Employers are convinced that finding talented workers has become a frustrating game of hide-and-seek.
To be fair, they’re partially correct.
Star performers are out there, but not in the numbers companies would like to see. Consequently, 40 percent of employers report having a tough time filling seats with key players, according to a ManpowerGroup survey. It’s only going to get worse: According to McKinsey Global Institute, by 2020 there will be a talent scarcity of up to 18 million people.
Troubling statistics? Yes, but not surprising. Millennials and Generation Z-ers habitually start in the corporate world only to decide they want to launch independent careers. They’re jumping into the entrepreneurial world headfirst with plans to “do it better.” Those who aren’t quite ready to be their own bosses haven’t planted roots, either. Nearly two-thirds of millennials are looking to leave their jobs in the near future, according to a Gallup poll. This turnover will cost employers an estimated $30 billion each year.
Accepting these facts is one thing; learning how to stave off the brain drain for your copmpany is another. Employers serious about wooing and maintaining talented people must point the mirror inward and examine the one thing that can stop the trickle: a robust, empowering company culture.
Looking for Long-Term Success? Treat Employees Like Assets
Finding the best of the best is half the battle. Once you have them, you owe it to your bottom line to keep them. Recruitment and training are expensive propositions. Miss the mark and lose someone terrific, and you’re back to square one.
This is where culture plays a huge role. Not only does your company culture help bring good employees into your offices, but it also keeps them in the seats. LinkedIn is a prime example of an organization that gives culture more than just lip service. With a team dedicated to creating an impressive employee experience, is it any wonder the company snagged a spot on Glassdoor’s “Best Places to Work” list in 2018?
What is LinkedIn’s secret sauce? Everything boils down to offering employees what they want and need to feel like part of the whole. Monthly themed events like “Community Day” buoy workers’ spirits and encourage connections. Those connections — not to mention the other substantial perks of working at a well-respected place — make it tough for team members to simply walk out the door.
Ready to employ some talented folks and keep them around for the long haul? Implement a little creative thinking to become your industry’s go-to company for successful performers.
1. Keep Your Ear to the Ground
As the saying goes, you have one mouth and two ears for a reason. Make listening a powerful strategy by finding out what “office culture” means to your employees. Take this exercise seriously. Your colleagues will appreciate having a say in building a tremendously satisfying company culture. Remember: It’s all about the team.
2. Show Some Flexibility
Is your workplace fraught with rigidity? Open it up with a little flexibility. Whether that means giving people time off, allowing occasional remote work, or establishing multiple private and open workspaces, it’s bound to change your corporate rhythm and improve relationships.
3. Feed Employees’ Needs
People are spending more and more time at work, so it may help to provide employees with the healthy fuel they need to keep going. Why not institute a fun event like a “snack happy hour” to boost productivity and make the office feel more like a community? Make sure the nibbles are nutritious and interesting, not run-of-the-mill fare. Monthly deliveries of Rip Van Wafels and The New Primal jerky are far more inviting than anything out of a vending machine.
Today’s employees expect more from their companies than just a desk and a paycheck. They want to be engaged, challenged, and given opportunities for growth. With competition stiffer than ever, it’s important to do everything you can to retain your top talent. The stickier your culture, the more your employees will appreciate being longtime members of your tribe.