At Monster we have recently produced our latest UK Jobs Confidence Index, which aims to measure how confident people feel about the labour market and understand what implications that has for workers, job seekers and employers, writes Larraine Solomon, Global Vice President Internal Communications, Employee Engagement and Change at Monster Worldwide
One of our key findings was that one in four workers do not feel confident about their job security over the next six months. In fact, the confidence of workers and job seekers in the UK labour market is at its lowest level since 2015. The research also found that more than a third of those in work feel less confident about their job due to the current political climate. And at the heart of the issue is, of course, Brexit.
If like me you have been watching the latest Brexit shenanigans with a sense of morbid fascination, you have probably concluded that this climate of uncertainty is unlikely to change any time soon.
With that in mind, how do companies retain and motivate their most talented employees? Never mind the table tennis tables or the ‘bring your dog to work day’, according to Maslow, the feeling of safety and security is a basic need, without which people are much more likely to seek alternative employment.
With our Prime Minister saying he would rather “die in a ditch” than delay Brexit and so many MPs thwarting his every move, it’s almost impossible to provide the levels of security that people crave. So, what else can businesses do? A myriad of recent studies has substantiated the claim that having a personal sense of meaning at work is as important as being paid well. Despite the climate of uncertainty, we all want to be able to do a job that matters, and in doing so we have a need for social connection, positive reinforcement, and self-actualization.
Fueled by developments in digital and mobile technology and the emergence of the open economy, a Digital Workplace or Social Intranet is increasingly becoming a key tool to enable that sense of meaning, collaboration and agility. Having introduced this technology into two large global organisations in recent years, I know how challenging the culture change can be to make the investment worthwhile. So, would I do it again? You bet! The size of the prize is worth the blood, sweat and toil.
At Monster, we established our M-Space platform over a year ago. Convinced that in the current climate, encouraging global collaboration is even more necessary to boost productivity and enable better customer solutions; colleagues from as far afield as Kuala Lumpur and San Francisco have ‘found each other’ and collaborated to boost business performance.
M-Space has enabled us to move away from work being done in silos only by those teams that appear on an organisational chart. It allows teams to be more fluid and dynamic than ever; work gets done in cross-functional project teams and a climate of trust prevails.
While a Digital Workplace is in no way a silver bullet and needs to be part of a much broader communications approach, it can help to create the paradigm shift that businesses need to create an all-together different and meaningful experience in the workplace. And in the current Brexit driven environment, that’s no mean feat.