Team trust key to resilient workforce
Changes to global workplace practices mean that companies need to be more responsive to the needs of their workforce, delegates at the Cayman Captive Forum 2022 heard.
Motivational speaker and workplace expert Eric Termuende gave a presentation on how companies can retain talent and create better working practices.
Termuende pointed out that the US job market has seen a great deal of turmoil in recent years, beyond that imposed on it by the COVID-19 pandemic. Birth rates have been declining in the USA due to expense and climate change, more people are retiring and immigration rates took a hit during the pandemic, he said.
However, new US business applications have been going through the roof with 5.39 million in the USA in 2021, up from 4.38 million in 2020 and 3.51 million in 2019.
He said that it was not so much the ‘Great Resignation’, but more the ‘Great Reconfiguration’, especially as it is now widely acknowledged that we are in the fourth iteration of the industrial revolution with the ongoing rise of intelligent production, the internet of things, cloud technology and big data.
Economic uncertainty is also increasing as a result of geopolitical events like the invasion of Ukraine.
Termuenda said it is important to build trust in teams and isolate and remove friction. He urged delegates to “slow down” and connect with their teams, to talk to each other. He concluded that small one-degree shifts can have a cumulative effect and that it was important to invite contributions from across the team.
