Thoughts on: Work Force & Recruitment
Recruitment of "Talent". Providing training to teams for personal development & co. Nothing wrong with that, but if a company is not branded right, you could argue money is being wasted on recruitment. But wait... Who is branding even for? Customers of course, right. The outside World! Is it though? We challenge you to think otherwise, because equally important stakeholders in an organisation are the employees one can argue. Let's see why this could be the case.
Before we dive into the topic, we asked ChatGPT our AI support.
ChatGPT answer to who are the most important stakeholders in an organisation?
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It's challenging to determine the "most important" stakeholder in an organization as each stakeholder group plays a different role and has its own set of priorities and needs. However, typically, the following stakeholders are considered to be among the most important:
- Customers: They are critical to the success of an organization, as they provide the revenue that allows a company to operate and grow.
- Employees: They are the backbone of an organization and play a key role in delivering products and services to customers.
- Investors: They provide the capital that allows an organization to grow and expand, and they expect a return on their investment.
- Suppliers: They provide the goods and services that a company needs to operate, and they play a key role in the company's supply chain.
Ultimately, the most important stakeholder in an organisation will depend on the specific context and goals of the company. A well-run organization should strive to balance the needs of all its stakeholders and create value for each group.
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A very diplomatic answer from our AI support, however let's add some depth to the points made, especially Point 2 employees and why they might be the most powerful stakeholder after all.
"We need better Talent!"
Many Human Resource Managers would agree on one thing, greater talent or better trained staff would improve the overall workforce in most organisation. Only problem, talent is hard to find and even harder to retain. Meaning the last thing that you want is a high turn-over in positions where talented and trained workforce can make a difference. The workforce currently entering the market 18-25 years old mainly belong to a generation (Gen Z) that has almost unlimited options of finding work - online, offline, in their home country or abroad, employed or freelancing etc.
Beyond that, financial benefits and stability in an ever changing world are no longer priorities for many seeking for employment. There are values that weigh at least as heavy as traditional incentives, such as:
- Flexibility: focus on work-life balance and flexibility, and not to be tied to a traditional 9-5 job.
- Purpose: to make a positive impact and look for careers that align with their values and provide a sense of purpose.
- Mental health: placing a high value on mental health, and some may be wary of the high-pressure, fast-paced work environment that can come with many traditional jobs.
- Technology: they are the most technologically savvy generation and may prefer to work in tech-related fields, or to work remotely.
Bottom line, if organisations want to keep attracting the best of the best and keep them, they need to tell their potential workforce why it is a good idea to join their team in the first place.
#branding has entered the chat
When you talk about why people or organisations do things, what is their purpose and what values they stand for - you talk branding, you talk the things you want to be remembered for! Now more than ever not only customers, but employees are on the look out for companies that align with their values and with whose purpose they do align. Only challenge is that in many organisations values and purpose do not go beyond the list of values that you can find on your introductory brochure - if at all!
So here is the idea - position your company as a place where people want to work. Where people can be part of something bigger, while at the same time fitting in their own vision. Become the place people want to apply for. Clear positioning and action will get you there!
Why? Because most people want to grow their organisation.
- Reduce Recruitment Costs by decreasing staff turnover and a better selection in qualified applicants
- Create natural brand ambassadors (your staff) to spread the word about you
- Increase sales longterm by turning customers into fans
The truth is that most organisations, including your competitors are far from acting upon that concept. So there is certainly time to either act and gain an advantage or sit back and enjoy the status quo. Either way, have a great day week ahead!
