Attracting and retaining talent. It’s the battle cry of today’s marketplace. With unemployment low, it’s hard to find quality recruits to join our companies. So how do we attract talent when jobs are aplenty, the talent pool is shallow and people entering the workforce have different expectations of work than just a few years ago?
Of course, most people think, ‘offer more money’ but there is very little correlation between salary and job satisfaction. In fact, according to Journal of Vocational Behavior, Tim Judge et al, 2010, after reviewing 120 years of research spanning 92 quantitative studies, there is less than 2% overlap between job satisfaction and salary.
If money isn’t the best motivator, what do people want when looking for a job? Well, think about it from your own perspective. You are the candidate of choice for two companies. Company A has a great environment, offers flex time, great benefits, etc. but the salary is $10,000 less than Company B. You’ve done your research and know that Company A’s culture or environment is “churn and burn.” What is more important to you, a healthy work environment or money? For most people, the answer is work environment.
As employers are working to attract the right talent, culture is a critical piece. Examine your company’s culture. Is there idea sharing or is it command and control? Do your employees feel that they have a voice even if they don’t have a vote?
Step away from the values written on the walls. What would you say your employees think your company’s values are? Often, we work with clients whose values look amazing on the website and yet they put up with poor behavior from employees because they are making money for the company. So, what are the real values that go unstated? These are the values that leak out to the community and affect a company’s ability to attract talent.
With today’s workforce demanding great culture and meaningful work, attracting talent has become much more than competitive pay and a 401k. We must strive to provide the culture that employees seek out. At ICC we work with many people in search of their next job opportunity. When our coaches guide them in assembling a target list, they often start with the companies that are listed in the business publications as being a top company in the region. Who wants to work for a company with bad culture?
What do you think are the important aspects to attracting talent in this competitive marketplace?
Stay connected and join our list of world-class leaders, innovators, and human resource professionals. Be among the first to receive event invitations, industry reports and company-wide messages when you sign up to receive our newsletter.
The “Is it Worth It?” podcast series is a top leadership podcast that hosts conversations toshare rare and unfiltered advice from leaders in the trenches. We aspire to empower ourlisteners – that’s you – to be leaders worth following regardless of title or position.Explore previous episodes and subscribe to get the latest series sent directly to yourinbox.
Attracting Talent: The Battle Cry of Today’s Marketplace
By: Susan Ruhl
Attracting and retaining talent. It’s the battle cry of today’s marketplace. With unemployment low, it’s hard to find quality recruits to join our companies. So how do we attract talent when jobs are aplenty, the talent pool is shallow and people entering the workforce have different expectations of work than just a few years ago?
Of course, most people think, ‘offer more money’ but there is very little correlation between salary and job satisfaction. In fact, according to Journal of Vocational Behavior, Tim Judge et al, 2010, after reviewing 120 years of research spanning 92 quantitative studies, there is less than 2% overlap between job satisfaction and salary.
If money isn’t the best motivator, what do people want when looking for a job? Well, think about it from your own perspective. You are the candidate of choice for two companies. Company A has a great environment, offers flex time, great benefits, etc. but the salary is $10,000 less than Company B. You’ve done your research and know that Company A’s culture or environment is “churn and burn.” What is more important to you, a healthy work environment or money? For most people, the answer is work environment.
As employers are working to attract the right talent, culture is a critical piece. Examine your company’s culture. Is there idea sharing or is it command and control? Do your employees feel that they have a voice even if they don’t have a vote?
Step away from the values written on the walls. What would you say your employees think your company’s values are? Often, we work with clients whose values look amazing on the website and yet they put up with poor behavior from employees because they are making money for the company. So, what are the real values that go unstated? These are the values that leak out to the community and affect a company’s ability to attract talent.
With today’s workforce demanding great culture and meaningful work, attracting talent has become much more than competitive pay and a 401k. We must strive to provide the culture that employees seek out. At ICC we work with many people in search of their next job opportunity. When our coaches guide them in assembling a target list, they often start with the companies that are listed in the business publications as being a top company in the region. Who wants to work for a company with bad culture?
What do you think are the important aspects to attracting talent in this competitive marketplace?
About Me
Zulia Maron Duo
Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore.
Popular Post
Emerging Gen Z & A Managerial Call
May 9, 2023How to Tell Your Kids You Lost
April 28, 2023The Great Reset: Boost Employee Morale after
April 18, 2023Popular Categories
Popular Tags
Archives
Meta
Subscribe to our Newsletter
Stay connected and join our list of world-class leaders, innovators, and human resource professionals. Be among the first to receive event invitations, industry reports and company-wide messages when you sign up to receive our newsletter.
Subscribe to our weekly newsletter
Download ICCs latest ebooks featuring today’s hottest topics in leadership, managementdevelopment, coaching and outplacement.
Subscribe to our weekly newsletter
The “Is it Worth It?” podcast series is a top leadership podcast that hosts conversations toshare rare and unfiltered advice from leaders in the trenches. We aspire to empower ourlisteners – that’s you – to be leaders worth following regardless of title or position.Explore previous episodes and subscribe to get the latest series sent directly to yourinbox.