Many Businesses Say They Value Employees, But Data Tells a Different Story

Building trust and creating value for employees could be the cornerstone of organizational success in 2024. Deloitte’s 2024 Global Human Capital Trends report suggests that in an era when the workforce is increasingly influenced by new technology and evolving organizational needs, there is a growing importance of “human sustainability” in the workplace.  

According to Deloitte, the concept of human sustainability was introduced in the 2023 Global Human Capital Trends report and is described as, “The degree to which the organization creates value for people as human beings, leaving them with greater health and well-being, stronger skills and greater employability, good jobs, opportunities for advancement, progress toward equity, increased belonging, and heightened connection to purpose.” 

The updated study encompasses responses from over 14,000 survey respondents across 95 countries and emphasizes that organizations should prioritize human outcomes alongside business goals. This is a persistent issue in the modern workforce. Last year, 89% of executives in the survey agreed with the phrase, “My organization is advancing human sustainability in some capacity.” However, only 41% of workers agreed.  

The data reveals that most leaders recognize the significance of focusing on human and business outcomes together — what the study calls “human performance.” However, there is a notable gap between acknowledging this need and implementing effective strategies to achieve it.  

This is true among employees as well. When asked, “Is your organization helping you imagine how your job may change in the future, with technology or other advancements?” 76% of workers said the topic is “very” or “moderately” important. However, less than half (43%) of workers say their organization is helping them do so.  

The study also reveals that less than half of workers (43%) feel their organizations have left them better off (improved their well-being or employability) than when they started, further suggesting there is a disconnect between executive intentions and employee experiences. 

According to Deloitte’s report, “In our research, workers identified increasing work stress and the threat of technology taking over jobs as the top challenges to organizations embracing human sustainability.” 

Deloitte suggests that organizations must evolve beyond traditional constructs and leverage data and technology, such as Generative AI, to augment human capabilities at scale. Additionally, the research emphasizes the development of new metrics for measuring human performance — which go beyond conventional productivity metrics to capture the dynamic nature of modern work. According to the report, “Sixty-five percent of organizations said their people analytics created no commercial benefit for the organization over the previous year.” 

To bridge the gap from knowing to doing, the report advises promoting work environments that encourage innovation in organizational priorities, evolving governance structures, fostering psychological safety, and allowing workers to explore and experiment with new technologies. Additionally, it calls for a change in HR practices to build “people expertise” throughout the organization that enables teams to establish microcultures that align with overarching organizational values. By embracing these strategies, organizations could unlock their full potential and remain competitive in the future.