The modern job market is extremely competitive and offers companies a significant advantage when it comes to recruitment. However, at certain levels, companies are at a disadvantage when recruiting, especially at the higher calibre of skill and talent. Traditionally, companies would compete for employees solely on the basis of pay but in the modern world, employees look for more than just the salary. A salary might be sufficient for an employee to consider applying but to secure the role and retain the services of quality staff in the long term, further benefits are expected. This is not to downplay the significance of a competitive salary or a fair wage, as those are still extremely important. This article describes several additional qualifiers that potential employees use to determine whether to work in an organisation.
Opportunity for Collaboration and Social Contact
Employees, especially those on the younger side, prefer to work in groups and collaborate on their projects. This has ensured the popularity of alternative office spaces such as co-working, spec suites, etc. where employees are free to interact with employees in the industry, even from other organisations.
Ethics and Transparency
The world is pushing for more accountability among corporates and enterprises in the consumer level, and it is no surprise that employees in the modern job market expect the same from their employers. Surveys and research have shown that younger employees (Millennials and Gen-Z) prefer to work at organisations with ethical managements. This enhances the trust they place in the company and prevents organisational scandals which destroy public confidence and employee morale. Additionally, certain employees (primarily older Millennials) prefer more open and transparent leadership in the company. This may be due to the numerous corporate scandals, financial crimes etc. that were uncovered in recent times to the detriment of investors and the public.
Inclusivity, Diversity, and Respect
Employees care much more about the wellbeing of their colleagues in the modern age, and many find it important that employees from various backgrounds, identities and orientations are able to work together with mutual respect in an organisation which fosters such a culture. While this is a legal requirement in many places, employees are much keener to work in organisations which take a proactive measure towards inclusivity, diversity, and respect over simply following the law.
Training and Development
Post-employment training and development is an important function in modern human resources management and is one that is considered important by many employees. This allows employees to view a job as a way to improve themselves in addition to the work experience gained. It also benefits the organisations by having their workforce gain additional skills and capabilities which make them eligible for internal promotions.
This is one of the most important aspects and refers to the ability of employees to keep their work and personal lives reasonably separate. Being stuck with work on weekends and days off do not appeal to many people and most prefer organisations where the workload is balanced around such issues.