O.C. Tanner 2024 Global Culture Report Finds Little Change in Talent Magnets
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This annual report from the Utah-based recognition firm finds that despite the spotlight shed on frontline workers during the pandemic, there is little change in the use of the key “magnets” the company believes are the key drivers of employee engagement.Click here for links to RRN Preferred Solution Providers.
A Merger of Recognition and Empathy
Few Changes This Year in What it Calls Talent Magnet™ Areas
The 2024 O.C. Tanner Global Culture Report begins by saying that “The road ahead undoubtedly includes the essential, frontline workers who form the backbone of numerous industries. Recognizing their work is a critical first step. The second, according to our research, is transforming appreciation into action. Once leaders have a deep comprehension of employees’ experiences, challenges, and aspirations, they can translate it into tangible support and ensure each person feels a sense of belonging, fulfillment, and connection.”
For 2024, the O.C. Tanner Institute “assembled the diverse perspectives of thousands of employees, leaders, HR (human resources) practitioners, and business executives across the globe. Our goal: to equip HR leaders with the necessary insights and strategies to meet today’s most immediate and consequential challenges head on.”
The report observes that “The fundamentals of work, the priorities of employees, and the role of leaders all continue to evolve, and this year’s report presents a roadmap with insights to navigate the transformation already underway. This journey will compel organizations to take a closer look at how they manage change as well as how they show empathy, practice flexibility, build skills, and develop resilience. Many of these concepts should be familiar to professionals who shape their cultures. But as you’ll see, these models are changing quickly, too.”
A Merger of Recognition and Empathy
The report authors assert that “This merging of recognition and empathy is a strategic necessity for attracting and retaining talent. Organizations that truly see, hear, and value employees can turn empathy from a buzzword into an impactful, teachable practice and create environments where people know they’re valued and respond with loyalty and great work.”
The report also “highlights the powerful forces of skill building and flexibility. The future of work belongs to organizations that promote perpetual learning and development. However, as the boundaries between professional and personal life increasingly blur, employees also crave balance—a need met by flexibility enriched with fairness that respects individuals’ unique circumstances and contributions.”
The authors believe that “Organizations that combine proactivity with perseverance, and approach change with a greater focus on people can expect to weather storms and consistently emerge stronger.”
Few Changes This Year in What it Calls Talent Magnet™ Areas
Each year the company says it measures changes in the “six core elements of workplace culture that together determine employee decisions to join, engage with, and remain at any place of work. We call them Talent Magnets because of their power to attract and connect people to their teams and organizations.”
It says that almost all its talent magnet scores fell slightly year over year in the US and generally throughout the world. The talent magnets are:
1. Purpose
2. Opportunity
3. Success
4. Appreciation
5. Wellbeing
6. Leadership
The company says that not a single culture score improved.
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