Employees who innovate or help other innovators build the next “world-changing” companies should be offered a fair stake in the companies’ success. After the Cornoavirus lockdown is over, will companies who merely pay an hourly wage be major players in the future?
Employees have little to no attachment to hourly paid jobs and a staggering 50% of them will leave within the first four months.
Employees of the future will need to be properly incentivized and rewarded based on their efforts and contributions which come in many different sizes.
The C suite taking all the fame and fortune for other’s accomplishments won’t be as acceptable by the workforce and will be seen as less than desirable to work for.
A humanity minus company is a company that is focused primarily on profits regardless of the impact on humanity and the environment. They may not value their employees and are not concerned with healthy practices and the employee experience.
They may use harmful substances and fillers in their products that harm our bodies and environment.
Extraordinary minds want to be part of extraordinary companies where extraordinary things are happening. People go where they are valued and where they feel their individual contributions make a difference.
In other words, people are looking for meaningful work and may turn down a higher paying job for one where they feel called to a higher mission and purpose.
Any size company that is not concerned with the employee experience and doesn’t invest in their people programs, will continue to burn and churn employees. They will have a hard time scaling their company and making it into the future.
Precious time is spent replacing employees, while the costs associated with corporate revolving doors are high. It costs approximately one-third of an employee’s salary to replace them.
Corporate culture and reputation are easily discovered by job seekers. It’s all too easy for them to look on sites like “Glassdoor” to see what it’s really like to work for your company.
Often corporate career pages don’t reveal what the true corporate culture is like. They have not been developed and merely list compensation and health benefits.
Employees of the future are looking for companies that
1. Have a clear social mission (humanity plus)
2. Operate from core defined values
3. Celebrate diversity & inclusion
4. Have elaborate people programs
5. Recognize and reward beyond an hourly wage
Top-notch talent is the difference between profit or loss, how do you plan on attracting, training, and maintaining the innovators of the future for the highest possible outcome?