Organisations must address burn out and prioritise mental health, especially if they want to recruit and retain top talent that has become more selective than ever, and no longer responding to old engagement strategies, revealed a new study.
The latest findings from consultancy Tandym Group found that 64% of employees would like increased access to mental health resources at their company. Yet, interestingly, 41% of employees do not agree that their company promotes a healthy work-life balance.
Research from the report entitled The 2023 Total Talent Guide, Smarter Strategies + Salaries for a New Era of Work, also revealed interesting findings on job seekers and compensation. It found that while it’s critical that companies understand today’s salary landscape, they must be willing to go beyond competitive compensation to successfully engage top talent in today’s unprecedented job market.
TOP TALENT MOTIVATORS
Other findings from the report revealed that job seekers are feeling confident. The majority (91%) of professionals who resigned during the Great Resignation don’t regret it. Furthermore, nearly 30% of professionals plan on leaving their job within the next year.
Compensation remains a top engagement driver, noted the report. In fact,43% of employees do not feel compensated in a way that motivates them to perform their best at work. Additionally, 57% of professionals would consider returning to a former employer for increased salary potential.
Many employees said they lack opportunities for career development. Half (50%) of employees do not see a path for career advancement with their current company. Additionally, many contractors feel left out. Nearly a quarter of contract employees do not feel included in their company’s culture, according to the report.
TALENT IN SHORT SUPPLY DESPITE LOUD LAYOFFS
“Heading into 2023, the job market is sending mixed signals. Loud layoffs are making headlines, but many industries are eager to hire; and cannot secure the talent they need fast enough,” stated Dave Muller, Executive Vice President of Tandym Group’s technology vertical. “Though market shifts will persist, the hiring environment will continue to be competitive for employers. Talent has become more selective than ever, and are no longer responding to old engagement strategies. We hope the information presented in this guide helps our partners future-proof their talent strategy.”
The 2023 Total Talent Guide reveals how employers can level up compensation, benefit offerings, and company culture to win over talent in a new era of work. The full report can be accessed here.
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