Business View Magazine | June 2022

11 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 6 workers have become a scarcer commodity,” said Robin Erickson, PhD, Vice President, Human Capital, The Conference Board. “To remain competitive, companies should further leverage hybrid and fully-remote work arrangements, the latter of which has increased six-fold over the last year.” Productivity has increased significantly since the beginning of the pandemic—especially with remote work. • 62 percent of organizations with primarily remote workers reported productivity increases. • That’s compared to the 47 percent of organizations with employees not working virtually that reported increased productivity. • 57 percent of HR leaders overall report they believe that productivity has increased since the start of the pandemic. Burnout has skyrocketed. • 77 percent of surveyed HR leaders reported an increase in employees identified as being burned out, up from 42 percent in September 2020. • The number of employees seeking support for mental health, the number of employees identifying as burned-out, the number of hours worked, and usage of the Employee Assistance Plan all increased. • Levels of employee engagement/morale and the number of vacation days used both decreased. “Since the outbreak of the pandemic, employee well-being has declined and burnout is on the rise,” said Rebecca Ray, PhD, Executive Vice President, Human Capital, The Conference Board. “To retain workers, HR leaders will need a strong focus on improving the employee experience. That includes both allowing and encouraging employees to integrate their work and personal lives in a way that works best for them.” Company culture is rapidly changing. • 64 percent of respondents report that their organizational culture has changed since the start of the pandemic, an increase of 15 percent since April 2021. • Collaborative technology, genuine caring by managers, transparent communication by leaders, and commitment to corporate social responsibility have changed for the better at over 70 percent of surveyed organizations. • Over 60 percent of organizations think that the quality of leadership, commitment to innovation, articulation of mission and purpose, and an inclusive environment have changed for the better. • However, 25 percent report the level of trust between leaders and employees has changed for the worse. About The Conference Board The Conference Board is the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, we are a non- partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org OPENING L INES