Finding top talent is a difficult task in the corporate world, but one that every business wants to succeed with. In fact, beating the competition to find and hold on to the best staff in their respective industry is a major concern for many business owners.
While higher pay and flexible working are a great start, research shows that employees today want to work for ethical businesses, whether that’s brands with a strong DEI initiative, an energy efficiency strategy, or a business that prioritises its values and mission. In order to attract these types of people, companies need to rethink their strategy and build an ethical brand and culture.
Inclusive Company Culture
Studies show that 63% of employees, across all generations, prioritise DEI programmes when it comes to choosing a company to work for, with 73% of Gen Z and 68% of Millennials saying the same. Yet, research by McKinsey on diversity, equity and inclusion in the workplace revealed that it will take 151 years to close the global economic gender gap at all levels, given the current rate of progress.
So, for businesses who want to attract ethically minded employees, making progress and instigating positive change is crucial, from making inclusivity a core part of the onboarding process and keeping recruitment practices equitable to making sure leadership teams are balanced.
For example, MPB proudly state that 46% of their leadership roles are currently held by women, and 143 of their marketing and sponsorship opportunities have focused on ecology, diversity and inclusion. Showcasing the actionable steps you’re taking to be an inclusive employer will go a long way to attracting employees.
Avoid Greenwashing and Take Action
Embracing sustainability as a core business practice makes companies particularly appealing to today’s workforce. And it’s unsurprising, given the focus on the climate crisis for all of us right now.
One in three employees take a company’s environmental performance into account when choosing an employer, because it says so much about what the business values and its part in the industry as a whole. For many workers, it’s a point of pride to be associated with a company that upholds ethical and environmentally friendly standards. Additionally, these organisations often demonstrate a genuine commitment to employee wellbeing.
For companies aiming to attract talent through their sustainability efforts, it’s crucial to have a genuine social mission. Attempting to mislead potential recruits with “greenwashing” can backfire. Once employees join the company, they’ll quickly discern any discrepancies between the company’s claims and reality, which could damage your reputation if they choose to expose any falsehoods.
Provide Career Development
For any business looking to build a stronger reputation and brand, particularly an ethical one, career progression should be a priority. Professionals desire the ability to progress in their careers but also build on their existing knowledge by developing new skills and advancing to higher positions. And this advancement and ability to develop their understanding of the industry is a key factor for many employees.
Career pathways can significantly impact your ability to attract new talent, and improve retention rates, but you need to ensure that those pathways are fair and available to everyone. For example, in many organisations, younger workers are often unfairly labelled as unreliable, inexperienced, or underqualified, leading them to be relegated to lower-level tasks.
Ethical companies approach this differently by prioritising a candidate’s attitude, eagerness to learn, and potential over their existing experience or background. By giving every individual a meaningful chance, companies earn their trust and loyalty, potentially retaining them for the long term.
Promote Work-Life Balance
Work-life balance is a primary factor in choosing a new employer and today’s talent is looking for more than just a competitive salary; they seek a holistic approach to their overall wellbeing. Ethical brands understand that putting the mental and physical wellbeing of their staff first is the way to not only enjoy a happier and healthier workforce, but also one that stays with the business for longer.
Modern employees value employers who support a balanced lifestyle that integrates professional and personal fulfilment. By actively promoting a healthy work-life balance and offering a safe space to discuss issues like mental wellbeing and physical health, your company can align with these expectations and stand out as an employer of choice.
Encouraging flexible work arrangements, providing access to wellness programmes, and fostering an environment where employees can manage their work and personal lives effectively will help attract and retain top talent. These features of your workplace show a genuine commitment to the complete wellbeing of your workforce, making your company a desirable place to work.
Be Clear on Your Purpose
While some may dismiss the quest for meaning and purpose in the workplace as a superficial trend or just another checkbox, it’s becoming increasingly evident that these elements are crucial for the future of work. Employees make career decisions more closely aligned with their personal values today, so to draw top talent, it’s essential to highlight your organisation’s commitment to ethical practices and its active role in driving societal change.
Employees today are looking for more than just a job; they want to be part of something that aligns with their values and contributes positively to the world. Demonstrating a genuine dedication to meaningful causes and showcasing your business’ part in social responsibility can significantly enhance your appeal to prospective employees.
Take a Comprehensive Approach
Building an ethical brand that doesn’t just attract top talent but retains them long-term involves more than just a passing interest in doing the right thing. It requires a comprehensive approach that integrates core values into every aspect of the business. From fostering a culture of diversity and inclusion to observing sustainable practices in business operations, and providing a healthy work-life balance for employees, every element contributes to the overall appeal of your organisation. Authenticity is critical for reducing staff turnover and ensuring that your reputation as an ethical employer stays intact.
