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People are looking for more meaningful relationships, and this does not stop at work. Potential candidates want to understand the purpose behind their role. And employers like you want to hire the best available talent today, who have the potential to grow with your business. How can you make this happen?
People want to understand the purpose behind work. They want meaning and to find fulfilment in the tasks they perform. This quest, often talked about in terms of millennials, has cross-generational appeal and is a priority for all candidates today. As a result, it needs to be the same for companies.
By understanding the purpose behind your company and being able to explain it to an audience outside of your employees, you will be able to hire the best available people. Although not all employers do this, the ones who do will more consistently and efficiently attract the talent they need to grow into the companies they wish to become.
Communication and access to information today is quicker, more widespread and deeper than ever. Instant messaging, social media, in-company networks and review sites have opened worlds of information to everyone. Adapting to this new reality through genuine conversations will bring better candidates to your company, because purpose-driven cultures work.
Key Insight: The search for meaning at work is a key driver for the best available candidates. People communicate differently today. Companies that react to this and speak to candidates and employees with this in mind will prosper over those that do not.
The gig economy, interim contracts and temporary contracts have all grown in importance in recent years for employees and employers. There is also a tacit understanding that a job for life no longer exists nor may even be appealing. Harmonisation of social rights, whatever the relationship to work, needs to happen so both full-time and part-time employees are treated the same.
If universal social protection for all workers regardless of their employment status were to be introduced, this would further protect individuals and facilitate the changes the labour market is going through, providing the flexibility employees and employers want.
This calls for a rethinking of local, national and regional labour laws and social protections. The current legal status focuses too narrowly on permanent, full-time contracts. The statistics back this up: temporary contracts grew by 25% in the EU27 from 2001-12 (permanent contracts by 7%), almost half (43.9%) of employees aged 15 to 24 were working on a temporary contract. And in France, Europe’s second biggest economy, six out of 10 new jobs created qualify as temporary or interim positions.
Key Insight: People are willing to work under many different contracts today, but the social safety net has not adapted to this new reality. Employers can drive this change by valuing all employees independent of their contractual relationship, benefitting both parties by creating the flexible workforce you need to grow.
Salary and a good company name used to be the primary motivators for candidates. And job offers that use these parameters do still attract applicants. However, hiring managers admit that interaction with standard form job offers is falling across all platforms.
In today’s landscape, applicants want to understand the achievements and social commitments of companies. They want to know what causes and issues the company supports. They want to know what it is like to work at a company and understand the purpose behind their mission, to deeply understand company values. Why? Because today, people are more aware of equality between genders and minorities and want to see non-discrimination rules put in place to protect themselves and others.
As long as candidates are pre-selected using available technology, why would they not use the tools at their disposal to pre-select employers? Candidates want to understand what position they will occupy, to understand their tasks in a wider context, allowing them to evaluate their real, actual contribution to the company mission to achieve more fulfilment in work and life.
How can you combat this? By being clear about the question's candidates ask, or at least have the answers they are looking for. Michael Page interviews thousands of candidates every week and understanding what candidates look for drives our business. We can help you look at your company from the perspective of potential applicants and come up with responses to the following questions:
Key Insight: A good offer today involves more than just a high salary and a good company name. It should help to differentiate your company from others, but also give an indication of what working with you will be like.
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Key insights on salaries by sectors and market trends.
