A few clicks and glances through today’s news channels of economic forecasts, political power structures and technological revolutions and it becomes unmistakably evident that the future is uncertain. These rapidly changing and unpredictable movements across various global settings have triggered measurable increases in employee angst in 2017. Today, more than ever, employees are increasingly looking to their employers for improved opportunities and increased development to thrive in this uncertainty. To keep up, and more preferably, thrive in these changing times, CEO’s and HR leaders are being compelled to change how they approach attracting and retaining their people.
Shifting the mindset around employee experiences
Rewards and recognition, EVP and career opportunities have traditionally been seen as the most impactful drivers to improve employee engagement; however, satisfaction with these elements is decreasing across the board. Through Aon’s Best Employers program, we’ve observed an emerging trend that employees today are looking beyond the traditional and functional aspects of a job (e.g. rewards, development and onboarding) towards a more individualized working environment.
Aon Best Employers are keeping ahead of the game by offering a holistic work experience that emphasizes non-monetary recognition, creative development opportunities and tailored company benefits.
Quick Wins from Aon Best Employers
Although the reality of renegotiating an entrenched system can feel overwhelming, here are some simple, but high impact techniques to help you give life to a more individualized working environment:
Not everyone is excited by the same benefits. Many organizations still apply a one-size-fits-all approach to employee benefits, which misses the opportunity to leverage the right benefits to attract and, more importantly, retain the right talent. Aon Best Employers offer a combination of universal benefits (i.e. to all employees across the organization) in conjunction with tailored benefits to different individual employees. For example, one organization we work with offers free eye examinations to everyone while making flexible hours available to those who need it.
Consider generational differences: With five generations soon to be in the workforce at the same time – there isn’t a sweeping approach that will cater to all individuals. Millennials, for example, tend to crave original, varied experiences. Moving them around a business might be imperative to their retention. Team leaders may have to be prepared to send top talent to another team if they are to retain that talent for the company as a whole. Best Employers consider these differences, with 85% of employees believing there is an effective process to help them identify their personal development needs compared with only 55% of employees at other organizations.
Clarity goes a long way. Organizations don’t need to pay above market or hand out large bonuses to have highly satisfied employees. Instead, Aon Best Employers focus on setting the right expectations around pay and career progression. This can be done across various channels, including consistent salary progression plans, manager conversations centered on career development and transparency about pay and bonuses.
Your talent know their needs better than you do. Aon Best Employers base their benefits on what their staff tells them they want, rather than on assumptions about their staffs’ interests. Best Employers do not necessarily have a bigger benefits budget, but they do invest adequate time in ensuring they spend money on benefits their employees’ value. And this is not a one-time exercise – whether we are talking about benefits, career aspirations or what motivates employees - it’s important that managers have frequent conversations with their team members to understand their requirements and expectations throughout the employee lifecycle.
About the Aon Best Employers program
Established in 2009, the Aon Middle East Best Employers program offers a unique opportunity for your organization to demonstrate an ongoing commitment to your people. The program has been designed to benefit all participating organizations regardless of where your engagement levels currently sit by:
- Allowing you to benchmark against the Best
- Identifying the strengths and weaknesses in your people practices
- Providing action oriented consultation to help you improve engagement.
The Aon Best Employers program is both accessible and beneficial to all organizations. As the region’s most credible employer research program, Aon Best Employers provides the platform you need to prioritize your most important asset – your people.
Start a conversation with us
Contact us to find out how participation can help your company get ahead.