Reinventing corporate culture to win the talent war

The pandemic has undoubtedly had a profound impact on people and businesses around the world, with many now wondering what they want from work and life. This has fueled the “Great Reshuffle” or “Great Resignation” as some call it, as people rethink where they work, how they work and, most importantly, why they work, and seek opportunities that give them the balance they need to do everything. things that are important to them.

With the New Year being a prime time for people looking for new opportunities, LinkedIn research finds that more than two-thirds of workers in the UK plan to change jobs in 2022 – the highest figure among workers Europeans – with one in five actively looking for a new role. Gen Z has the greatest desire for change with nearly 8 in 10 (77%) considering change. This comes as 9 in 10 professionals feel confident in their current role, and many are looking for a new challenge. Changing employee priorities and expectations will not go unnoticed by HR professionals. Masters of adaptation – having led companies through two incredibly challenging years – they have the foresight and experience to know that scaling is crucial to attracting and retaining great talent. That said, the likely disruption to businesses in the coming months, as employees vote with their feet and seek opportunities that better meet their needs, may seem a little relentless.

Going forward, it will be companies that evolve their employee value proposition and reimagine where, when and how work gets done that will have an advantage. The 10th edition of LinkedIn Global Talent Trends The report highlights three areas that organizations will need to adopt to attract, retain and develop talent in the coming year.

Create greater flexibility
Employees have shown time and time again over the past two years that remote working is not only possible for those with work that can be done from anywhere, but can actually be beneficial for both employers and employees. Our research reveals that employees are unwilling to give up this flexibility, with flexible working options proving essential when it comes to attracting and retaining talent. LinkedIn data shows that employees who are happy with their flexibility are 2.6 times more likely to report being happy at work and 2.1 times more likely to recommend working for their company.

Leaders also see the benefits in terms of performance and productivity. According to a study of over 250 C-level managers in the UK, the vast majority (86%) are changing their workplace policies in the wake of COVID-19 to give employees more choice about where they live work in the future.

While greater flexibility is undoubtedly good for people and businesses, a hybrid and remote workforce also presents new challenges that will need to be managed carefully to ensure that people who work remotely feel connected to their colleagues and are treated fairly. For example, near three quarters of employees in the UK are concerned that working from home could impact their career progression, particularly in relation to promotions and pay rises. If left uncorrected, “proximity bias” could unfairly benefit those who choose to work from the office over those who choose to work remotely.

To ensure that flexible working is fair for everyone, companies will need to re-evaluate their entire working models and culture. Solutions could include training team members on how to avoid creating bias and changing the way meetings are conducted so that everyone feels included, regardless of where they are. .

Priority to employee well-being
The reality is that if you don’t have a healthy, productive workforce, you won’t have a healthy, productive culture. And while flexibility has proven to be a key driver of employee wellbeing, we’re seeing companies go beyond that to show care and compassion for employees.

During the pandemic, many employers have beefed up mental health support as part of their employee assistance program, offering their employees access to meditation apps like Headspace and Calm.

Companies have also sought to improve employee well-being by giving back time to employees through half days or weeks off, or even streamlining internal processes to shorten and reduce unnecessary meetings. Platoon encourages their employees to set aside time in their calendars to take care of important personal matters, as well as helping leaders establish “no meeting” times for their team.

By using people analytics tools to identify issues and training managers to be empathetic leaders, companies can understand how their employees are feeling and make a real difference to employee well-being. LinkedIn data shows these initiatives are having a significant impact – employees who feel loved at work are 3.1 times more likely to be happy at their job and 3.7 times more likely to recommend the company as a place to work. work.

Reinventing corporate culture
One of the main drivers of the Great Shakeup is that employees want a different relationship with work. By rethinking, renewing and prioritizing company culture, companies can stand out in this competitive talent market. A key part of this will be showcasing company culture through a strong employer brand.

We are just getting started in this new world of work and organizations around the world are grappling with the opportunities and challenges it brings. By increasing flexibility, focusing on wellbeing, and reinventing corporate culture, companies can ensure their organization remains attractive to existing employees and potential talent, even in the face of change.

With data from LinkedIn showing that candidates view 1.5 times more jobs before applying compared to 2019, culture may be a selling point for job seekers. Since the pandemic, the top three things job seekers now want in their next role are a good work-life balance, solid compensation and benefits, and great colleagues and culture. So while the focus on hypergrowth and lofty ambitions might have been successful in attracting talent before the pandemic, companies may now be more successful by highlighting their flexibility, inclusive benefits, and how they support employees.