Candidate Priorities Are Changing
The priorities of job seekers are shifting. In 2024, candidates are becoming less focused on immediate financial compensation and more interested in where their careers can go. The prospect of career progression is now taking precedence over quick rewards.
But what exactly do progression, upskilling, and training opportunities mean in today’s work environment? Often, it involves a mix of factors: developing advanced skills, moving up the corporate ladder, and earning on-the-job certifications.
Why Career Progression is Becoming a Top Priority
Career progression is increasingly important due to changing attitudes among younger workers. Millennials and Gen Z candidates want to see clear pathways for growth in the companies they join. Unlike previous generations, such as Baby Boomers, who often viewed promotions as a nice bonus, younger workers expect companies to actively invest in their professional development.
This focus on career progression is backed by data. Seventy-six percent of younger workers believe continuous learning is essential for their career growth, and half of them are already investing time in online courses to advance their skills.
For this reason, businesses must provide clear career paths. Candidates should be able to visualize a tangible route to the next level. Companies that successfully offer this can expect higher employee engagement and loyalty, reducing the likelihood of job-hopping.
The Role of Upskilling and Continuous Training
Offering continuous upskilling and training opportunities is crucial for companies looking to attract and retain top talent, especially younger employees. Providing these opportunities shows you understand their desire for growth and that you have systems in place to help them advance.
The approach you take depends on your business model. For example, companies with sales teams may benefit from tailored training programs. Service-based businesses might offer professional certifications, while knowledge-based industries could focus on mentoring and leadership development.
Investing in your employees’ skills is invaluable in today’s evolving job market. As technology and automation reshape industries, workers need ongoing training to stay adaptable and relevant.
Beyond Pay: What Candidates Are Really Looking For
So, what do candidates want beyond competitive salaries? Here are some non-monetary factors worth exploring:
- Work-life balance: Gen Z and Millennials are more likely to set firm boundaries between work and personal time compared to Baby Boomers. They don’t want to be bothered by work calls or emails during evenings and weekends or be pressured into unnecessary office attendance.
- Company culture and values: Younger workers want to align with companies that reflect their personal values. For example, firms that hire university graduates might focus on liberalism, environmental sustainability, or social justice. On the other hand, companies in different sectors might find more success by showcasing traditional or conservative values.
- Leadership development opportunities: Younger employees want to see that companies are willing to invest in their leadership potential today, with the aim of developing them for management and executive roles in the future. Firms that commit to long-term employee growth are more likely to attract top-tier talent.
A great example of these principles in action is Zappos. They offer new employees $2,000 to quit if they feel the company isn’t the right fit within the first two weeks. Promotions are based on performance rather than office politics, creating a clear path for growth.
Similarly, Adobe prioritizes attracting talent by offering employees creative freedom while ensuring they have the time they need to spend with their families.
The Benefits to Employers
While offering these benefits may seem costly, it’s often the employers who gain the most in the long run. Investing in employee development can:
- Improve retention: Employees are less likely to leave when they see a clear path for growth and development within the company.
- Boost productivity and innovation: This is particularly important for tech companies, where happier, well-trained employees can drive greater innovation.
- Enhance employer branding: Employees who feel valued are more likely to recommend your company to potential new hires, enhancing your reputation in the talent market.
The long-term cost savings and business growth generated by a well-trained, loyal workforce are significant. Companies that adopt these strategies can improve productivity, performance, and avoid the costly burden of turnover—estimated to exceed £30,000 per employee in the UK.
How Employers Can Adapt to This Shift
How can employers adapt to this shift in candidate priorities? Fortunately, there are several strategies to consider.
First, you can implement career development plans and clear progression pathways. Before candidates even join, outline where their careers can lead and the steps they need to take to get there.
Next, offer ongoing training and upskilling programs. These programs help employees enhance their skills, making them more productive and paving the way for potential salary increases. You can offer internal courses, online learning, or external certifications, depending on what suits your business best—or a combination of these.
Finally, consider setting up mentorship or coaching programs to nurture high-potential employees and help them excel in the long term.
At Manchester Staff, we’re on hand to help you resolve your recruitment issues as quickly as possible. If you’d like to find out more about our expert services, please do not hesitate to get in touch today.
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