As Australians grapple with a long-term cost-of-living crisis, the impact on both individuals and companies is profound. Inflation and rising interest rates have left over half of the population struggling to make ends meet, with many finding it increasingly difficult to afford basic necessities like food, bills, rent, and mortgages. This financial strain mirrors the hardships faced during the pandemic, where similar percentages of people were also struggling.

But it's not just individuals who are feeling the pinch—many companies are also facing significant challenges. From difficulties in retaining their workforce to delays in paying salaries, businesses are under immense pressure. Yet, even in these testing times, it's possible to cultivate a positive and thriving workplace.

In an exclusive interview with People Matters, Fiona Bridge, Head of HR at Lockton Australia and New Zealand, shared her strategies for maintaining high levels of employee engagement, leveraging technology to foster a thriving work environment, and promoting a healthy work-life balance. Despite the economic hardships, there are actionable steps that can help employees not only survive but also thrive. Wondering how? Here's what we learned.

Excerpts from the interview: 

What strategies have you found effective in maintaining high levels of employee engagement?

At Lockton, we promote an environment where open and honest communication is encouraged. As a privately owned business, our flat structure fosters an entrepreneurial spirit and encourages our people to drive decisions and influence the direction of the business – anyone can raise ideas, and we're all encouraged to think creatively. We provide regular updates on company goals to establish purpose alignment and always ensure our employees feel heard and valued. 

We believe a caring culture in the workplace enables personal and professional growth, and that's why we offer a variety of unique and innovative programs designed to create a supportive and engaging workplace for our people. Our Associate Resource Groups are communities of volunteers formed by associates striving to make Lockton even better, for its people, clients, and the community. These forums focus on Corporate Social Responsibility, Diversity, Equity & Inclusion, Wellness, and a new group for this year, Ignite, which listens to what’s important to our younger workforce and takes carriage of various initiatives to improve the employee experience.

As Lockton continues to grow, our shared values allow us to take care of our clients, ourselves, and the communities we are a part of.  Thanks to the generosity of the Lockton shareholders, the Lockton Cares Community Impact Award recognises an individual in each region who has gone above and beyond to make their community a better place through volunteering, philanthropy, or a combination of both. The winner of each region receives a $25,000 USD donation for a charity of their choice because, at Lockton, we want to show our people that we care about what they care about. This year, the Lockton shareholders have also introduced a Grand Prize whereby $100,000 USD was donated on behalf of the employee who has made the greatest impact globally.

We also recognise and reward high-performing employees via our Appreciate program. Each quarter this peer-nominated program celebrates employees who go above and beyond to deliver great outcomes and embody the Lockton values. On an annual basis, a nominee of the Lockton Appreciate program is then selected by our executive leadership team as the recipient of the CEO Award, to recognise their exceptional contribution to the business. 

Implementing these strategies, among others, has helped us create a more engaged, motivated, and satisfied workforce.

What role does technology play in your strategy for fostering a thriving workplace and can you discuss any specific AI tools or platforms that have been particularly beneficial for Lockton?

Technology continues to play an important role in fostering a thriving workplace, especially as Lockton continues to expand across the Pacific region. Workplace from Meta has been an important communication tool that has allowed employees separated by geography to feel connected with one another and was especially critical during the coronavirus pandemic. With Meta planning to sunset the platform in August next year, Lockton is preparing to adopt a new platform to promote and further enhance engagement across our region and the globe. 

Technology has also allowed us to offer continuous learning and skill development opportunities to all employees via online training and e-learning platforms, while Artificial Intelligence has helped us analyse feedback and draw insights from our employee engagement surveys. 

How do you promote a healthy work-life balance while encouraging a strong work ethic among your employees?

We understand that providing our associates with flexibility in the way they work creates an inclusive work environment and supports employee wellbeing. At Lockton, we are committed to enabling agile working within teams in a way that works for the business, our clients and our people. Feedback gathered over the past 12 months also highlights that a different approach to working practices will be both desired and expected by our employees. Having had much of the Australian and New Zealand population working from home successfully means that we can evolve how we work in the future, be more driven by what clients need and enable business areas and employees to make more choices about how and where they work. 

We focus on striking a balance between creating and fostering a positive and enjoyable in-office culture that encourages employees to work in the office, whilst also allowing our workforce to WFH in a way that best supports their work/life balance. Setting clear expectations during our Professional Development Plan process is crucial to align the individual and organisation’s goals, ensuring that our people have the environment and clarity needed to reach their highest potential. This approach gives our employees the flexibility to thrive both in the office and remotely, ultimately supporting their growth and our collective success.

Finally, those associates with an annual leave accrual of less than 15 days as of 1 December or less than 15 days as of 1 June are eligible to access up to two additional days of paid leave in the corresponding summer or winter period. This initiative is designed to support our team in maintaining a healthy work-life balance and ensuring they have the opportunity to take the time they need to recharge throughout the year.

How do you support and empower middle managers who are dealing with increased workloads and stress?

We ensure that our middle managers have access to the tools and support they need to succeed, including Uprise, an employee assistance program. Not only does it give our people access to a team of highly experienced and quality assured psychologists, but also a range of interactive programs, webinars and guides to support their general financial, physical and emotional wellbeing. 

Lockton also offers its people leaders a Leadership Essentials Accelerator Program (LEAP), which is designed to develop the skills needed to handle increased responsibilities effectively. This past year we covered essential topics such as Insights Discovery, Effective Feedback, Coaching to Lead, Leading with Empathy, Delegate to Empower, and Managing Relationships.

Furthermore, our Broking and Operational Leadership Team continuously explore opportunities to streamline processes to reduce unnecessary complexity. This helps our middle managers focus on their key responsibilities and minimise stress. 

Finally, we trust our managers with decision-making authority within their business unit. Empowering them to make decisions fosters a sense of control and reduces feelings of being overwhelmed. 

What strategies do you use to engage and motivate younger employees, particularly those from Generation Z and Millennials?

To engage and motivate younger employees, particularly those from Generation Z and Millennials, we use several strategies tailored to their values and preferences. For example, for the last three years, we have run a mentorship program in the Pacific region. This program gives employees across the business the opportunity to connect with senior leaders from different offices, areas of expertise, or experiences. As our people grow in their careers, it's important to connect with colleagues who can give them a different perspective than that of a direct supervisor. We’ve seen how this can spark creativity, motivation, and passion. Our Mentor program is designed to help our employees reflect on their career path, broaden their internal networks, and gain a deeper understanding of the industry. 

Additionally, we empower and inspire our people in the Pacific region through tailored learning and development programs. We foster a culture of excellence and innovation, building expertise and driving success. We regularly communicate with the business on different initiatives and promote our Learning & Development plan, including a training calendar, training framework and recorded webinars available on demand through our Intranet.  

Furthermore, our Ignite cohort, a professional growth community for 35s and under, fosters development, collaboration, and connection to give a voice to the next generation of leaders. Ignite organises activities and social events to facilitate interaction, creating spaces for sharing ideas, concerns, and feedback across the Lockton Pacific region. They also ensure a culture of continuous learning, providing the tools, resources, opportunities and support necessary to help individuals thrive both personally and professionally. 

One of their initiatives is a Career Allies program, which is designed to welcome connections between new and existing employees across various teams. As part of this program, new hires who opt into the program will be paired with existing employees. The purpose of this program is to offer support and camaraderie. Whether it's seeking advice on a work-related challenge, gaining insights into specific tasks, or even getting assistance in organising your work week, the Career Allies program is an excellent initiative.

You can also read: 

• Stigma to support: How to foster open mental health conversations in the workplace
• Training vs. transformation: UKG’s CPO discusses the best approach for Gen Z in the workplace
• How can HR adapt to the future of remote work? Fifty Acres CEO reveals key strategies

What advice would you give to other leaders facing challenges in fostering a positive and productive work environment?

To other leaders facing challenges in fostering a positive and productive work environment, I’d suggest a multifaceted approach.

Firstly, engage employees – actively listen to your team’s ideas and concerns, and make sure to incorporate their feedback where possible. Start by achieving some early wins to build momentum and show that their input leads to tangible improvements. 

Demonstrate the behaviours and attitudes you want to see in your team. Your actions will set the tone for the workplace culture and encourage others to follow suit.  Clearly define performance and development goals using your existing frameworks. Ensure these goals align with the organisation’s to give employees a sense of direction and purpose. 

Recognise and reward employees for their hard work regularly. Particularly with younger generations, frequent recognition can be a significant motivator and boost morale. Encourage a healthy balance between work and personal life. Supporting your team in this area can lead to higher job satisfaction and productivity.

Finally, prioritise building and maintaining a positive workplace culture. A strong, supportive culture enhances employee engagement and drives overall success.

By addressing these areas, you can create a work environment where employees feel valued, motivated, and aligned with the organisation’s goals.