Adapting to Changes in the Workforce is Crucial to Small Businesses
2023-11-05 – BE&O AC
When it comes to attracting and retaining young talent, the workforce landscape is changing rapidly, and as workers’ demands shift, your company needs to adapt to those changes.
Trevor Bogan, the Regional Director for the Top Employer Institute, says the expectations of employees in the workforce are what’s changing the most. Whereas before a one-size-fits-all approach may have appeased your workforce, Bogan says, “You have to understand now that everyone is different.” Workers today value different things and define success differently. More importantly, understanding what motivates employees is crucial for any business owner looking to recruit and retain talent.
One of the best ways to appeal to the ever-changing workforce is to live by your purpose. From looking after your employees’ well-being to committing to sustainability efforts, Bogan says today’s workforce is looking for action, not just words, from employers.
But appealing to today’s workforce isn’t all about work-from-home days and casual Fridays. Employees also want to work for an organization that invests in skill development programs for its staff. This includes continuous training and education seminars and conventions. If an employee can see their skill sets growing with regular training and development, they are more likely to stay put.
Along with these efforts, Bogan also says open communication is one of the best ways to retain Millennial and Gen-X employees. An employee wants to know what they are doing right and what they are doing wrong.
Bogan says, “HR learns from data.” The data shows the more you talk to your staff and understand what motivates them, the more likely you are to retain them. Ultimately, taking care of your employees increases productivity.