What Value Are You Offering Employees?

In the world of work, employers with multiple forms of value to offer have an advantage in attracting talent

- Richard Smith, Ph.D., Mamta Sharma, Asmaani Kumar, Arvind Laddha, Shanthi Naresh, Mint Kang, Bhavna Sarin, Jayanthi Vaidyanathan and Rachel Ranosa

WHAT VALUE PROPOSITION CAN YOUR ORGANISATION BOAST?

There's more to attracting and retaining talent than salary; astute employers have known this since the beginning of the employer-employee relationship. Companies that offer good benefits have always been popular places to work, and teams that are well managed have always done better. And in a day and age when talent has suddenly become scarce and talent mobility is incredibly high, driven by global connectivity and the Internet, this is more the case than ever.

The value that people perceive in a job and, ultimately, an employer, comes in several layers. First and foremost, the work they do must align with their short-term personal needs. This most often means compensation and benefits, but in recent years the scale has begun to tip in the direction of a compatible schedule as well-meaning flexibility and all the associated characteristics of an organisational culture that supports flexibility, such as trust and autonomy.

Candidates and employees also hope that the organisation will meet their future needs, which for many means career advancement. Learning and training currently take centre stage because of the upskilling rush in the last two years, but career opportunities – from networking, to stretch assignments, to a formal growth track, to internal mobility – are just as critical. Organisations that successfully pivot their talent management strategies to develop their people internally have seen the benefit of this approach in the 'war for talent'.