Redefining Work Reports: Examining The State of Organizations in 2023
Redefining Work Reports are short podcasts recapping some of the top stories, news, and trends in the new world of work. In this episode, Lars breaks down McKinsey's 2023 State of Organizations Report and what it means for people teams.
You can also listen/share the episode directly syndicated on any of these channels: Apple Podcasts | Spotify | Google Podcasts | Stitcher |
Jump Ahead
[00:03:16] The value of high performers
[00:04:08] Organizational resilience
[00:08:41] Mental health in the workplace
[00:12:39] NASA’s April Jordan preview: building diversity in astronaut corps
Episode Overview
Employee experience is key to the success of any organization. As the world of work continues to evolve and change, companies need to be prepared to adjust their strategies to reflect the needs of their employees. Companies need to make sure they are creating initiatives to help meet the individual needs of their employees in order to attract and retain the best talent.
McKinsey recently released their State of Organizations 2023 report, which looked into the major shifts that are transforming organizations and narrowed them down to 10. These included increasing speed and resilience, true hybrids, AI, new rules of attraction and retention, skills and capability development, talent tightropes, inspiring leadership, diversity, equity, inclusion and belonging progress, mental health support, and organizational efficiency.
The report highlighted some eye-opening statistics about the value of high performers. It found that high performers are 800% more productive than average performers in the same role. This emphasizes the importance of creating a positive employee experience and ensuring that high performers are supported and rewarded. The report also looked into organizational resilience and found that many business leaders felt that their organizations were unprepared to react to future shocks and disruptions.
This further emphasizes the need for organizations to be prepared and to create initiatives to help meet the individual needs of their employees. When it comes to creating better employee experiences, the most common components that companies are embracing are workplace flexibility, working time, and leadership training. This is also backed up by LinkedIn's 2023 Global Trends Report which found that flexibility was the third most important criteria for job seekers.
Overall, it is clear that employee experience is key to the success of any organization. Companies need to make sure they are creating initiatives to help meet the individual needs of their employees in order to attract and retain the best talent. Companies also need to make sure they are prepared to react to future shocks and disruptions in order to ensure organizational resilience.
By creating better employee experiences, companies can ensure they are well-positioned to succeed in the future.
Links from this week’s episode
The State of Organizations 2023: Ten shifts transforming organizations (McKinsey)
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