The Race for Talent (and How You Can Win)
It's an all too well-known fact that today's economy is facing a shortage of skilled workers - across all sectors - as Boomers start to retire and the population supply fails to keep up with the demand for jobs.
A 14th annual survey recently conducted by Deloitte Consulting LLP and the International Society of Certified Employee Benefit Specialists indicates that the shortage of talented workers is now the number-one concern among employers in the U.S.
So then the challenge becomes for your company: How to recruit the best and brightest employees in the fiercely competitive and global race for talent?
Sure, you can keep increasing salaries, but that can only go so far - for the bottom line, of course, but beyond that.
Money is no longer enough.
You read right... the almight paycheck is not the single draw it used to be for earlier generations. Today's young workers have a different approach to work; they value:
- Work/life balance; the Millenials (20 to 30 year olds) expect and enjoy leisure in their life to a great extent - and that extends even to the number of hours they work and the kind of work environment (casual, innovative, flat hierarchy).
- Respect - for their bodies and minds. This is a very confident generation with lots of self-esteem; treat them right or they'll walk. (And there are plenty of employers for them to walk to.)
- Knowledge: today's Internet-centric world has given younger workers exposure to ideas and information that far surpasses their parents during their working lives. They give and get opinions everyday through online news groups, chat rooms, blogs and more. They won't think twice about posting video, photos and anything else that expresses how they feel about something - and that includes the employers they are working for, or considering working for.
Lure them with safety and health best practices
As mentioned, respect is a core value for the younger generation: Respect for their own safety, as well as respect for the planet.
Safety is catching up with the environmental movement as a mainstream concern among 20- and 30-somethings.
And that's a good thing - from your perspective as an employer.
What it means is that you can offer optimal safety and health training, orientation, procedures and policies - practiced continually across all aspects of your business - to help lure potential employees to your company.
New hires want more than just great pay, and investment in health and safety is one very powerful way to give it to them.
Of course, this kind of investment also brings you:
- Decreased absenteeism, decreased downtime = increased productivity
- Lower costs for injury worker claims and sick leave
- Lower turnover of employees, resulting in lower recrutment and training costs
- A higher, more positive profile as a safety champion employer.
