Rather than focusing solely on the financial-related implications of strategic and other decision-making, KPMG advises boards (page 6) to “walk the talk” on the value of the workforce to the company’s performance and success by regularly integrating employee expectations and implications into their board discussions. This is particularly important as employee expectations about work-related flexibility (which means different things to different people) and work-life balance have changed, and continue to evolve, based on the implications of the COVID-19 pandemic and other significant developments that have elevated the importance of human capital management and oversight.
More than 80% of 238 directors participating in the firm’s June 2022 roundtable discussion indicated that their board or a board committee regularly or sometimes discusses employee expectations.
While the vast majority of 311 directors rely at least to some extent on management for information about employees, nearly 40% get information from employees themselves, and 30% get information from third-party sources. One roundtable panelist encouraged boards to find ways to access employees directly via, for example, off-sites, town halls, and other corporate events, as well as indirectly through e.g., surveys and written comments.
Access a replay of the webcast here and additional resources on our Human Capital/Workforce Management page.
This post first appeared in the weekly Society Alert!