2 Things That Turn Business Into A "Talent Magnet"
June 16, 2022
Spanning between 20 and nearly 30 years old, millennials and Gen Z employees are sharing the core workload of business. To retain these two groups of employees, businesses need to prepare themselves and become a “talent magnet”.
How Millennials and Generation Z think about the workplace
According to CNBC, Millennials and Gen Z will become the main workforce in the next decade. The differences between these two generations have brought leaders certain worries about the possible conflicts happening when employees’ wishes cannot be reconciled.
“Different generations will have different demands when it comes to working. For that reason, it is necessary to personalize employee experience with different programs and strategies for each generation. However, before that, businesses can begin with an HR management strategy that goes both ways, starting with building a healthy working environment and a strong corporate culture. Regardless of their generation, employees also have things in common such as the desire for a professional environment, a cohesive culture, and attractive benefits” – Ms. Nguyễn Thị An Hà, Head of Marketing and Strategic Partnership of Talentnet Corporation advised.
Leaders can improve employee attraction and retention by building strategies as following options:
2 fixed rules that still apply to any businesses amid total transformation
Although these two workforces may seem to be drastically different from each other, yet they shared various commons. Business leaders can apply the two strategies below to improve employer branding, better attract and retain talents.
Building a flexible working environment
Employees dedicate at least 8 hours a day to their work, therefore, they also want to be recognized and empowered by the businesses. The rise of “hybrid working” partly confirms that desire. The criteria for assessing employee capacity and working attitude should not only be based on the time they spent at the workplace but also on the quality, job management, etc.
“In a recent report of Mercer, 51% said that work needs to be adjusted so that employees can spend more time with their family, take care of their health and other hobbies. It can be seen that employees are demanding flexibility not only in the workplace but also in work hours, and policies to reach their best performance.” – according to Ms. An Hà.
The greater employer branding is, the prouder employees are
Facing the crisis of employee mass resignation, businesses need to actively build their brand name. What are the values employees care about, what are the activities that bring business and employees together, etc. are questions that need to be asked to retain employees. Businesses can also consider participating in prestigious HR awards to create impression and reputation within the HR community. The current outstanding HR awards in Vietnam that can be taken into consideration is Vietnam HR Awards – the award that is described as “Oscars for HR” with transparent grading criteria from the Singapore Human Resource Institute (SHRI) with the 6 most up-to-date categories, focus on the new human capital solutions. This prestigious award is hosted by Talentnet with the endorsement of the Newspaper of Labor and Social Affairs– the mouthpiece of the Ministry of Labor – Invalids and Social Affairs (MOLISA). By receiving the recognition from Vietnam HR Awards, businesses not only increase the trust among employees but also their reputation towards numerous media platforms.
Millennials and Gen Z will be the key resources for at least another decade. Building a flexible working environment and maintaining good brand communication are two important things that businesses need to remember in order to unlock the hearts of these two generations and success on the journey to achieve long-term business goals.
Source: Brands Vietnam