Being part of a company during
At the organizational level, however, growth generates expected and unexpected challenges. And the faster a business grows, the more difficult it can be to step back and assess the situation dispassionately. In a sometimes-frantic atmosphere, the hope is that culture and processes remain intact and primed to develop as the organization evolves. Advisers realize that their clients are frequently pulled in opposing directions, addressing issues as they arise. The risk is that in doing so, they lose their understanding of the organization as a whole, with all its parts connected.
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Retaining this broad view is essential. And times of growth provide employers with an invaluable opportunity to learn how to step back and keep the bigger picture in mind when dealing with the pressing concerns that arise daily. So it's important to help employers strive to focus on what is fundamental about their organization (i.e., values, goals and culture) and assess their existing strategies and ways of working to ensure that everything is still in alignment as the workforce expands.
Diverse, equitable and inclusive (DEI) benefits strategies are inextricably linked to values,
Truly taking stock is not a simple matter of tracking progress over time, despite the critical importance of having the right metrics. Employers and those responsible for DEI-led employee benefits initiatives have to set aside time during growth spells to return to first principles and scrutinize the approach they have taken so far. That initial approach may have rested on certain flawed assumptions or evidence that has since been updated. And that is likely: DEI as a field is expanding, engagement with it as an academic discipline is increasing, and the result is that new research and new initiatives are emerging all the time. It's no use to align benefits strategies with business growth if those strategies are outdated. So employers must ensure they are operating according to the most robust information available.
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During any time of transition, and especially if it's happening at warp speed, we need to bring others with us so that a gap is manageable between what we're doing and what others think we're doing. Through clear and constant communication, organizations can ensure complete consistency between their approach and employee understanding of the direction they're going.
Communication is also the most important means by which organizations can assess the suitability of their existing approach to employee benefits and build a picture of how the needs and desires of the workforce are changing. Organizations can invite constructive criticism of their current or past benefits structure and take the opportunity to gather data on what needs and wants they now need to accommodate. They should then communicate their proposed direction concerning employee benefits and invite feedback on an ongoing basis.
Advisers know that their clients are under pressure even in the best of times. During periods of growth, the intensity builds. They have many things competing for their attention, which naturally means prioritization is essential. Experienced business leaders understand that simply reacting to things is not an optimal strategy; choosing where to focus attention is. It's another reason why retaining a holistic view of the organization is so important.
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In an ideal world, overall DEI strategy, encompassing everything from talent-seeking to professional advancement, would receive the same attention during quieter times. Still, if that isn't possible, then employers can prioritize DEI benefits strategy as an area within DEI that has critical importance during growth spells. Given its connection to employee satisfaction and performance, prioritizing benefits strategy can help manage the instability of perpetual growth over time.
Employers are nevertheless perennially at risk of being spread too thin. It helps to have key people in place who are charged with championing the DEI benefits strategy. These individuals can be identified during quieter periods and empowered to ensure that even during periods of rapid growth, DEI benefits are still tracked and tied to workplace performance, recruitment and retention of staffers.
HR leaders are the most obvious candidates for this task. We recently commissioned a survey that revealed a near-total consensus among HR professionals in the U.S. and U.K. around the value of DEI. Employers, with the help of their benefits advisers, need to look for that level of engagement and professional suitability in those they charge with taking ownership of their DEI function as they grow.
One of the most encouraging developments in business in recent years has been the growing awareness of the importance of DEI. Now, employers at both big and small organizations understand – and, increasingly, have proof of – the relationship between DEI and creativity, productivity and profitability. That awareness makes a big difference at all times. And during those times of growth, it will ensure that DEI benefits remain a front-and-center consideration and, ultimately, stay closely aligned with the company as it embarks on the latest chapter in its story.
