Business leaders prioritise trust, but not in board governance: Deloitte

Ninety-four percent of global board members and executives surveyed said trust is “important” to their organisation’s performance, but they do not consistently prioritise it in their board governance strategies.

A new survey conducted by the Deloitte Global Boardroom Program has shown that while business leaders recognise the importance of trust in their organisations, they do not consistently prioritise it in their board governance strategies The results showed that 94% of the respondents considered trust as “important” for their organisation’s performance, with just 39% categorising their organisations as achieving a high level of trust maturity One of the key findings of the survey is that ESG (environmental, social, and governance) matters are rising as a major driver of trust A total of 61% of the respondents considered ESG as a priority over the next three years The survey also found that while both the CEO and the board are seen as responsible for managing trust in the organisation, boards have more work to do to make trust a prominent feature on the agenda. Only 28% of the respondents said their boards put trust on the agenda twice a year or more, and 10% reported that they do not discuss trust at all as a board.

Michael Bondar, Deloitte Global Enterprise Trust Leader, says, “For businesses, earning and protecting stakeholder trust is fundamental to ongoing viability and success, not just in terms of reputation, but as an important driver of financial performance.” Seah Gek Choo, Boardroom Program Leader, Deloitte Southeast Asia, emphasises the importance of operationalising trust as a business prioritysaying, “Operationalising trust requires leaders to ensure that an organisation’s purpose is fully contextualized

Read more at: https://www.peoplematters.in/article/leadership/businessleaders-prioritise-trust-but-not-in-board-governance-deloitte-36872

Employees have been at the center of rapid business change in the past few years. Amidst unprecedented workplace evolution, here is your opportunity to share your experiences and your expectations from 2023.

People and technology could possibly be the most important focus areas for employers this year Today, employee experience and employee-centric policies are pivotal in deciding organizational goals This translates into a more comprehensive approach towards employees and creating a culture of growth through effective leadership, upskilling workforce and robust hiring A Gartner report on Top 5 Priorities for HR Leaders in 2023 shows both the rising importance of employee experience and supporting organizational change and growth as critical HR priorities Balancing the urgency of supporting business growth while maintaining a positive employee experience delineates the crossroads of technology, and the future of work HR leaders stand today. A crossroads where old rules of engagement and interaction are fast evolving into newer, more digital forms. And one where organizational agility and employee experience are both central drivers of success. As companies hope to scale newer heights quicker, it's critical that people are at the center of the journey. Building an environment of growth and development and providing holistic well-being initiatives have been major focus areas to ensure people are productive and engaged with their work and company. Remote work today is a crucial part of how people operate, and as a result, companies have grown to address the need for flexibility among employees But questions still remain Are companies doing enough? A disconnect that can only be bridged by listening to what employees think and feel

Read more at:https://www.peoplematters.in/article/hr-technology/will-2023-bethe-year-of-the-employee-a-chance-to-tell-your-story-36865