Not long ago, E&Y released a report titled "Differentiating for Success, Securing top talent in the BRICs", detailing attitudes towards work and establishing the ideal employer value proposition for BRIC-based (Brazil, Russia, India, and China) companies. Though the findings focused on the BRIC countries, the lessons for companies in other countries worldwide are obvious—especially when we look at the similarities across all countries.
No matter where the respondents were, they were all looking for a high-energy, comfortable environment, where they could collaborate to get the work done. What this means for employers is that emphasising these aspects of the job will attract the young talent they are looking for.
E&Y also offered five strategies for securing top talent. We will explain each briefly:
"Strategy 1: Accommodate different career goals across countries and professions." Career pathing is very important to workers, particularly young ones, across the globe. People want to see how they will be able to grow in their careers by working with your organisation.
"Strategy 2: Build a differentiated employer brand by country and profession, internally and externally". Because cultures vary, it is critical to keep those differences in mind, when you are building internal and external employer brands.
"Strategy 3: Develop the behavioral styles of co-workers and leaders to enhance engagement." Each of us has particular learning and work styles. When individuals are developed in keeping with those styles, everybody wins. People are more productive and engaged, because they are doing the right work for them.
"Strategy 4: Craft work environments to match country preferences." Preferred work environments are also different within diverse cultures, e.g., ergonomic design is more important in Brazil than it is in other countries. Focus on what is most important to the workers and you will have success in attracting them.
"Strategy 5: Tailor compensation and benefits to individual and cultural differences." For a long time now, we have advocated a cafeteria-style approach to benefits. Allowing people to choose the specific benefits they want eliminates waste and produces a more highly engaged workforce.
Wise employers will take this advice to heart. As labour markets tighten, advice like these strategies will become vital for attracting top talent.
To read the entire report, visit http://www.ey.com/Publication/vwLUAssets/EY-Securing-top-talent-in-the-BRICs/$FILE/EY-Securing-top-talent-in-the-BRICs.pdf
From "The Herman Trend Alert," by Joyce Gioia, Strategic Business Futurist. 336-210-3547 or http://www.hermangroup.com. The Herman Trend Alert is a trademark of The Herman Group, Inc."