As the business world continues to evolve, prospective employees have more power than ever when choosing their next place of work. It has therefore become necessary for organizations to separate themselves from the crowd and appeal to the best talent.
Traditional work models and means of doing business are shifting rapidly. In the wake of such change, employees across all sectors have reviewed their work-life balance and sought new opportunities that align with their values and professional development.
This period, commonly referred to as “The Great Resignation”, has seen businesses lose vital talent and struggle to bolster their workforce. The tables have turned; organizations are now required to market themselves as attractive places to work so applicants will select them from a sea of lucrative possibilities.
One way for businesses to stand out from the crowd is to become a “magnetic workplace”. According to a recent report by Economist Impact, supported by Kyocera, unlocking the benefits of a magnetic workplace is the key to retaining and attracting world-class talent for businesses wishing to future-proof their operations.
Magnetic workplaces attract people and encourage employees to produce their best work and fulfil their potential. This type of environment should be thought of not as a space where individuals feel a sense of obligation, but belonging. In short, employees want to be there. They don’t feel forced.
By increasing their workplace’s magnetism, organizations can boost employee retention and appeal to world-class talent. To harness the potential of the magnetic workplace, business leaders need to take three key pillars into account:
In magnetic workplaces employees want to be there. They don’t feel forced.”
The productivity and infrastructure pillar boils down to providing your workforce with the necessary technology to facilitate their productivity. To do so, business leaders should audit their existing software and devices and ensure that they have equipped their teams with the right tools to optimise their workflows. It will also help eliminate the frustration caused by inefficient technology and out-of-date programs.
As hybrid working has accelerated digital transformation and the shift to paperless processes, managers need to ensure that their approach to security has also developed. With more employees working remotely and connecting to shared networks, optimum productivity will be best achieved with compact devices suitable for home offices, as well as solutions that fortify the security of a wider network.
However, technology alone isn’t enough to inspire people. The second pillar of a magnetic workplace, employee engagement, is driven by people-centric policies. Empowering your team with flexible working arrangements and providing the platforms for them to enhance their skills will greatly increase job satisfaction. According to the report, 88% of employees would be drawn to a workplace that provides technology that allows them to learn new skills. The case is clear: investing in people can pay huge dividends.
The final pillar of a magnetic workplace is culture. While qualitative results and profit are the driving force behind a business’s success, its culture is a key element of sustainable success.
If an employee feels aligned with their organisation’s values and enjoys a strong work-life balance, they will feel a sense of belonging and loyalty toward the organisation. However, if employees feel disillusioned by their organisation’s lack of Corporate Social Responsibility (CSR) or commitment to diversity and inclusion, they may be lured by the prospect of greener grass elsewhere.
Whether an organisation is big on sustainability, social initiatives, or efforts to ensure a positive work-life balance for employees, these efforts can be the deciding factor for a prospective employee weighing up competing efforts.
Rome wasn’t built in a day, and constructing the pillars of a magnetic workplace is a long-term commitment. While it may take time to see tangible results, investing in employee satisfaction and happiness is a clear-cut way to inspire your in-house talent and motivate the most experienced and competent applicants to join your team. These core pillars are a clear roadmap that businesses can use as they set out to become a magnetic workplace and increase their competitiveness.
If you’d like to learn more about this Economist Impact report and discover how Kyocera’s solutions can facilitate this process, you can head to our homepage.