It has always been a challenge to hire, retain and reward the best talent. Even in 2012, the conditions are almost similar. Although the economy is showing a few signs of recovery but it will not be possible for employers to go back to their usual way of operating business. They still have a long way to go to achieve that kind of liberty again but now till then their biggest concern should be to improve and enhance the levels of employee engagement in order to sustain and grow in todayâ€™s highly volatile business environment.
With the beginning of the year 2012, both organisations and individuals continue to be challenged. Since the economy has not recovered to a considerable extent, the organisations will face immense pressure to hold down their operating costs. But on the other hand, they will have to make investment on all possible ways to attract, recruit and retain the best industry talent.
While companies will have to manage their operations ensuring the optimum utilisation of resources, the individuals will need to try to associate them with an organisation where all their monetary and career requirements are fulfilled. Even if they face a slight cut back in their perks and other facilities, they will have to perform their best in order to help top people improve the financial standing of the company.
Over the past few years, both organisations and individuals have faced the aftermaths of economic crisis. Started in 2008, it had its impact on almost everyone in every corner of the world. Even highly productive organisations offering excellent facilities and employees reward programmes had to struggle to maintain their established trends. Even they had to cut back a few things in order to create a balance. In 2012 also, it will continue to challenge the organisations.
Employee Engagement Trends
Usually, there are a few main employee engagement drivers that motivate employees to work harder and perform better. These include quality of life, people such as senior managers, peers, colleagues and subordinates, career and personal development opportunities, company policies and practices, company reputation and total rewards including, pay, additional benefits and perks.
Different employees rank these factors at different levels. This means that for some career opportunities may be the biggest factor of being associated with the company while for some money is the driving factor. Many people want to work for a reputed organisation whereas some prefer a better working environment over anything else. Preferences differ. They depend upon the regions and backgrounds they belong to and of course, their personal thought process and mind setup.
In Asia Pacific region, career opportunities are ranked first. It is followed by brand alignment, recognition, pay and HR practices respectively. In European countries, of course career opportunities rank first but their second preference is good HR practices. These two are followed by brand alignment, pay and recognition respectively.
In North America, again the career opportunities are ranked first by the employees followed by performance management, organisation reputation, brand alignment and then recognition. Overall, people prefer career opportunities over any other thing no matter where companies are operating. Regardless of their backgrounds and regions, this is something that every working professional looks for. Therefore, organisations will have to create excellent opportunities for their employees to make them stay and grow with it.