Written by Josh Musominari
Across the globe organisations are expectedly different in their approach to work and take varied approaches to managing their workforce's. In the UK, companies are continuously monitored to assess their employees’ level of satisfaction, with the Times 100 Best companies to Work For acting as a scoreboard for success in this area. Organisations with strong levels of satisfaction benefit heavily from the reputational advantages in being able to attract and retain their people. Most organisations have experienced the difficulty in losing a strong team member or having a top prospect choose a competitor at some point and it’s important to note that money isn’t always the reason, but the employee value proposition!
Fostering a positive and engaging organisational culture is a major focus of most HR strategies and functions. The character and personality of your organisation are a sum of the values held by your organisation, your leadership, management, policies and people are the drivers behind work culture.
In these drivers is the ability to differentiate companies and develop unique organisational identities. Organisations that are consistently rated as top destinations have a clearly defined culture policy, elements of which are often recognised both internally and externally leading to higher performance and desirability.
Experimentation in this area is high, with many thought leaders extending themselves to implement practices that are unconventional. The majority of these policies stem from of a strong understanding of what employees’ desire and the impact this will have on both career and overall life satisfaction.
Numerous organisations have opted to implement a part or fully owned ownership model, giving employees incentive and a real stake in the success of their organisation. Organisation’s that implement these structures benefit hugely in both financial and employee performance, when compared to publicly traded entities. The stake employees have is elevated, naturally elevating engagement and pushing performance, given the added incentive to enhance the organisations position.
In addition to ownership, some organisations have implemented radical changes to positively impact employee work life balance. Assessing flexible work life patterns and locations has been a real focal point in the pandemic, with professionals having to deliver home-schooling amongst other interruptions to standard working hours. While these practices are not new, the uptake has been high in the current circumstances and growth in these practices may become more commonplace.
The opportunity to expand one’s skillsets and career prospects is a fundamental reason people pick one organisation over another. Adding value to an employees work experience as a whole will keep them challenged and ensure continued loyalty. Whether it is involving them in projects and presenting clear steps towards career development and pathways, ensuring your employees have this platform internally and don’t look externally will pay dividends for both parties down the line.
During the pandemic, the levels of unemployment have risen, but prior to this, talented people were in a position of real power and marketing the benefit to joining an organisation was a key to accessing the most in demand skillsets and talents. While the labour market will always tip the balance, the long-term value you present needs to be consistent and flexibly navigate the market.
If you would like to understand more about how we can assist navigating your talent search, contact us today.