According to LinkedIn’s 2016 Global Talent Trends report, over two in five people see themselves staying in their current role for less than two years. This could potentially pose problems to organisations that require skilled members of staff to see projects through in the long term.
In ‘The future of jobs’, the Recruitment and Employment Confederation (REC) said UK employers “need to act now to improve the way they source, engage and nurture their workforce if they are to avoid rising skills shortages and further declines in productivity and competitiveness” in the coming years.
It is therefore vital for businesses to think about retention right from the beginning of the recruitment process. Bringing the right people on board can help your business future-proof itself.
So what can you do to make sure you’re keeping retention in mind when you start hiring?
Hire for attitude
LinkedIn advises hiring managers to recruit “those who are more likely to stay by looking for candidates who are motivated by purpose rather than status or money”. The company’s Talent Trends report found that of those people who said they were likely to stay in their roles for more than three years, 39 per cent were purpose-orientated, compared to 35 per cent who were not.
Meanwhile, 73 per cent of workers satisfied in their roles were purpose-driven, while 64 per cent were not. If a business wants to keep their employees happy at work, it makes sense to bring on board people who are motivated by purpose.
LinkedIn said that for businesses to apply these trends to their recruitment, they should be open and specific about culture, values and careers. The company advised businesses to “empower employees to create content about your company’s culture and values, and what their typical day looks like”.
Inc.com echoes this sentiment, encouraging businesses to fill their sites and social media with regularly updated content about what life is like at the company since it “helps candidates decide if they align with your mission and personality and whether they see themselves being happy with you for the long haul”.
Benefits outside retention
In addition, workers with more purpose are likely to see better results. LinkedIn’s 2016 Purpose at Work report said: “companies are seeing that purpose-oriented employees are more productive and successful”. It therefore pays for businesses to recruit with this in mind.
The report found that as economies evolve, recruiting purpose-driven talent will become “a competitive differentiator”. The authors stated: “Companies of all sizes and industries are realising the power of inspiring employees with a strong social mission, and creating an environment that fosters purpose.”
Meanwhile, research by EY Beacon Institute and Harvard Business Review Analytic Services found that 89 per cent of executives surveyed said a strong sense of collective purpose drives employee satisfaction, while 84 per cent said it can affect an organisation’s ability to transform, and 80 per cent said it helps increase customer loyalty.
It therefore stands to reason that if businesses are hiring to retain, bringing people with a strong sense of purpose on board will deliver additional benefits.
Posted by Jon Aspinell on 24th October 2017
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