1、Building trust to leave your people and your business Net Better Off CARE TO DO BETTER In collaboration with Marriott International In a world turned upside down, leaders are being tested in real-time to keep their business viable while navigating an unimaginable social and economic crisis. At the h

2、eart of many conversations is the question: How can we take care of our people? Prior to the crisis we found that only 35 percent of C-suite (CXOs) felt responsible for leaving their people better off, and in a mere six months this has jumped to 50 percent. Leaving people better off is not only the

3、right thing to do, its the right thing to do for your business. Even amid weak GDP growth,1 companies that leave their people better off can see modest revenue growth of 5 percent (average company revenue in 2020 is anticipated to decline by -4.7 percent)2 according to our research. In stable econom

4、ic times, even greater financial gain is possible. The catalyst for this growth is a new type of CHRO who recognizes that trust is the new currency at work. With trust, the CHRO can work across the organization to architect a culture that leaves people “net better off”, lifts the business and elevat

5、es the broader communityto not only emerge stronger but ultimately create a better future. Eventually, the current crisis will pass, and people will choose whom to work for and where to do business. Organizations that answer the call to leave their people better off will win in the market of the fut

6、ure. In this report, we explain how. Trust pays off 2CARE TO DO BETTER What matters most to people works for business 3CARE TO DO BETTER Going into 2020, the challenges of the decade ahead were well knownpressure to innovate and accelerate growth on one hand and improve societal outcomes on the othe

7、r.3 Given the compounding health, economic and social crises, leaders are getting a masterclass in what it means to remain viable against very difficult oddsand to do so in a responsible way that protects and supports one of their most important stakeholders: their people. This brings the HR profess

8、ion to a crossroads at a pivotal time in history. The CHRO has emerged as one of the most vital roles in the C-suite, as organizations work to keep their people safe, employed, supported and equal. Many are rising to the occasion. But some, by their own admission, say they would have been more prepa

9、red for our current crisis had they invested more strongly in programs that support their peoples holistic needs.4 This isnt surprising since over the past decade, CHROs have been accountable for revitalizing their post-recession organizations through efficiencies. They were rewarded more for soundi

10、ng like a CFO than for architecting a resilient culture that elevates people, delivers for customers and supports the community. In fact, the entire C-suite is rethinking their responsibility. Prior to the pandemic, 35 percent of CXOs fully embraced the responsibility to support peoples holistic nee

11、ds. In six short months, this has escalated dramatically to represent 50 percent of CXOs. Now, CHROs have the opportunity to reclaim one of their most fundamental missions: the care and resiliency of human workers. They are now able to rewrite a script that builds trust based on the fundamentals of

12、what matters most to their people. The CHRO has never been better positioned to be the catalyst for such meaningful changenot only for their people, but also their organizations and communities. As our research demonstrates, it makes good business sense to do so. From crisis to opportunity: Caring t

13、o do better 4CARE TO DO BETTER First things first: Building trust Expectations around the employee-employer relationship are being rewritten in real-time. Workers are asking tough questions: How is the organization responding to meet individual and community needs during this pandemic? How is the or

14、ganization going to keep me safe while re-entering into the workplace? How is the company helping to dismantle racism in the workplace? 5CARE TO DO BETTER Trust is the new currency at work. In monthly global pulse surveys conducted by Accenture Research from March-July 2020, we found that over 60 pe

15、rcent of people trust that their company is doing the right thing and almost the same percentage of people feel supported by their employer. However, workers are now examining their careers as global unemployment has nearly doubled from 4.8 percent in 2019,5 to 8.3 percent in advanced economies in 2

16、020.6 Our research also reveals that more than half of all workers are exploring new sources of income and are contemplating career changes. While many workers trust their employers, they arent necessarily committed to them. At the same time, workers hold very high expectations of how organizations

17、will lead responsibly post-crisis. According to our 2020 COVID-19 Workforce Pulse Survey,7 69 percent expect that companies will start to behave more responsibly and equitably than before and 67 percent say that COVID-19 has strengthened the need for greater business involvement in improving social

18、and environmental outcomes. But perhaps even more striking is that its also personal: Roughly 1 in 2 workers agree that the ethical, sustainable and moral values that a company holds will become more important to them after the pandemic passes. There has arguably never been a more critical time to c

19、apture and maintain the trust of people at work by meeting the needs of what matters most to your workers. Roughly 1 in 2 workers agree that the ethical, sustainable and moral values that a company holds will become more important to them after the pandemic passes.” “ The currency of trust 6CARE TO

20、DO BETTER Normal isnt something that well ever return to, nor should we. Our aspirations are much higher now. Successful workplaces will elevate new ways of working and engaging people. Successful leaders will lead through the lens of a moral compass, focused on eliminating unconscious bias and boos

21、ting inclusion and diversityunderstanding that leaving their people net better off is the endgame. Modern CHROs will champion this new way of thinking and workingto shatter the barriers of systemic racism that exist within our nations, companies and communities. Career seekers will be drawn to compa

22、nies guided by this moral compass as a way to not only build a career, but to build a better tomorrow for their communities and families.” Perry Stuckey Chief People Officer, Eastman “ 7CARE TO DO BETTER To understand how organizations can capture this opportunity, we engaged 3,200 senior executives

23、 (50 percent HR decision makers and 50 percent other CXOs) and 15,600+ workers spanning 15 industries and 10 countries in a comprehensive and first-of-its-kind study. This research uncovered a powerful finding: By meeting six fundamental human needs through work, companies unlock their peoples full

24、potential. We call this framework “Net Better Off,” and its six dimensions are: Emotional having many strong personal relationships. PHYSICAL Being in good physical health with a lack of stress. PURPOSEFUL Feeling that one makes a positive difference to the world and that life has meaning and a grea

25、ter sense of purpose beyond oneself. EMPLOYABLE Having marketable, in-demand capabilities and skills to obtain good jobs and advance in a career. FINANCIAL Being financially secure without undue economic stress or worry and having equitable opportunity for future stability and advancement. A groundb

26、reaking new model: Net Better Off Figure 1: Net Better Off addresses fundamental human needs 8CARE TO DO BETTER Building trust through Net Better Off We found that each of the six dimensions of Net Better Off were significantly correlated with people trusting their employer. Also, we found that Net

27、Better Off statistically drives peoples trust at work. In other words, you are unlikely to have trust between an employer and employees without first addressing the Net Better Off dimensions. But, its more than peoples potential that is unlockedits also business potential. As employers boost these d

28、imensions and create meaningful and trusting relationships with employees, they see an increase in business performance. Examining five specific practices (see Sweet Spot Practices in Figure 4), we found that even in todays weak GDP environments, organizations stand to gain upwards of 5 percent reve

29、nue growth, compared to the anticipated 2020 average company decline of -4.7 percent. Before the pandemic began during a strong and growing economy, organizations could realize double-digit revenue growth by engaging in the practices that leave their people better off. The idea of “net” has preceden

30、t in business: Net income. Net benefit. The marketing industry created the Net Promoter Score to assess the customer experience and measure customer loyalty and brand sentiment. Net Better Off does much the same thing: It measures and brings into focus what inspires workers potential. Whether were l

31、ooking at a factory worker in Stuttgart or a private-equity banker in Singapore, the Net Better Off model shows that you cant unlock potential without enabling your people to be net better off. The needs addressed in the Net Better Off model reflect the changing nature of work. The boundaries betwee

32、n peoples work and personal lives are blurring, and only more so as 64 percent of the global workforce shifted to working from home at the peak of the crisis.9 In times of crisis, these needs require even greater attention. Mental health, time for physical activity and relational needs are all heigh

33、tened when people are in relative isolation. We are seeing that financial, employable and purposeful needs also require broader support, as 62 percent of workers are concerned about their job security and are reassessing their priorities.10 The compounding impact of all these stressors is foreshadow

34、ing a very significant global mental health crisis, with research suggesting that the trauma of the pandemic will last far beyond a vaccine.11, 12 Unlock peoples potentialboost business 9CARE TO DO BETTER Elevate people. Lift your business. 10CARE TO DO BETTER Now, more than ever, people are looking

35、 to their employer to help meet their individual “me” needs (physical, financial, employable, emotional/mental), their “me and you” needs (relational) and their collective “we” needs (purposeful). Encouragingly, executives are starting to concur. But is it realistic to think that while companies are

36、 struggling, they can simultaneously be focused on elevating their people? The answer isnt an easy one. Feeling accountable for your people doesnt mean that decisions related to the workforce wont be difficult. For instance, 87 firms in the S data collected from June July 2020 5. Accenture Research

37、COVID-19 Workforce Pulse Survey, collected a total of 5 waves from April July 2020 6. International Monetary Fund. (April, 2020) Unemployment rate. Retrieved from: https:/www.imf.org/external/datamapper/ LURWEO/OEMDC/ADVEC/WEOWORLD 7. Accenture Research COVID-19 Workforce Pulse Survey, collected a t

38、otal of 5 waves from April July 2020 8. We ran a stepwise multiple regression analysis to determine what influences human potential at work. We found that within our sample (n=15,666) that 64 percent of potential is influenced by the six Net Better Off dimensions. We also found that 9 percent is inf

39、luenced by individual differences such as tenure, education and industry. The other 27 percent is influenced by noncontrollable factors that were not accounted for in the model. 9. Accenture Research COVID-19 Workforce Pulse Survey, collected a total of 5 waves from April July 2020 10. Accenture Res

40、earch COVID-19 Workforce Pulse Survey, collected a total of 5 waves from April July 2020 11. World Health Organization. (2020, May 29) Facing mental health fallout from the coronavirus pandemic. Retrieved from: https:/ www.who.int/news-room/feature-stories/detail/facing-mental- health-fallout-from-t

41、he-coronavirus-pandemic 12. World Economic Forum. (2020, May 14). U.N. warns of global mental health crisis due to COVID-19 pandemic. Retrieved from: https:/www.weforum.org/agenda/2020/05/united-nations- global-mental-health-crisis-covid19-pandemic/ 32CARE TO DO BETTER SOURCES and to determine the r

42、elationship between Net Better Off scores and employees rating of their employer as “a great place to work.” Step 2: Development of Sweet Spot Practices We asked CXOs about the current level of maturity of Sweet Spot practices, using a scale of 1 to 7 to measure the extent to which they were impleme

43、nting each. Using the relationship between the maturity of these practices and employees Net Better Off scores from step 1, we derived workers Net Better Off scores given companies capabilities. 3: Net Better Off score effect on financial performance We collected estimates on financial performance f

44、rom various academic papers. For the impact on revenues, we used Green, Huang, Wen, and Zhou, Crowdsourced Employer Reviews and Stock Returns (2018), Journal of Financial Economics, which captures the relationship between employees reviews of companies as “great places to work” (based on Glassdoor)

45、and revenue growth. To estimate the financial impact of the Net Better Off score, we used an econometrically informed relationship between “great place to work” ratings and Net Better Off scores from step 1, and derived companies Net Better Off scores from step 2. For revenue growth estimates, we so

46、urced S in the moderate scenario, they grow to the middle point between the current and maximum levels. In the small uplift scenario, we simulated growth potential of capabilities by 10 percent. The small uplift scenario was chosen for this report and research. 35CARE TO DO BETTER About the authors

47、David joined Marriott International in 1998 and assumed the role of global chief human resources officer in 2006. He was appointed a corporate officer in 2000, and in 2004, to the board of directors Committee for Excellence, which focuses on advancing employee well-being and inclusion in the company

48、. Prior to joining Marriott, he held various human resources leadership positions at Citibank. Drawing on his background as an organizational psychologist, David is an outspoken champion for advancing employee well-being and company culture as the most powerful path to sustainable business success.

49、He earned a doctorate degree in industrial/organizational psychology from New York University in 1987. David is chairman of the American Health Policy Institute, a vice chair of the Human Resources Policy Association and a governor on the board of the Health Transformation Alliance. He was elected to the American Woodmark board of directors in 2020. David was inducted as a Fellow of the National Academy of Human Resources in 2014 and was named HR Executive of the Year by Human Resource Executive magazine in 2019. David Rodriguez,