Traditional workplace perks such as 28 days of vacation, paid sick days, dress down Fridays, and bake sales, are no longer as attractive to your teams. Now, both existing staff and prospective employees want more from their role and company culture.
The death of the office
Needless to say, the transition from in-person to fully remote and hybrid working came with teething problems. But over the past few years we’ve seen that we can get the job done at home and in the office.
The pandemic has transformed what we know about work. Employees now have different expectations when pursuing new roles. We’ve witnessed a shift in priorities – and hybrid working is no exception.
Employees want a say over where they work, with 63% of workers saying that they don’t want to return to the office full time. As we move out of the pandemic, employers who continue hybrid working are certain to come out on top, creating further trust and flexibility between employees and employers.
So, if you want to attract and retain talent, you need to offer some kind of flexibility in employee schedules, whether that means allowing employees to work from home or allowing them to work outside of the traditional nine-to-five hours.
The importance of employee data
As many organisations struggle with the new ways of working, data should sit at the heart of the decision making. Companies harvest all kinds of valuable and usable data from their employees, and they need to capitalise it.
91% of businesses say that data-driven decision-making is important to the growth of their business. So, if organisations use this methodology for product development or marketing, why don’t they use that approach when it comes to recruitment and retention?
Organisations need to select data from across their HR infrastructure, such as an ATS or Talent System, and then begin the analysis journey to understand employee behaviour. By utilising and maximising people analytics tools, you can drive successful decision making. In order to accurately forecast future outcomes and identify trends in HR, predictive analytics is needed to examine the past and present data. With the help of these tools, businesses can not only select the important data but crucially analyse the data efficiently.
Human Capital Management solution (HCM)
The bottom line is that business owners and managers need to acknowledge that managing employees has become a lot more complicated. As a result, organisations need to put in place a powerful HCM solution – a strategic approach to hiring and managing your team.
In addition to helping HR recruit and onboard the right candidates, HCM will also drive greater engagement among your current employees through work-life solutions that motivate employees and provide a great employee experience. Active management is going to be crucial if they want to build a productive, well-balanced, and committed workforce. Furthermore, employee wellness and mindfulness are critical factors to consider, so your teams can adapt to the new demands placed on them.
The pandemic will hopefully pass. But the world of work has changed for good. With a hybrid structure in place, internal teams will have access to remote-ready talent and businesses will attract new candidates. Additionally, harvesting and utilising people analytics data will ultimately help drive internal mobility for employees and enable better company culture as well as drawing in new talent and retaining your experts, and all the while delivering improved business outcomes.
Employee outlook has changed over the last twelve months and businesses who won’t adapt run the risk of losing their talent to other businesses that meet employees personal and professional goals.