Fortune magazine recently published a great article: The 21st Century: What You Need to Know. In the article Geoff Colvin outlines how every aspect of doing business this century is about to change. With employee relations he sees three major trends emerging that will drive talent management strategies moving forward.
In the Fortune article the New Rules of Employee Relations were listed as:
1. Be Transparent To Engage Your Employees
Communicate consistently about what’s going on at your company and mechanisms for getting real feedback – especially for millennials
In our new information age economy transparency will be critical for any organization looking to engage their employees. Information can no longer be in silos or kept secret. You can no longer expect that the “keep quiet – keep you head down – do your work and good things will happen” management approach will work. Employees want to know where their company is headed, why are they doing what they are doing and how it all impacts them.
2. Create Career Paths
Turnover is one of the greatest threats to growth. Provide your employees with opportunities to learn. If you do it right, your top performers won’t be so quick to leave.
It is now well noted by a number of major studies that one of the top retention tools is providing career opportunities for your employees. Showing them ways that they can personally grow and develop their skill sets so them that their investment in the organization is being returned in kind by the organization spending time and money help them grow. This does not necessarily mean just promotions. Training in new skills, job rotations and new projects all can accomplish the same goal.
3. Culture Matters
Align around a set of core values and a shared vision that get everyone focused on the same mission. And remember that happy employees make happy customers.
21st century employees want to believe in their organizations – their corporate vision, how their products and service impact others and what impact their company has on the community. It is no longer enough that they are employed to simply earn a paycheck and go home. There is a desire for more meaning. Smart organizations will recognize this and build cultures around it.
The 21st century is going to be a very exciting time. The pace of change is accelerating and new rules are being written daily. Smart talent management strategies built around these new rules for transparency, career growth and culture will help organizations best position themselves for the road ahead.