5 minute read
The invisible revolution in work culture
When I first reviewed our Talent Trends 2023 Report, I found myself reflecting on how much behaviour in the labour market has changed over the last few years, particularly in the last 12 months.
This research piece on human behaviour and decision-making sparks interest, particularly when trying to make sense of what is playing out day to day in most organisations. Some examples include talent changing roles very regularly, talent constantly having one eye on the market for fear of missing out, talent overtly changing roles to grow their earnings and improve their job title It’s a very different landscape to 5 years ago.
I then had a moment of realisation when it hit me that we ourselves were not immune to the findings! It’s a good sobering reminder to us as recruitment leaders that we are seeing unprecedented change in how talent makes decisions, responds and acts – and we need to be doing everything possible to keep our own talent engaged and progressing.
For our report, we surveyed just under 70,000 people globally and 2,200+ people in Australia. We discovered that a staggering 90% of employees are open to new opportunities. Employee loyalty is not what it used to be, especially for the younger generations. Many of us in recruitment have spent significant chunks of time (decades even!) with one organisation. This just doesn’t resonate as a stay factor anymore Bring to life the significant personal growth journey their career chapter can bring, for whatever time they may invest their career with you. This shift is because broadly speaking, employees no longer feel emotionally connected to their employers and workplaces. The current focus is self-preservation with all factors in life contributing. The emotional benefits that many used to derive from their jobs, like passion and a sense of belonging, were replaced by these experiences outside of work.
This shift also means that nonmonetary incentives won’t be enough for companies to attract and retain talent. So, what matters most to employees when considering their next role? Based on our research, the top five factors that motivate talent are salary, flexibility, office location, career progression, and work-life balance
To attract talent, it’s crucial for companies to offer competitive salaries that are benchmarked accurately. Flexibility has become increasingly important, across “where I work”, “when I work” and “what I work on”. Organisations need to embrace it as a business strategy. Office location is also significant because it ties into employees’ desire to prioritise other aspects of life, and reduce their commute time. On top of that, career progression is a huge focus this year, and work-life balance remains crucial.
If you like me, find yourself perplexed about the current landscape at times, download our report via https://pageinsights co/m/2023
