Stagwell Inc. · NASDAQ:STGW
Stagwell — RRU Webinar (March 2024)
23 slides from Stagwell's conference presentation, Mar 21, 2024
Slide 1: The Politicization of Return to Office
The Politicization of Return to Office March 21, 2024
Slide 2: Where are we as business today?
Where are we as business today?
Slide 3: Four Years into the Work-from-Home Experiment, Culture War is in Full Swing
Four Years into the Work-from-Home Experiment, Culture War is in Full Swing 3
Slide 4: Where you work from has become a partisan issue
WHERE YOU WORK FROM HAS BECOME A PARTISAN ISSUE Remote work is good for: 1 00% 90 % Democrat Republican 80 % 73% 70 % 60% 62% 60% 60 % 59% 51% 52% 51% 50% 45% 47% 47% 40 % 39% 39% 31% 30% 20% 1 0% 0% Employee well- Profitability Company's bottom Efficiency Product / service Creativity Career being l
Slide 5: Q: What's Causing the Culture War related to Work From Home?
Q: What’s Causing the Culture War related to Work From Home?
Slide 6: A: Difference in Values
A: Difference in Values 6
Slide 7: GOP: WFH Detrimental to Workers, Career and Industry
GOP: WFH DETRIMENTAL TO WORKERS, CAREER AND INDUSTRY Republicans Democrats % Agree It’s frustrating hearing complaints about having to work in-person when so many front-line workers do it daily. 73% 64% I strongly associate remote work with the pandemic, not as a long-term work trend. 64% 59% Work h
Slide 8: Democrats: WFH Supports Inclusion, Well-being
DEMOCRATS: WFH SUPPORTS INCLUSION, WELL-BEING Democrats Republicans Corporate America should prioritize policies that genuinely improve 81% employee well-being instead of focusing so much on return-to-office. 70% As long as a remote employee gets their work done it 74% shouldn’t matter if they do ch
Slide 9: A: Diverging Demographics
A: Diverging Demographics 9
Slide 10: WFH More Common Among Educated, White Americans
WFH MORE COMMON AMONG EDUCATED, WHITE AMERICANS Source: U.S. Census Bureau data; Graphics by The New York Times
Slide 11: Millennials, Gen Z Are Leading the WFH Narrative
MILLENNIALS, GEN Z ARE LEADING THE WFH NARRATIVE “Companies are out of touch for focusing so “Companies exploit employees by mandating in- heavily on back to office protocols” person work for roles that could be done remotely” Gen Z 60% Gen Z 60% Millennial 69% Millennial 68% Gen X 58% Gen X 52% Boo
Slide 12: 62% of Millennials believe they have leverage over employers
AND THEY BELIEVE THEY HAVE LEVERAGE OVER EMPLOYERS 71% of Millennials “I could readily seek out a job with higher pay” (64% General Public) 62% of Millennials “I feel like my employer needs me more than I need my job” (56% General Public) 55% of Millennials “I have the power in negotiations more tha
Slide 13: At the Same Time, Gen Z Has a Steep Learning Curve
AT THE SAME TIME, GEN Z HAS A STEEP LEARNING CURVE 82% 65% 59% of managers say their new Gen Z of Gen Z workers say they of Gen Z workers say they hires’ soft skills need more don’t know what to talk still need to figure out who guidance, time and training about with their coworkers to turn to for h
Slide 14: Now that Everything is Politicized, What Does the Future of Work Look Like?
Now that What Does the Future of Everything is Work Look Like? Politicized, 14
Slide 15: Generational Values Top Business Leaders' Concerns
GENERATIONAL VALUES TOP BUSINESS LEADERS’ CONCERNS How much or little of an impact do you think the following will have on business operations? Among global business leaders at the Milken Institute Global Conference A little bit of an impact A lot of an impact Impact NET Changing generational values
Slide 16: Americans Place Quality of Life Over Success at Work
AMERICANS PLACE QUALITY OF LIFE OVER SUCCESS AT WORK Americans say that Employed Americans “quality of life today is agree that they “care determined” by how one more about who they are 71% spends their time rather 68% outside of work” than than how much money they do about their work one makes iden
Slide 17: 'Broken Promises' Lead to Younger Workers' Discontent
‘BROKEN PROMISES’ LEAD TO YOUNGER WORKERS’ DISCONTENT % Agree 56% My ideas and suggestions are often overlooked at my company 61% 64% 54% I was promised a better work-life balance that never happened 60% 67% 53% General Public I was promised better benefits that never happened 60% Gen Z 63% Millenni
Slide 18: Employees' Priorities Have Shifted
EMPLOYEES’ PRIORITIES HAVE SHIFTED What are you looking for in your career in the next 5-10 years? Please select all that apply. Among employed Americans Build financial stability so I can 37% 38% Millennials pursue what I care more about Establish a better work life balance 35% 38% Millennials Doub
Slide 19: Ask of HR Moves from 'Power Over' to 'Power With'
ASK OF HR MOVES FROM ‘POWER OVER’ TO ‘POWER WITH’ Productivity Boosters Loyalty Boosters 78% 74% 77% of American workers 78% of American workers of American workers of American workers would be more loyal would be more loyal would be more would be more to a company that to a company that productive
Slide 20: So, what do we, as business leaders, do?
So, what do we, as business leaders, do? 20
Slide 21: Modernize Employee Comms and Engagement
MODERNIZE EMPLOYEE COMMS AND ENGAGEMENT What employees want: Where employee comms can go wrong: • In most companies, 70+% say they don’t have a • 74% of Millennials say new technology makes their clear view of the company’s strategy lives easier, 54% feel new technology helps them be more connected,
Slide 22: Advice for Business Leaders Today
1. Know your work force – and values at both ends of spectrum Understand and respect stark difference in values between Gen Z and older employees, pressures they feel, opportunities they see 2. Communicate and live your values – don’t make it political Help employees understand business better, incl
Slide 23: Thank you!
Thank you! Ray Day, Ray.Day@StagwellGlobal.com Alexis Williams, Alexis.Williams@StagwellGlobal.com Drew Higham, drew.higham@harrispoll.com