Thanks to the pandemic organisations and employers the world over have been forced to rethink how they can fulfil the changing needs and expectations of their employees.
The measurable aspects that appear to be most important in attracting and retaining talent are flexible working hours, competitive benefits packages, as well as remote-working options. However, diversity, equity and inclusion (DE&I), the feeling of being valued and respected and needed, that is, all the cultural aspects are equally important in luring talent and making them want to stay on.
About 47 per cent organisations are offering flexible working hours to attract and retain talent reveals a study called ‘Time to Change the Way We Work’, by Verizon — an American technology-solutions company— and Omdia — a data, research, and consulting business focused on helping digital service providers.
Of the 1,128 global business decision makers, IT decision makers and users/employees who were part of the survey, about 42 per cent are offering remote-work options to lure and retain talent, while 42 per cent assure a culture where employees feel valued, respected and needed. About 43 per cent use competitive remuneration and benefits to attract talent, while 40 per cent focus on diversity, equity and inclusion (DE&I). About 39 per cent use ongoing training and education to retain talent, while 32 per cent focus on engaging their employees.
What may be concerning is that only 27 per cent of global decision makers offer strong and inspiring leadership to attract and retain talent. A significant 68 per cent organisations / employers did not even care to focus on employee engagement at all. On the other hand, 48 per cent employees expect flexible working hours, while 47 per cent look forward to ongoing training and education. About 46 per cent find that a focus on DE&I in an organisation is a source of attraction. Therefore, a gap does exist in the expectations of the employees and the offerings of employers. And this calls for workplace redesigning.
To conclude, while flexibility and a hybrid work model are necessary, it is the organisation’s culture that helps businesses meet their goals by attracting the right talent, ensuring that they are aligned with the common goal of the organisation, and also keeping the workforce motivated to do their best for the overall success of the organisation. In short, employee experience is crucial.
