To be an "Employer of Choice" in the new economy, we must understand that the talent landscape has evolved dramatically, as has the workforce. With Millennials making up nearly half the workforce, they set the tone for employee engagement for the foreseeable future.
Millennials' expectations--for diversity, transparency, collaborative work cultures, fluid organizational structures, flexible work and positive social atmospheres--are challenging most companies' workplace norms.
To stay competitive, companies must understand the changing talent landscape and adopt new methods for attracting and engaging employees. Here are the top three strategies to becoming and staying an Employer of Choice:
Define your Employer Value Proposition. In simple terms, an EVP is the value employees receive in exchange for their spending 8+ hours per day working for an employer. A good EVP tells a clear and compelling story about what is expected of employees and what they can expect in return.
Having an EVP is critical to staying competitive in today's labor market because it forces an employer to differentiate itself and to define this message to the types of workers who would be a good fit. Millennials, in particular, need to understand and agree with an EVP to be convinced to work for a company.
Invest in career pathing & development. Millennials expect their employers to provide them with structured information and guidance about their careers from the very start. This means providing:
* Visual career paths that show how employees can progress in an organization and what it takes to achieve certain roles and levels.
* Career development plans for individuals...