Dayforce Pulse of Talent Report: Empathetic Leadership Essential to Balance Employee Wants and Business Needs

Rhea-AI Summary

Dayforce, Inc. released the results of its 14th Annual Pulse of Talent report, revealing that increased empathy from leadership can improve employee satisfaction and productivity. The study surveyed 8,751 employees and found that stress levels are high, with 70% of respondents reporting increased stress due to aggressive performance goals. Burnout and flight risk remain major concerns, while trust between employees and employers is lacking. However, employees are open to new workplace technology and are interested in the potential of artificial intelligence to improve productivity and recommend career development opportunities.

Insights

Organizational Psychologist

An Organizational Psychologist would analyze the correlation between leadership empathy and employee productivity as highlighted in the Pulse of Talent report. Empathy is a critical emotional intelligence component that fosters a supportive work environment. The report's indication that 48% of employees feel their organization empathizes with them suggests that there is significant room for improvement. The psychological impact of empathy on job satisfaction and performance can be profound, as employees who feel understood and valued are more likely to be engaged, loyal and productive.

The data showing a 90% preference for increased leader empathy among dissatisfied employees underscores the potential for organizations to enhance their work culture. By implementing empathetic leadership training and development programs, companies can expect to see a positive effect on mental health, reduced burnout and decreased flight risk. However, it's crucial to recognize that empathy should not be superficial; it must be genuine and integrated into the company's core values for sustainable impact.

Human Resources Strategist

A Human Resources Strategist would focus on the strategic implications of the report's findings. The high levels of reported stress and burnout, alongside the flat flight risk, indicate a workforce under considerable pressure. In response, HR departments must consider holistic strategies that address these issues. While the report suggests that 81% of workers experienced burnout, it also highlights that employees believe in the efficacy of organizational changes to improve productivity.

Actions such as creating better work-life balance and offering flexible work schedules are not just employee benefits; they are strategic imperatives for talent retention and productivity. Additionally, the approval for upgrading workplace technology and the interest in AI for career development suggest that employees are open to and see the value in, technological advancements. HR professionals must ensure that these tools are implemented thoughtfully, complementing human skills and enhancing job satisfaction.

Technology Investment Analyst

A Technology Investment Analyst would examine the report's findings from an investment perspective, particularly the impact of new technologies on productivity. The report indicates that 85% of employees approve of upgrading workplace technology, which is a clear signal to companies and investors that technology adoption is a worthwhile investment that can lead to productivity gains. The positive reception of AI in the workplace is also notable, with half of the respondents believing that AI can improve productivity.

From an investment standpoint, companies that provide such technological solutions are poised for growth as businesses seek to leverage these tools to address employee productivity and well-being. Investors should closely monitor firms in the HCM space, especially those developing AI and other tech solutions that align with the workforce's evolving needs. However, it is essential to consider the long-term implications of such investments, ensuring they are not just a short-term fix but part of a comprehensive strategy to improve employee engagement and productivity.

Report finds increased empathy from leadership would not only boost employee satisfaction, but productivity as well

MINNEAPOLIS and TORONTO, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Dayforce, Inc. (NYSE: DAY; TSX: DAY), a global human capital management (HCM) leader that makes work life better, today released results from its 14th Annual Pulse of Talent report. Findings show that increased empathy from leadership is a cost-effective, and often overlooked, productivity lever within an organization.

Almost half of respondents (48%) agreed that their organization empathizes with employees. Among those who disagreed, 90% said having leaders show more empathy would make a positive difference in their work life, including improving their job satisfaction (52%), improving their job performance (39%), increasing their productivity (37%), improving mental health/levels of burnout (48%), and making them more loyal (41%).

Additionally, more than 8 in 10 (81%) workers surveyed said their employer made organizational changes in the last year. While change and innovation are central to today’s workforce experience, organizations can mitigate some of the challenges created by transformation to benefit both employee and employer. The report, which surveyed 8,751 employees at companies with at least 100 employees from around the globe, found that:

• Stress is high: 70% of respondents say more aggressive performance goals/targets have increased stress levels. When employees didn’t reach performance goals, 43% said it caused them to lose motivation.
  
  
• Burnout and flight risk remain big concerns: More than 8 in 10 (81%) respondents said they experienced burnout in the previous 12 months, nearly the same level for three years running. Flight risk (69%) was essentially flat from last year despite growing uncertainty in the job market.
  
  
• Trust is lacking: Only half (56%) of respondents say they trust their employers, and only 55% say their employers trust their employees.
  
  
• Understanding and action are needed: 91% of respondents said employers can take actions to help increase their productivity, including creating better work-life balance (37%), hiring more people on their team (32%), skills development (29%), and more flexible work schedules (29%).
  

“Our research shows employers are caught in a balancing act between a need for increased efficiencies to stay competitive in the market while safeguarding employee wellbeing and trust, which has been in flux since the pandemic,” said Katie Meyers, VP Global Talent Management and Development, Dayforce. “The good news is that tools and initiatives are readily available to help both sides of this equation meet the challenges of an ever-changing workplace and a boundless workforce.”

The survey found 85% of respondents approved of upgrading workplace technology, with 69% saying new tech investments have increased their productivity in the past year and 39% reporting they have decreased their stress.

In addition, 50% of respondents think that artificial intelligence (AI) can improve their productivity at work, and 80% of surveyed employees were at least slightly interested in their employer using AI to recommend new internal career and skills development opportunities.

To download the full Pulse of Talent Report, please click here.

Survey Methodology

Hanover Research conducted Dayforce’s 14th Annual Pulse of Talent research study online from August 16 to September 7, 2023. The study included 8,751 respondents aged 18+ who work at companies with at least 100 employees across Australia, Canada, Germany, Malaysia, New Zealand, Singapore, the United Kingdom, and the United States.

About Dayforce  

Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, payroll, talent, workforce management, and benefits equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.   

Forward-Looking Statement

This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our legal name change, the benefits of our unified branding, our investments in AI-driven innovations and best-in-class experiences, and our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

This press release should be read in conjunction with the risks detailed in the “Cautionary Note Regarding Forward-Looking Information,” “Forward-Looking Statement”, “Risk Factors” and other sections of Ceridian’s Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and other reports we file with the Securities and Exchange Commission. Copies of reports filed with the Securities and Exchange Commission are posted on our website and are available from us without charge.

Media Contact:
Teri Murphy
1- 647-417-2117
teri.murphy@dayforce.com

FAQ

What is the ticker symbol for Dayforce, Inc.?

The ticker symbol for Dayforce, Inc. is DAY.

How many employees were surveyed for the Pulse of Talent report?

The study surveyed 8,751 employees.

What percentage of respondents reported increased stress due to aggressive performance goals?

70% of respondents reported increased stress.

What are the major concerns highlighted in the report?

The report highlights concerns about burnout, flight risk, and lacking trust between employees and employers.

What are employees interested in regarding workplace technology?

Employees are interested in new workplace technology and the potential of artificial intelligence to improve productivity and recommend career development opportunities.