If there is one thing we have learned in business in recent years, it is the importance of human capital. An engaged, supportive and valued workforce is one of the key contributors to the company’s performance and success.
In 2022, we saw the “big resignation” and the “quiet renunciation”, and more and more people sought employment with purpose and alignment with their values. This year, I expect companies will need to work harder to retain top talent with an enhanced focus on purpose, empathetic leadership and clarity around their employee value propositions, which will include a greater investment in physical workplaces.
Potential and performance remain important factors in identifying top talent, but a third area becomes more important: commitment. Engagement is synonymous with energy, spirit, alignment and passion. Committed artists are seen as cultural bearers and are strong role models within an organization that can shape the success of your business.
Here are my 5 tips for attracting and retaining the best talent:
1. DEFINE YOUR PURPOSE AND YELL IT OUT ON THE ROOF.
According to the 2022 Edelman Trust Barometer, 60% of individuals will choose their workplace based on their beliefs and values.
As a result, creating opportunities that align with employees’ passions, as well as their Purpose and Values will have a significant impact on employee retention and talent recruitment.
Those adjectives cannot be out of line. Investing in your company’s vision and clearly communicating the why you do what you do will create focus and help people decide whether your workplace is a great fit for them.
2. PEOPLE AND CULTURAL MANAGERS NEED TO BE INVOLVED IN DESIGNING THE WORKSPACE.
Up until three years ago, Chief Financial Officers and Chief Executive Officers decided where offices would be located and what they looked like before we were directed to work from home. In today’s workplace, businesses have to give employees a reason to come back to the office and “commute” with staff. Who better to help make the office environment more attractive than the team that best understands people, People & Culture?
Chief Human Resources Officers are increasingly active in office leasing decisions as a result of a shift towards more human-centred businesses and increased demand for flexible workplaces. At Horizons Offices, we have a dedicated flexible workplace that offers tailor-made office spaces to fit the various needs of the company. We have seen a dramatic increase in demand for Horizons coworking environments due to the flexibility and professional network they provide in the new hybrid workplace.
3. DEFINE THE “SECRET SAUCE” WITHIN YOUR TEAM CULTURE.
Culture has never been as important as it is at the moment. I believe that in each organization with a great culture, there is a secret sauce that makes it special and unique.
At Horizons, it’s about knowing where we want to go and making sure we have the right people at the right time to do it. Activations can be introduced throughout the employee’s lifecycle. Therefore, if you want a living, authentic and open culture, you must offer the possibility of being honest and authentic. People are not looking for conflicting messages. It is therefore important to have consistent workplace messages that fit in with the culture. All this helps to reinforce confidence and psychological safety.
Employees need people and co-operation. In response, we are at the cutting edge of solutions like dedicated workspaces and customer experience leads in our Horizons offering. These new roles are fully responsible for establishing a vibrant and welcoming community and creating a fun but professional work environment for members.
When considering employee retention, I also believe employees with a genuine passion for what they do are more likely to stay, and I don’t think you can have genuine passion without a fabulous culture and strong sense of community.
4. LET GO OF A UNIVERSAL MINDSET.
We need to avoid putting people in pails and stereotyping them based on their profile characteristics. We have to take an individual approach and not assume that everyone is going to develop at the same pace or even want to. Ultimately, that’s what’s going to keep the star artists.
This is a genuine trait of empathic leadership. The best leaders are those who are empathetic and have both EQ (Emotional Intelligence) and IQ (Intelligent Quotient). Ability for leaders to tap into individual team member’s motivation and development drivers with the ability to walk in others’ shoes will be valued and support a vibrant and healthy culture.
Each person in your organization is different, so the policies and practices you have in place should consider the individual as a whole. People will stay to pursue opportunities that reflect their passions, goals and values.
5. DISCARD THE HR PACKAGE AND IDENTIFY NON-NEGOTIABLE ELEMENTS.
Five years ago, there could have been a list of “tools” for keeping staff happy. But now, clearly, we need to look at the employee value proposition as a whole. Start by asking potential employees for non-negotiable elements.
The common answers we’re hearing now are flexibility, an inclusive culture that supports diversity, and zero tolerance for objectionable behaviour. The other thing that’s non-negotiable is this concept of taking a human-centric approach and seeing your employees as not just a ‘worker’ but really understanding that they have a life outside of work and genuinely supporting their needs to maintain a work-life balance.
It’s not just an employee ID or a job title; it’s an entire person. If you meet those basic needs, it creates your foundation for success.