The job market has changed over the last five to ten years. There are now a total of thirteen million new jobs. Taken this in to consideration this figure and why it matters, it shows where the job market currently is verses what it was a few years ago.
One of the changes that have come as a result of this is that the balance of power has shifted from employers to employees. Employees now have more to leverage on their side. A recent poll of HR professionals that was done by Deloitte showed that the number one focus of companies is retention. Keeping employees happy and giving them a sense of stability within a company.
How companies accomplish this is done in various ways. Salary was first on the list followed by flexibility. In order for companies to keep their employees a growing list of benefits are being offered in an effort to retain them. Technology industries and those who are aware of the shift provide tablets, laptops as well as desktop computers that allow people to work outside of the office. Companies even offer extended parental leave as one of the perks.
While many of these major perks such as paid benefits and the latest technology are reserved for larger companies that can afford them, smaller companies can also compete by offering something that is equally as valuable.
Employee engagement is something that every company can afford. According to a Gallup poll, only a third of employees are engaged with their company meaning that they trust that the company is going to appreciate their work effort, help them to advance and provide tools and set goals to help them succeed.
Two-way loyalty can be built and it can provide longevity for the employee as well as reduced turnover within a company. Employee engagement is the way to make this happen – and this is the latest trend occurring throughout companies.
Effective communication between and employer and employee can foster growth and ultimately can contribute to the overall success of both parties. Empowering individuals to work more effectively builds trust and loyalty and in the end can go a long way and net great results.