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Our People Are Our Greatest Asset!


January 15, 2019

How often have we heard managers and executives say this? There may be doubts at times as to their level of commitment in this regard, but it is certain that in 2019, more than ever before, staff development is critical to the success of businesses and organizations. Still not convinced? Consider the following.

Labour shortage ahead

Unemployment in November 2018 was at an all-time low of 5.6% in Canada and 5.4% in Quebec. By most definitions, we are now at full employment, or close to it. In this context, staffing and retention are not only key to a business’s strategy, but also vital to its future prosperity — even survival. So how can hiring and employee engagement outcomes be improved? Many scientific studies conclude that a high level of trust between employees and toward executives and managers can help achieve this. But this far from a fait accompli: a study1 conducted by EY shows that only 46% of employees exhibit “a great deal” of trust in their employer. What can you do to bolster the confidence your own crew has in your organization?

Mental well-being at work

When employees are happy, they tend to stay put. A recent report2 by Morneau Shepell shows that improving the mental health of their staff is one of Canadian employers’ top five priorities for 2019. The interest businesses are showing in this subject is not accidental: the Mental Health Commission of Canada estimates that mental health issues cost the economy $50 billion a year, which translates to a direct impact on bottom line. It can therefore be highly cost-effective for businesses to recognize the importance of their employees’ well-being and provide the conditions for them to feel good at work. How can you create a healthy work environment for your staff?

Zero tolerance

Toxic behaviour in the workplace, including sexual or psychological harassment, is a sad reality. But thanks to the rise of the #MeToo movement in 2018, it is becoming less and less tolerated, and this tendency should hold in the coming year. Here as well, today’s organizations are very much aware of the adverse consequences of this kind of behaviour, among them loss of productivity, lack of motivation and greater personnel turnover. Has your organization put in place everything it can to avoid any such situations, which can potentially poison an entire workplace?

If your people are indeed your greatest asset, were you able to answer the three questions asked at the end of each of the above paragraphs with assurance? Did you hesitate or give a negative answer to any of them? Then let Executive Education HEC Montréal, and our many leadership and human resources training programs, help you foster the growth of the women and men who are the heart and soul of your organization.


 

1 EY (2016). Could trust cost you a generation of talent?
2 Morneau Shepell (2018). Human Resources Trends for 2019. Insights on what HR leaders are expecting in the coming year.

 

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