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Worthy organisations and employers of choice
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Many employers in Nigeria have recognised that the rules for finding and keeping top performers have changed. Fierce business competition and equally fierce competition for top talent seem to have combined to create a situation in which good people have become more mobile than ever. Indeed, it seems to have become standard operating procedure for many workers to keep their resumes permanently updated and in circulation.
Not surprisingly, this means that the people most likely to leave their jobs are those who can most easily find jobs elsewhere. Unfortunately for those whose business may be amongst those struggling to meet intensifying competitive challenges, it also means that the people necessary for their future success are the most talented managers, knowledge workers and revenue producers - and the ones most likely to walk off.
Clearly, we are no longer competing for just a larger share of the market – now we are competing for talent. As in the more developed economies, Nigeria is beginning to witness the development of a ‘market for talent’ in which the best people seem to have the upper hand and are exercising their right to choose the workplace in which they will deploy their talent. To be worthy of that choice, businesses have discovered that they must now offer much more than just good pay.
Talented workers are insisting on ‘a good place to work.’ Typically, this involves more than just good pay and benefits; it also means a place that provides a welcoming work environment, creates opportunities for professional development and advancement, treats employees with respect and dignity, and enables them to feel valued, both as contributors to the organisation’s success and as human beings.
During executive search engagements, Human Edge consultants often report that given a choice of comparably remunerated positions, an increasing number of high potential people are indicating a preference for organisations that offer the greatest opportunity to grow, develop, and do their best work. Obviously, this trend must be kept in perspective. A business that is foundering or heading towards bankruptcy will certainly have a difficult time competing for talent, no matter how wonderful its internal culture may be.
Nevertheless, we subscribe to the view that the long – term success of any organization is heavily dependent on its ability to recruit and retain the best talent, and enable its people to develop and perform to their highest potential.
The term ‘employer of choice’ is used to describe a company whose status and reputation as a great place to work, makes it the first choice of top class people. There is evidence to suggest that organisations that are able to attain this status enjoy certain advantages; there is a growing recognition that in order to compete for market share, an organisation must first compete for talent share i.e. the most talented future leaders, knowledge workers and producers who will enable the organisation to remain competitive. A decision to become an employer of choice is therefore a strategic commitment.
In general, it seems logical to assume that the greater the public awareness of an organisation’s reputation as an employer of choice, the greater the pool of talent it will attract and have to draw upon.
Successful implementation of an employer of choice strategy should help to make the search for top talent more of a selection process. The increased quality, value or performance of better people combined with expected savings on recruitment costs should, in turn, more than repay any costs associated with the process of becoming and remaining an employer of choice.
Some key issues
For reasons similar to those identified above, an increasing number of organisations around the country are choosing to identify with the employer of choice strategy. Unfortunately, as with so many deceptively simple concepts, it is not quite so easy to convert theory into practice. We believe there are a number of reasons for this.
First, becoming an employer of choice requires employers to see their people as valuable assets, to invest in them as assets that can appreciate in value, and to treat them as human beings who have a range of personal and professional needs and preferences and who really do have the option of walking out of the door if those needs and preferences are not satisfied.
Second, there are two elements involved in becoming an employer of choice: being worthy and being known.
As we have already seen, being a worthy organisation requires policies and practices that support people in doing their best work and developing to their fullest potential, both professionally and personally. However, it is also important for organisations to be known and recognized as leaders in the creation of environments that enable people to succeed and to develop behaviours and skills that will position them for greater success in the future.
It seems likely that to be well known, but not particularly worthy might create a discrepancy between people’s expectations or experiences that could ultimately lead to the loss of high performers whose expectations are not being met. On the other hand, to be worthy but not particularly well known would also be largely ineffective as it would result in the organization’s failure to leverage a critical success factor i.e. having the best people. We believe both of these elements are necessary to create the pull that will draw the most desirable people to the organisation. Neither is sufficient.
Not surprisingly, this means that the people most likely to leave their jobs are those who can most easily find jobs elsewhere. Unfortunately for those whose business may be amongst those struggling to meet intensifying competitive challenges, it also means that the people necessary for their future success are the most talented managers, knowledge workers and revenue producers - and the ones most likely to walk off.
Clearly, we are no longer competing for just a larger share of the market – now we are competing for talent. As in the more developed economies, Nigeria is beginning to witness the development of a ‘market for talent’ in which the best people seem to have the upper hand and are exercising their right to choose the workplace in which they will deploy their talent. To be worthy of that choice, businesses have discovered that they must now offer much more than just good pay.
Talented workers are insisting on ‘a good place to work.’ Typically, this involves more than just good pay and benefits; it also means a place that provides a welcoming work environment, creates opportunities for professional development and advancement, treats employees with respect and dignity, and enables them to feel valued, both as contributors to the organisation’s success and as human beings.
During executive search engagements, Human Edge consultants often report that given a choice of comparably remunerated positions, an increasing number of high potential people are indicating a preference for organisations that offer the greatest opportunity to grow, develop, and do their best work. Obviously, this trend must be kept in perspective. A business that is foundering or heading towards bankruptcy will certainly have a difficult time competing for talent, no matter how wonderful its internal culture may be.
Nevertheless, we subscribe to the view that the long – term success of any organization is heavily dependent on its ability to recruit and retain the best talent, and enable its people to develop and perform to their highest potential.
The term ‘employer of choice’ is used to describe a company whose status and reputation as a great place to work, makes it the first choice of top class people. There is evidence to suggest that organisations that are able to attain this status enjoy certain advantages; there is a growing recognition that in order to compete for market share, an organisation must first compete for talent share i.e. the most talented future leaders, knowledge workers and producers who will enable the organisation to remain competitive. A decision to become an employer of choice is therefore a strategic commitment.
In general, it seems logical to assume that the greater the public awareness of an organisation’s reputation as an employer of choice, the greater the pool of talent it will attract and have to draw upon.
Successful implementation of an employer of choice strategy should help to make the search for top talent more of a selection process. The increased quality, value or performance of better people combined with expected savings on recruitment costs should, in turn, more than repay any costs associated with the process of becoming and remaining an employer of choice.
Some key issues
For reasons similar to those identified above, an increasing number of organisations around the country are choosing to identify with the employer of choice strategy. Unfortunately, as with so many deceptively simple concepts, it is not quite so easy to convert theory into practice. We believe there are a number of reasons for this.
First, becoming an employer of choice requires employers to see their people as valuable assets, to invest in them as assets that can appreciate in value, and to treat them as human beings who have a range of personal and professional needs and preferences and who really do have the option of walking out of the door if those needs and preferences are not satisfied.
Second, there are two elements involved in becoming an employer of choice: being worthy and being known.
As we have already seen, being a worthy organisation requires policies and practices that support people in doing their best work and developing to their fullest potential, both professionally and personally. However, it is also important for organisations to be known and recognized as leaders in the creation of environments that enable people to succeed and to develop behaviours and skills that will position them for greater success in the future.
It seems likely that to be well known, but not particularly worthy might create a discrepancy between people’s expectations or experiences that could ultimately lead to the loss of high performers whose expectations are not being met. On the other hand, to be worthy but not particularly well known would also be largely ineffective as it would result in the organization’s failure to leverage a critical success factor i.e. having the best people. We believe both of these elements are necessary to create the pull that will draw the most desirable people to the organisation. Neither is sufficient.
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