Employers are falling short of employees' expectations to invest in priorities, according to Ricoh research
Employees are no longer just looking for a paycheck and a stable job. They want meaning, impact, and a work environment that aligns with their values.
But according to new research from Ricoh USA, Inc.’s 2024 North American Workplace Fulfillment Gap Index, many workers feel unfulfilled, and employers who fail to address this growing dissatisfaction risk losing top talent.
Ricoh’s findings show that by nearly every measure, employers are falling short of their employees’ expectations to invest in organizational priorities that matter most to their fulfillment.
“The ‘fulfillment gap’ just recently came into the spotlight for companies,” explained Donna Venable, chief human resources and shared services officer for Ricoh North America.
“It used to be all about engagement and making sure employees were satisfied. It's evolved now to younger generations wanting to see more about what they’re contributing to beyond the work they're doing in the workplace,” she said.
From factors like work/life balance, purpose-driven work and a growth-oriented culture, over 1,000 Canadian workers ranked their overall fulfillment at a 6.89 out of 10, with pronounced fulfillment gaps between on-site and remote workers.
How employees speak to their level of fulfillment is incredibly important, especially for RTO (return-to-office) policies because, as Venable explained, how an organization defines hybrid work is going to impact the decisions that talented prospective employees make about joining any workplace.
“Having the opportunity to pause, listen and look at the information that is shared can really give you a leg up when it comes to your next phase of your hybrid policy,” she said. “That policy is contributing a great deal to cultures inside of organizations now.”
Indeed, culture within workplaces is one of the factors that employees consider to be top of mind for fulfillment with nine in ten (91 per cent) employees citing culture and comradery among those they work with is important to feeling fulfilled in their job, with hybrid workers more likely to cite this than onsite workers.
But what does culture really mean in today’s work environment? For Venable, it’s more than just perks or office aesthetics.
“When you think about how you experience work, it's not just the actual transactional work you're doing, but how you're interacting with others and how meaningful that is and how that helps us in advance,” she said.
Courtesy of Ricoh USA, Inc.
Employees also want a frictionless work environment and career growth opportunities. Companies that fail to offer this risk retaining talent.
“Employees have evolved in what they are looking to have in their employment relationship, it’s not the same as it was several generations ago,” she said.
“People don't necessarily come in and make a commitment for life. They are looking at an experience. They are working with organizations and culture evolves within the organization.”
As employees’ own personal needs or desires change, they make decisions, like leaving the workplace if they’re not happy, Venable explained.
“People are not only able to make decisions to change, but they’re more willing to make those decisions and change than prior generations,” Venable warned. “It puts all of us on our toes, from an organization perspective, to make sure we are adapting and listening.”
For employers looking to close the fulfillment gap, Venable emphasized listening and engaging with employees. “Listen, conduct surveys and probe,” she said.
“We need to listen to what's important to them and we need to change and adapt as well.”
Because hybrid work remains a major factor in workplace culture, Venable asserted organizations recognize that rigid return-to-office policies could push employees away.
“There are people who look at it still and say, ‘No, everybody should be in five days a week. That’s the only way to experience work.’ And other employees are saying “No,’ and they’re saying ‘no’ with their feet,” she said.
AI is also an emerging tool that could enhance workplace fulfillment rather than threaten it. While it’s often been portrayed as a job killer, many employees are warming up to it because it improves efficiency and frees up time for more meaningful work.
“People are finding some of that fear diminishing,” she said. “As they better understand it and explore it, they start to see the benefits. There's a lot of ways we can apply it in the business and home environment.”
Financial wellness is another overlooked aspect of fulfillment, Venable highlighted. While many companies focus on traditional benefits, providing clear pathways for retirement planning can make a big difference, notably pension plans.
“Thinking about retirement planning is incredibly important for everyone,” she said. “There's an opportunity for us as employers to think about the benefits that it brings to an employee when you're able to educate them and provide them with access to something as financially positive as a pension or a defined contribution plan.”
By being able to provide pensions and educating employees on the value pension plans bring, Venable believes you can differentiate yourself as an employer.
“When we typically think of wellness programs, we don't think of financial wellness, but it should be one of the aspects of wellness that everyone should include because it's something that you need to be thinking about early,” she said.
“You don't need to be thinking about it all the time, but you don't need to wait. It's something that you can embrace early,” Venable added.
