How to stand out as an inclusive company during the great reshuffle
According to the latest data, the "great reshuffle" is amongst us. Research by Morgan McKinley shows 84% of workers are considering a career move, and 71% said they'd consider quitting if a company didn't offer flexible working.
Millions of people are expected to look for their next step - role and career path. Long gone are the days when loyalty pays; today - it's a matter of how to ensure there's enough food on your table. Robert Walters has highlighted that staff shortage in the UK means some professionals are commanding pay rises of 20% when moving roles, with local news sites reporting starting salaries from £150,000.
The "great reshuffle" among UK workers has continued to grow as people take advantage of the candidates' market and switch roles.
This is the time to stand out as an employer, a business and an organisation.
How to stand out as an inclusive company during the great reshuffle
Have honest internal conversations and ask your teams what they want
There's a high chance that your team member is looking elsewhere because they do not feel like they belong or are treated fairly within the firm. Within organisations offering pay rises of 20% or more - there's no doubt that the 500 jobs posted per minute on job sites are increasing their click rates. If someone leaves your business for another - that's a 1.5x salary cost to your firm. Why take that risk? Ask your people what they think, and want and plan to see if you can meet in the middle. This could be a transfer of tasks, enabling new initiatives or clear guides to set them up for future success. Today's workers may not be the most loyal, but they are willing to be if businesses ensure training, development and equitable pay rises. Otherwise, you'd lose your talent to another and spend months looking to replace someone who could have been invaluable.
If looking for new talent, partner with communities who are doing the work
We at LMF Network are passionate about ensuring people are leading in their confidence and capabilities and building careers to last a lifetime. Trust me, we are not alone. More and more communities are being born because the current system isn't working. People need support catered to their diverse needs, from alternative educational backgrounds to lack direct skills or experience. Their differences don't make them any less, but a value add. It's boring to have the same or similar business (remember, value add > culture fit).
LMF Network (2021) found that often women are hesitant to apply for roles due to little understanding of the role, skills required or plans. With this information not clear, the gap in the market is widening, and fewer people want to work with large or traditional recruitment firms (who often need the support themselves). Additionally, from our best-in-the-class mentoring programme, we know that more than 80% of those on the scheme are more likely to apply for a role if the mentor, mentee or partner's company are advertising than an agency or firm externally.
Go beyond your usual route to find extraordinary people for your business. Work with communities to build plans, facilitate educational workshops, design onboarding strategies, clarify hiring goals and create fun talent initiatives such as speed interviews. This is a better and, in most cases, cheaper option.
Invest in diversity and inclusion partners who are equitable and experienced in building strategies
If you are serious about creating change and ensuring long-term careers, you must work with DE&I partners who are experts in their work rather than the cheaper or flashier option. This isn't throwing shade at anyone, but as someone who's built an organisation and effectively helped businesses make strategies that work, I am well aware of the competition and the new wave of professionals who cite their experience without receipts.
Businesses must consider DE&I strategies, plans and departments as core parts of the organisational structure and, therefore, secure money to invest in the support rather than a nice to have. If the world's future becomes more equitable, accessible and inclusive - if you are losing talent because you aren't adapting to their ways of life and requirements as people first - then you will find yourself stuck and in a deeper hole than where you started. We need to build a programme of education, discovery and awareness before we lean into strategy, change and structure. Let's start by ensuring everyone is on the same level and, therefore, equitable foundations. Lessen the comparison and introduce the benchmarks. Understand your data; dive into the gaps; commission experts to help with the following steps; build strategies; convince C-suite; adapt to the new ways of life; build this into your company playbook and shout about your work - and carry on doing it.
Final thoughts
The significant reshuffle is the great reset. This period will re-imagine what the future of work looks like. Is it 4-day working weeks - hybrid working styles or diversity of skillset? Whatever it may be, your company needs to be ready to innovate, explore and flow out of its comfort zone. From my perspective, the significant reshuffle will show us the companies who are serious about their people and inclusion and those who are there for the money. There's nothing wrong with that; businesses need to make profits to stay afloat - but if the needs change, then it's not just money that will rule the world.