Content from our sponsor Please note: The Wall Street Journal News Department was not involved in the creation of the content below. Deloitte’s Insights for C-suite executives and board members provide information and resources to help address the challenges of managing risk for both value creation and protection, as well as increasing compliance requirements. Deloitte LLP CEO Cathy Engelbert discusses top-of-mind issues facing CFOs and other senior executives, such as disruption, transformation and shareholder activism, as well as cyber and data protection.
In an era of heightened corporate transparency, greater workforce mobility and severe skills shortages, the top human resources issue facing organizations is how to create a workplace culture that engages, retains and motivates workers. By many measures, today’s cars are the safest, cleanest and leanest—in terms of fuel economy—that have ever been manufactured in the history of the industry.
The safety features designed to protect cars from collisions are part of a growing list of automobile components that expose automakers and drivers to cyber risks. Strategic risk management (SRM) can be a good indicator of positive shareholder returns in the automotive supplier industry, with top performers cumulatively generating a 520% increase in shareholder value over 10 years, according to a report covering a survey of more than 210 automotive suppliers conducted by Deloitte & Touche LLP and the Original Equipment Suppliers Association.
The employee-work contract has changed, compelling business leaders to build organizations that engage employees as sensitive, passionate, creative contributors, says Josh Bersin, principal, Deloitte Consulting LLP and founder of Bersin & Associates, known as Bersin by Deloitte. After decades of corporate discourse about the war for talent, it appears that the battle is over, and talent has won. Research conducted by Bersin by Deloitte suggests that the issues of “retention and engagement” have risen to No. The employee-work contract has changed: People are operating more like free agents than in the past. One of the issues that must be addressed is the aging idea of an employee engagement survey. Consider the typical process: Companies deploy annual surveys to benchmark a company’s level of employee satisfaction from year to year. The marketplace of survey providers, which is around $1 billion in size, is largely staffed by industrial psychologists who have built statistical models that correlate turnover with various employment variables. While none of these models are “wrong,” companies say the surveys don’t prescribe actionable results. Consider the radical changes that have taken place at work: Employees operate in a transparent job market where in-demand staff find new positions in their inboxes. These changes to the workplace have altered the engagement equation, forcing organizations to rethink it. After two years of research and discussions with hundreds of companies, Bersin by Deloitte uncovered five major elements (and 20 underlying strategies) that work together to make organizations “irresistible.” These 20 factors fit together into a whole system of engagement in an organization, one that is held together through culture.

Read the full article Becoming Irresistible: A New Model for Employee Engagement to learn more about the five major elements and accompanying factors that help make organizations irresistible to employees. This publication contains general information only and Deloitte LLP and its subsidiaries ("Deloitte") are not, by means of this publication, rendering accounting, business, financial, investment, legal, tax or other professional advice or services. She also discusses talent, including managing multigenerations, shifting approaches to performance management, and the importance and value of a diverse workforce.
Learn how boards can help instill such a culture, important questions to ask management about building that culture, and why making succession planning and identifying a leadership pipeline is a key responsibility.
At the same time, the auto industry faces a growing number of sanctions and enforcement actions. From sensors in collision-warning systems to anti-lock brakes, entry points abound, and the attack surface on cars is expected to expand as automobiles become increasingly connected. Employees today have increased bargaining power, the job market is highly transparent and attracting top-skilled workers is a highly competitive activity. In short, the balance of power has shifted from employer to employee, forcing business leaders to learn how to build an organization that engages employees as sensitive, passionate, creative contributors. While such measures of engagement have been used for years, organizations say they aren’t providing modern, actionable solutions. Most use vendor-provided surveys that claim to be statistically validated ways of measuring engagement. The pioneer in this market, Gallup, promotes a survey of 12 simple factors that statistically predict retention.? Other vendors have their own models, many focused on the characteristics of leadership, management, career opportunities and other elements of the work environment. In a recent survey among 80 of the most advanced users of engagement surveys, only half believe their executives know how to build a culture of engagement.? Among the broader population, the percentage is far lower.
Organizations are flattened, giving people less time with their direct managers.? Younger employees have increased the demand for rapid job rotation, accelerated leadership and continuous feedback. For example, a well-known pharmaceutical company found that its executives and scientists in China were leaving the company at an alarming rate. How can management create an organization in today’s work environment that is magnetic and attractive, creates a high level of performance and passion, and continuously monitors problems that need to be fixed? These tools include employee feedback systems as well as data analytics systems that help identify and predict factors that create low engagement and retention problems. Jeff Schwartz, Josh Bersin, and Bill Pelster, “Introduction,” Global Human Capital Trends 2014, Deloitte University Press, March 7, 2014. Bersin by Deloitte, Glassdoor research of more than 20,000 respondents conducted in October 2014.

Tom Hodson et al., “The overwhelmed employee,” Global Human Capital Trends 2014, Deloitte University Press, March 7, 2014. Deloitte, The Millennial Survey 2014: Big demands and high expectations, , accessed October 30, 2014. Conference Board, “The Engagement Institute: How organizations create and sustain highly engaging cultures,” accessed October 30, 2014. The average span of control among first-line managers is now over 11, up from around 9 five years ago. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. The template is provided by Microsoft for free and you can download it if you need to make a presentation about new employees training.As son as you download the template you will realize that it is well organized using sections and chapters in PowerPoint.
Looking at innovation, she notes the influence it is having on professional services and other sectors, and why CFOs are positioned to help drive innovation in their organizations.
Understand how auto manufacturers and suppliers can work to address the challenges of managing compliance risks with the pressure to innovate. In addition, researchers have highlighted potential privacy invasions: By exploiting weaknesses in wireless communications systems or in devices that connect directly to cars, such as smartphones, hackers could conceivably gain access to data stored on a vehicle that describes its owner’s driving habits, location or daily schedule.
Companies are now investing in analytics tools to figure out why people leave, and the topics of purpose, engagement and culture weigh on the minds of business leaders everywhere.
The shift taking place is from improving employee engagement to a focus on building an irresistible organization.
Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. By running a statistical analysis on all the variables among these departing high-potential workers, the company realized that in China, unlike other parts of the world, people were expecting very high rates of compensation increase every year. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication.
The job market there was highly competitive, so people were being poached based on salary progression alone.

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