With increasing volumes of vacancies across the board and as furlough comes to an official end in September, now is a crucial time for businesses to retain quality employees and attract the best talent.
Competitive salary and attractive career prospects are important but candidates are also looking beyond their pay check and never has work life balance been more significant. This is why employers must ask themselves if their company culture and values stack up against competitors and if their team feels connected and committed to the company purpose.
In my field of expertise of the IT industry, we are seeing many businesses revamping employee value propositions (EVP) to build stronger relationships and a sense of belonging for their teams.
As some businesses extend fully remote models for future, candidates may be thinking they could work anywhere for anyone, so robust EVPs could make all the difference to retention rates and also for attracting optimal new talent.
During the pandemic, the recruitment industry across the board was stagnant with the fear of the unknown but with individuals re-evaluating their prospects and their priorities, change is on the horizon so businesses need to react now or risk losing staff. We are also seeing trends of skills shortages and large gaps in recruitment so retaining and nurturing the current team can only positively impact consistent productivity in the long run.
It has been such a seismic change with the lines between home and work life becoming blurred. The focus has been on output but human interaction is integral for wellbeing. It is important to involve your people in company decisions and create an environment where they feel heard and part of the bigger picture.
I believe people should work where they are most productive whether that is at home, in the office or in a public space but regardless of location, connection is key. That means that whether you intend to continue operating your business by working remotely, introducing a hybrid model or welcoming a full office back, every business should be fostering an ethos and culture that is inclusive to employees. If your team can play an active role in that and take ownership of elements, not only will it strengthen their association with the business it will also enable optimal output for the bottom line.
Alongside encouraging a positive culture for current staff, businesses should be looking at long-term plans and their on-boarding process for new recruits. Right from the beginning, it is important that job adverts match the true company ethos and therefore attracting the best, most aligned talent. Then once they join the team, the on-boarding process will be crucial in building trust and commitment.
With the economy on the road to recovery, it is no surprise that candidates are now considering a change of role so my advice to businesses is act now, or it could be a missed opportunity where you lose out on your top talent and you are not on the radar of the best new candidates.
