By Vikram Ahuja
Over the years industries have shifted from being product-centric to people-centric, from offline to online, and from extracting resources to harnessing innovation. This has reshaped company operating principles as well as employee motivations. Today, employees want their jobs to speak to their passions and interest, and this has forced businesses to change how they hire, retain and engage with their biggest stakeholders – their employees.
So, how do you attract, retain and engage talent in this fierce job market?
Consider a decentralized approach
Today, where you work doesn’t matter. What matters is productivity and collaboration. Nearly 90% of employees today, would prefer working fully remote or in a hybrid model. A decentralized and distributed workforce model can make you a lucrative employer if you want to attract new talent. It will also enable your company to hire globally, allowing you to tap into some of the top emerging talent hotspots of the world like Poland, the Philippines, and Kenya among others.
Stay ahead of the curve with agile
Agile work environments are much more productive and are known to benefit employees’ mental and emotional well-being. People want flexibility and autonomy in their jobs. Create an adaptive and flexible workplace environment, and provide your employees with the right tools for the job. This way you give them the autonomy to make decisions on how they need to do their jobs effectively and more efficiently.
Don’t ignore diversity — embrace it!
A diverse workforce is more productive, innovative, and creative. It has been proven that companies with highly diverse teams tend to be over 20% more productive than those that aren’t. The best way to ensure diversity is by having an inclusive culture from day one. Create an environment where your employees feel safe expressing themselves and being themselves without fear of judgment. Diversity isn’t just about race or gender. It’s about differences in culture, age, education level, and even personality traits like extroversion versus introversion that can make teams more effective collaborators. This is of utmost importance in global teams.
Build an employee-centric culture
Developing an employee-centric culture starts with understanding what people want from their employers and translating them into actionable initiatives to meet those needs. Create an environment where your employees feel valued, supported, and appreciated to keep them happy and engaged at work. Provide resources like training opportunities and professional development programs to encourage self-paced growth. Also, prioritize boosting employee engagement. Engaged employees will perform at a 3x higher level than disengaged employees and tend to stay longer with their companies too.
The ability to attract, retain and engage employees will play a key role in whether or not a company thrives, and more businesses are recognizing that. In today’s fast-paced, constantly evolving world, keeping your team inspired is no easy feat. But companies that succeed in these areas will have a massive advantage over those that don’t.
(The author is Co-Founder, Talent 500. Views expressed are personal and do not reflect the official position or policy of the FinancialExpress.com.)