Recruitment and retention: major challenges for businesses
Recruiting talents is a key concern for organizations. According to the Canadian Federation of Independent Business (CFIB), 75% of companies suffer from a lack of candidates in their region.
Retention also poses a major challenge. A Gallup poll estimates 80% of the Canadian workforce is disengaged. Disengagement has insidious effects on businesses, including lower productivity and higher employee turnover.
What are talents looking for?
Talents look for several things when applying for a position:
- Appreciation of their work
- Good relations with coworkers
- Healthy work-life balance
- Good relations with their manager
The massive arrival of millennials on the labor market also impacts the structure of organizations. This generation grew up with social media and expects to find a similar form of interaction in their work environment – a horizontal structure organized into networks.
Being an attractive organization is a must!
Corporate attractiveness depends in large part on company values. Developing a motivating culture built around shared values is a must and leads to greater engagement. “Highly engaged employees have a positive impact on clientele perception, sales, and profitability. A good corporate culture is good for business.”
Changing a corporate culture is a long process that should be tackled in several stages.
First, take stock of every aspect of your organizational culture.
Once you have assessed the situation, take a moment to ask yourself what values you would like to foster:
- What kind of culture would you like people to experience?
- What elements would you like to use to build your model?
Your corporate culture and engagement will emerge and develop based on the key ingredients you inject and how they are experienced in your organization through interaction, practices, and supporting structures.
For example, pride in client success, innovation and commitment are part of ISAAC values. A forum, the « Wall of Values », was set up on a web platform to promote these principles. Colleagues who want to underline their peers’ successful initiatives in line with the identified values, can do so by publishing acknowledgment messages on the forum.
People aspire to work for a company that shares the values with which they identify, and culture is the main medium through which they are conveyed. For practical tips on assessing and adapting your corporate culture, watch our webinar presented by Josiane Lorange, ISAAC’s Vice President of Culture, Development, and Engagement.