Inflexibility and Stress Stifle Innovation, GrowthBy Cinthya Alaniz Salazar | Thu, 08/11/2022 - 09:00
Two years into the pandemic, companies are still struggling to create the optimal working conditions necessary to retain talent and curb stress, which might cause them to incur heavy losses, warn experts. Industry leaders are also assessing the underlying causes of inequality in Latin America, gamifying social change and building on the importance of self-awareness.
This week in Talent news and developments:
Triple Alliance Needed to Address Inequality in Latin America
For centuries, the methodical and practical theory of growth suggested that extracting and development industries use natural resources without limits, as if these resources were infinite. However, the exploitation of these resources by industries is leading to the displacement of local communities and the murders of environmental leaders, explained Luis Manuel León, Director of Operations & Public Relations, casAgua.
Employers around the world are more likely to provide labor flexibility to attract and hire new staff than to grant it to their current employees, found a study by Oxford Economics. This disconnect at an executive level is likely to hurt retention initiatives as long-standing and knowledgeable contributors leave for other organizations that provide this incentive.
Workplace stress is an issue that generates economic stress for organizations and problems such as work accidents, high absence rates, high staff turnover and an overall loss of production, according to the International Labor Organization. Altogether, workplace stress is estimated to incur between US$5 billion and US$40 billion in business losses per year.
A report by Stanford University revealed that companies in Mexico and abroad are not promoting a growth mindset where employees feel encouraged to experiment and innovate. Managers must review their talent strategies to ensure they are fostering the conditions to build a creative environment.
“During these challenging times, a leader who is more self-aware is better positioned to live and work in our VUCA — volatile, uncertain, complex and ambiguous — world. Leaders with a mindset of self-awareness can build stronger, more adaptable teams and achieve greater results,” wrote Cesar Augusto Marron, Director General, Cardinal Health.
View From the Top
“Our emphasis on generating a social and environmental impact is what makes Betterfly a social unicorn. With this achievement, we hope to serve as an example to the market, demonstrating to companies and entrepreneurs alike that they too can adapt or build their business models to include social impact initiatives,” Lucas Melman, Country Manager, Betterfly, told MBN.