Findings from Latttice’s global State of People Strategy also found HR teams under enormous strain trying to retain and recruit quality employees while over half of their employees look for another job.
SAN FRANCISCO, CA, October 28, 2021— Lattice, the leading people management platform for businesses with people-first cultures, today released its annual State of People Strategy report. This data, sourced from over 725 HR leaders from companies around the world, surfaces the immense impact HR and People teams have had to shoulder, as well as their outsized influence on the workplace since the start of the pandemic and looking forward.
2021 brought steps towards ‘the new normal’ even with the Delta Virus causing havoc in many states. Formerly furloughed employees are returning to the workforce and companies are engaging in historic hiring sprees. Workers, once desperate to keep their jobs, are weighing competing job offers as well as re-examining their careers entirely. It all adds up to what exhausted HR teams call, whiplash.
Findings are useful for company leaders trying to retain their best workers while being on the lookout for talented/motivated workers as well as for People leaders as they examine forward-looking strategies and initiatives.
Key findings from Lattice’s 2021 State of People Strategy Report include:
Re-defining the Workplace:
- Over 70% of HR teams are setting policies that plan for most or all of their employees to continue to be remote at least part-time for the next year.
- HR teams are feeling the ongoing effects of the ‘Great Resignation,’ most people are leaving companies in search of higher pay and career advancements (55% and 37% respectively).
DEIB Initiatives Losing Steam:
- While diversity, equity, inclusion, and belonging (DEIB) were a huge focus last year, those programs fell from a top 3 priority to #6 this year as priorities shift to hiring. In its place are employee engagement, talent acquisition, and manager enablement training.
- One of the main DEIB focus for the year was in “diverse hiring” efforts, in part thanks to the ‘Great Resignation.’
- High-performing HR teams (teams who say they meet or exceed their goals) are five times more likely to conduct quarterly performance reviews versus semi-annual or even annual reviews which lead to higher employee satisfaction and retention.
- 43% of respondents place employee engagement as a key top priority over the next twelve months.
To download the full report, visit: https://lattice.com/state-of-people-strategy-report-2021