As global markets continue to fluctuate, the great reshuffle will continue, affecting worker migration across industries. LinkedIn's top executive offers some fascinating insights into this global trend.
Ever since the pandemic, the when, where, and why of work has completely changed. The idea of scaling corporate ladders and leading 9 to 5 jobs has become a thing of the past because as the world emerges from the pandemic, we are reassessing our attitudes towards EVERYTHING. Job stability, financial status, on-site working — everything.
“Some say it’s the great resignation, some say, it’s the great attraction,” says Akhilesh Nair, Senior Vice President – Human Resources, Genpact, a leading business process management firm in India. “The net of it is, people have woken up to prioritizing life choices and breaking old moulds of working.”
At LinkedIn, we are calling this shift in attitudes, values and expectations the Great Reshuffle where people are reimagining not just where they work, but also why they work today. Our data shows that this realignment is happening at pace in India.
In the post-COVID era, at least 2 in 5 job candidates in India put ‘company culture’ on top of their wish lists when looking for a new employer. In fact, we observed a 148% spike in engagement levels in India when company posts mentioned ‘culture’, which goes to show that the Indian workforce is actively engaging with LinkedIn content that is centered around company culture in these dynamic times.
Not just this. There are other key factors that are reshaping a company’s culture. Read on to learn about those factors, which will help you shape your strategy to attract, engage and retain talent.
Thinking Employee Happiness? Think Flexible Working
Time and location flexibility are key to happiness at work. Our global data shows employees who are able to work flexibly are 2.5x more likely to be happy at work, and twice as likely to recommend working for an organization.
Indian employers are recognizing this trend, with a 172% increase in job posts mentioning flexibility since 2019, compared to 83% globally. In company posts across India, the rise of mentions about flexibility is up 1112% since 2019, compared to 343% globally.
This is reflected by the relative growth in the share of topics mentioned in LinkedIn member posts from 2019 to 2021, where again India’s trends outpace what we’re seeing globally. Mentions of ‘flexible work’ soared 700% in India (+362% globally), followed by ‘well-being’ (up 70% in India and 35% globally).
“Questions from people are changing from, ‘what’s in it for me?’ to ‘does this fit in with what I want to do and how I want to live?’,” reflects Akhilesh, adding that it matters to organizations as much as talent. “Employers now need to rethink what an employment model means, and how it fits the new paradigm for talent.”
Flexibility at work is prioritized by young talent in India. Generation Z applicants are 206% more engaged with company posts that mention flexibility compared to the global Gen Z engagement of 77%. Meanwhile, 3 in 5 Indian Millennials are engaged with such posts compared to less than 1 in 3 globally.
Interestingly, it’s a factor with less pull among Generation X and Baby Boomers applicants in India who showed 4% and 31% less engagement compared to average company posting respectively.
Bank Balance is Great, but Work-life Balance is Priceless!
LinkedIn data shows workers are three times more likely to be happy and nearly four times more likely to recommend working for a company they feel cares for them. Figures for Indian employers reflect this push, with a 427% increase since 2019 in the number of job posts mentioning well-being, compared to 147% globally.
Akhilesh says employers must take this into consideration if they are to succeed. “Given that work occupies 30% of our lives, employee well-being is a necessity and not a luxury,” he says. “Companies that get this right will be ahead of others in inspiring true commitment and innovation from their employees.”
Simultaneously, candidates are demanding a culture that supports work-life balance. Work-life balance has become more important than ever, with 63% of global professionals making it their top priority, ahead of pay and benefits (60%), and workplace colleagues and culture (40%). Our data shows if employees feel cared for at work, they are 3.7x more likely to be happy at work.
Reimagine Your Company’s Culture
As the Great Reshuffle continues to roll, organizations with the courage to inclusively reimagine and transparently communicate where, when, and how work gets done, will attract the best talent pools.
And talent is not making it easy, with applicants in 2021 viewing nearly twice as many job posts before applying than they did pre-pandemic.
Says Akhilesh: “You cannot be in a war for talent, if you are not in the race.”
“Hiring has become more about speed with high quality… how fast you can reach the talent, give everyone an exceptional experience and have an intense commitment to handhold talent all the way into your company.”
Flexibility, inclusion, and a holistic focus on well-being are some of the key characteristics of a human-centered culture that every company needs to build to ensure employee and business growth. To learn more about how companies can navigate the shifting talent landscape and create a human-centered company culture, read the Global Talent Trends report here.
Ruchee Anand, Senior Director – Talent and Learning Solutions, LinkedIn
Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members