Updated: Aug 11, 2020
At each end of the fiscal year, upper and middle management associate numerous factors that contribute to an organization's success. In consecutively tumultuous times with all industries riddled with uncertainty, it is inevitable that executives will be posing that doubt-stricken question to their teams: Where can we afford to make cuts? Out of all departments that are impacted by the results of a difficult year or few years, there is one area of expertise that is guaranteed to keep organizations running like a well-oiled machine: industrial and organizational psychology.
In short, industrial and organizational (I/O) psychology focuses on studying human behaviors in the workplace. So often, organizations in their drive to exceed monthly KPIs and yearly OKRs inadvertently take a 'process over people' approach to solving problems. Employees are the cornerstone of every process that is planned, executed and completed within an organization. A lack of understanding your workforce cracks your organization's foundation, negatively impacting all measures of operational performance.
A major concern for organizational workforces today is whether or not their company will be able to survive the economic difficulties that every industry is facing right now. Having professionals on your team who are able to apply I/O research as it relates to setting and analyzing data trends in talent development with the aim of optimizing the quality of deliverables is a way to predict your organization's future. Your employee's minds will be at ease in times of uncertainty, knowing that their employers are invested in keeping them employed regardless of what job up-skilling or position shifting that will need to occur.
I/O professionals are a strategic differentiator from your competitors who focus solely on improving workplace environments and applying theories of organizational development to maximize employee engagement. Now more than ever, it is imperative to understand what this area of speciality can do for your organization in order to understand how to strategically navigate workforce changes without losing revenue. The opportunity has presented itself to modify the 'business-as-usual' identity within all market industries. Devoting the time to hire these professionals or offer additional education for existing employees in this area of expertise will improve the quality of life for employees and the continued good health of your organization.
Brook, J., & Jessica Brook. (2020, February 17). Why is Employee Engagement Important to Company Success? Retrieved July 21, 2020, from https://www.socialchorus.com/blog/employee-experience/employee-engagement-key-to-company-success/
B. G. (2018). Huh? What? A quick guide to understanding Industrial and Organizational Psychology. Retrieved July 21, 2020, from https://www.linkedin.com/pulse/huh-what-quick-guide-understanding-industrial-britt-gottschalk/
Panchadsaram, R., & Prince, S. (2020, June 23). What is an OKR? Definition and examples. Retrieved July 21, 2020, from https://www.whatmatters.com/faqs/okr-meaning-definition-example/ The definition of “OKRs” is, encourage engagement around measurable goals.
What is a Key Performance Indicator (KPI)? (2020). Retrieved July 21, 2020, from https://kpi.org/KPI-Basics
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