The best
employer is someone that can entice, engage, enhance and retain its talent and
resources for continued periods of time. Global Workforce Insights report has
identified the top five qualities of companies that play a major role in
attracting and retaining its resources.
Let us see what makes you a Desired
Employer:
Quality #1:
Stability
The foremost
thing an individual looks for in an employer is stability and the ability to
sustain during any crisis. Small companies wind up during such time resulting
in loss of work and stability for its employees. This generation wants to know
if an organization can provide long-term financial security and is willing to
wait for it.
There are
several multi-product and solo-product companies that have retained about 20%
of their employees for over 20 years.
Quality #2:
Compensation
Since the job
market and economy is strengthening, it is quite likely that the employees who
were previously hesitant can now confidently look for newer and well paying
roles in other companies – Ensure you don’t lag behind on this aspect.
Example: Google
and Qualcomm. These companies provide salaries well above the national average a
recent Glassdoor survey revealed that more than 75% of these companies’ employees
rated the company favorably.
Quality #3:
Respect
The heavy
layoffs made the deserving, well performing and the long-time employees feel very
undermined and undervalued. Now since the scenario is better, it’s time the employees
are given their due in form of respecting their services. They definitely are giving importance to how
important the employer would make them feel for the growth of its own business.
Several
companies these days are providing this culture giving importance to people who
are efficient irrespective of whether they are full-time or part-time, also
providing opportunities for advancement.
Example:
Starbucks.
Quality #4:
Health Benefits
The most
important aspect based on which employers are chosen is “Health benefits.” In
present times, it’s impossible to consider an employer who doesn’t give health
benefits apart from the competitive salaries and perks. Along with this health
and fitness programs are a hi-fi!
Example:
Zappos provides 100% coverage for primary, routine and preventative care and an
in-house fitness center, several fitness programs and healthy meal options in
their cafeteria.
Quality #5:
Work-Life Balance
No matter what
a big fat salary you provide along with all the above, this one factor can
majorly decide who stays in the company and who doesn’t. It is big deal for
employees to manage a fine balance between family, personal commitments and
work. Several new-age employers are keen on providing polices that support
work-life balance.
Several
companies these days provide flexible shift options, work from home and several
other such benefits and perks that encourage an employee to give his best.
Conclusion:
An
organization that creates value for its hires will ultimately create value for
its shareholders.
Instead of desperately
launching loud recruiting campaigns, companies must focus on n basics if they
want to hire and retain worthy talent with competence and high value system in
today’s market scenario.
So, it’s time to assess how many points
away you are from becoming the most desired employer!
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