Companies that implements the New Ways of Working (NWoW) are likely to be more competitive as far as attracting new talents is concerned. To better acknowledge this let’s talk about the future trend in the labor market.
For the companies competing for the best and brightest talents, there’s good news and bad news. The latest college graduates appear to be more prepared to enter the workforce than we’ve seen in recent years. But many employers aren’t taking the right steps to attract them or to hang onto them once they do.
The College Graduate Employment Study by Accenture Strategy found that nearly half of 2015 graduates (49%) consider themselves underemployed. There is plenty of opportunities for the HR managers to hire the best talents, here is what they should do:
Make connections early.
Almost three-quarters (72%) of graduates they surveyed had an internship, apprenticeship, or co-op during college. Companies that don’t offer internships or similar types of opportunities are all but leaving the best entry-level employees on the table for their competitors to recruit.
Turn your hiring processes digital
Young Millennial and gen Z workers are digital natives, so it’s no surprise they’re using digital tools and platforms to look for work. In fact, nearly two-thirds (64%) of graduates have used a mobile app to search and apply for positions, and they consider social networking the most effective method for finding a job.
The research found that just 15% of new graduates want to work for a large company, which hints that even the best-established corporations are falling short of young employees’ expectations. Millennials want both creative work cultures as well as environments that promote transparency and give them a chance to advance quickly.
Bigger companies can’t change their size. However they need to prove they can offer experiences similar to smaller companies. The bigger companies already have the infrastructure to support flexible working as well as the resources to create smaller, specialized teams.
Develop talent for now and later
The newest graduates in the workforce don’t just want chances to learn and grow, they expect them. 77% of those they surveyed expect their employer to provide training in their first job, but only half said they got it. That means that the youngest employees can’t entirely be blamed for jumping from one job to the next after very short tenures. Offering long-term development opportunities can put your company a cut above the competition and help you hang onto great talent after making the hire.
Create a fun work culture
For the newest college graduates in the workforce, culture trumps compensation. Sixty percent said they would prefer to work at a company with a positive social atmosphere and earn a lower salary than make more money someplace where it’s less fun to work. Employers who offer entry-level employees challenging work while also creating an enjoyable culture are at a competitive advantage.
That’s all about finding and hiring these new talents, but what are the efforts to make to retain your new hires?
Keeping your best talents was easy when few companies were hiring and employees felt stuck at their jobs. But now, retaining them is a struggle again for many managers. Workers feel less loyal to their companies than they did in previous decades, and are willing to jump ship if they find better pay or better prospects elsewhere.
Put money into supporting and training employees
When you help employees learn new skills while on the job, you will get payback in the form of better performing workers who are both more productive and have a higher level of respect for the company. Many young, talented managers have switched jobs specifically because of a lack of training and mentoring from their superiors, according to research by Harvard Business Review.
Let go of the 9-5 mentality
Statistics suggest that companies with more flexible attitudes toward work hours are more successful in both attracting good talent and retaining it. The big majority of adult workers said they’d like their workplaces to offer more schedule flexibility which would allow employees to work from the comfort of their home for half the workweek.
Now that you see the big picture you understand why implement the NWoW: flexibility, accountability, autonomy, are what you need to attract new talents and retain them. The New Way of Working incorporates them all.
Woobe helps in integrating the New Ways Of Working (NWOW), focusing on employee engagement and happiness. Woobe makes organising a campaign of hundreds of micro-events not just possible, but even easy. The HR manager selects in few clicks the profiles and the period over which the events will take place and the invitation are automatically sent to the employees based on their agenda’s availability.
This article has been taken from the original publication from Woobe Blogs