Leadership and Ethics Expert From Egogo Communications Says Exemplary Corporate Ethics Are Key to Employee Retention
BOSTON, MA / ACCESSWIRE / June 3, 2022 / The Great Resignation in the United States continues with 4.5 million workers leaving their jobs. This leaves a number of job openings at a series high of 11.5 million according to a recent report by the U.S. Bureau of Labor Statistics. The increased positions are particularly prevalent in the construction, manufacturing, retail and transportation industries.
In a recent Global Workforce Hopes and Fears Survey it was noted that higher pay, more job fulfillment and wanting to be “truly themselves” at work are the factors pushing workers to change jobs.
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The Great Reshuffling, as it’s also called, is an aftereffect of the COVID-19 pandemic and is causing people to start their own business. Yet, 20% of new businesses with employees fail within the first year and 50% within five years according to the Bureau of Labor Statistics Business Employment Dynamics.
Matthew Ogieva, Founder and CEO of Egogo Communications and the author of Why A Positive Attitude is All You Need says this push from employees is underpinning the case for organizations to focus on ethical leadership more than ever. Satisfied employees and good corporate ethics are closely linked.
“Retaining employees and making them feel valued and effectively engaged in the course of their work is key,” says Ogieva, adding that ethical leadership seeks to look at the value ecosystem. “The other factor, particularly for startup companies, is setting up ethical business practices that influence corporate character. These two approaches are the most reliable way to ensure that businesses survive, not just today, but the future as well.”
Ogieva states that ethics goes beyond public relations points. Organizations that are driven by ethical standards not only see their portfolios grow, but they experience better financial performance.
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In today’s corporate culture, Ogieva says that it’s not just employees who are demanding more ethics in business, but consumers.
He cites an Accenture survey in which 50% of consumers – across demographics and geographies – said the pandemic caused them to rethink their values. They have reevaluated what is important to them in life and are increasingly focused on their personal purpose. This is having a direct impact on what, how and why they buy.
Ogieva says it has become imperative to look at a company’s commitment to diversity, sustainability, integrity, innovation, accountability, governance, and human rights. Organizations who prioritize the employee and customer over profits will survive.
“Today’s leader cannot undermine the importance of ethics,” Ogieva states. “It has the capability to make or break them. And as the world continues to look up to more ethically-sound leadership in the economic space, it becomes a requirement.”
ABOUT EGOGO COMMUNICATIONS
Egogo Communications Limited was founded by Matthew Ogieva, who is driven to make a case for ethics and value in leadership within the economic space. A company that serves clientele leadership and strategy needs through analysis framing and training, Egogo helps to create the path for organizational growth. For more information, visit Egogo Communications online.
CONTACT:
Matthew Ogieva
(617) 230-4265
[email protected]
SOURCE: Egogo Communications Limited
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https://www.accesswire.com/703903/Ethical-Leadership-is-Key-to-Reducing-Employee-Resignations-in-Corporate-America