The evolving relationship between employers and employees.
Relationships are about satisfying needs.
In the past, employers offered their employees long-term job opportunities in exchange for a lifetime of hard work. That relationship is almost unrecognizable today, where the average tenure for an employee aged 25-34 is a mere 3.2 years.
Given that the relationship has changed, so too have the needs of both parties.
Let’s take a look at what employers and employees need (and how to make sure they both get it!).
Employees now prioritize life alongside work, opting for flexible schedules and in some cases less-than-full-time work. Covid-19 has rendered remote work permanent (and that’s almost unanimously a good thing!), which should eliminate the unnecessary tethering to desks in offices from nine to five.
Studies show today’s employees crave flatter organizations that empower teams to deliver results using a unique combination of talents and collaboration skills. They want a voice and they want to be heard. Today’s employees want to inspire each other, peer to peer, and to act on their initiatives to deliver innovative results.
Opportunities to grow
Careers are now built by establishing skillsets that can translate into dynamic opportunities, either at their current company or elsewhere. To build skillsets, employees need access to learning and development programs that nurture and managers that inspire.
Organizations with purpose
Purpose matters. Organizations with a strong sense of purpose report higher engagement rates and longer tenures. Today’s employees focus heavily on why they do what they do – they are driven by purpose-led work that contributes to society, and as such seek companies with a strong sense of values.
To attract and retain great employees
This one is simple. If you want your company to grow, you need great people in your ranks. That means making yourself attractive to the best talent out there. If they don’t want to come work for you, then your business complexity will outgrow your talent density, which means trouble.
So how do you ensure people want to work for you? How do you separate yourself from others competing for the same talent? How do you ensure that, once hired, your people commit to staying at your company rather than being lured elsewhere (within 3.2 years – see average tenure above!)?
How Employees are Attracting Talent:
Opportunities to learn
Dynamic, personalized learning programs demonstrate an investment in the employee, not just as a professional, but as a person. It shows a commitment to empowering growth and facilitating skill development.
The workplace needs to be a place where people connect, inspire, and grow.
Hiring and inspiring – find those who fit, and teach them
Organizations have realized that hiring is not just about skills, it’s about values. If you hire someone who fits your culture, your ethos, someone you can rely on to communicate and collaborate effectively with teammates, then you can train them to do everything else. Hire people who know how to learn.
Upskilling and reskilling with internal academies
Internal learning academies provide dynamic career opportunities within your own company. It gives your employees perspective on the paths towards mastery and lets them plan careers using dynamic learning programs to take them there.
Notice that everything here hinges on learning programs: they create cultures of curiosity and inclusivity, giving both employers and employees what they need.
Individuals get increased autonomy and career opportunities while being given the change to handle their own career trajectory. Organizations save time and money scrapping in crowded talent markets while creating a positive culture that invests in their people.
Learning empowers individuals and organizations alike, helping everyone move into an unpredictable future equipped to take change in their stride.