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A new mindset - how to motivate your workforce and attract new talent

on Tuesday, 31 October 2023.

The recruitment and retention of the right talent is vital for companies. It is also becoming more difficult.

COVID brought with it a shift in employee mindset when it comes to considering motivations for staying or leaving their current workplace.

How employers adapt to this can dictate the success they have in the recruitment and retention of staff. To make the appropriate changes it is first important to understand which factors employees take into consideration when deciding whether to stay or leave a particular job.

The Workforce Hopes and Fears Survey 2023, recently published by PwC, can be seen as being particularly of interest to companies and their HR and CRS departments. This found that the key considerations when making a decision, outside the expected factors of pay and reward, included ways of working (such as office, virtual or hybrid), the company culture and opportunities for career progression.

The survey also found that those searching for new jobs were unhappy in their current roles because they did not feel like they had autonomy within their role and also did not think their work had meaning.

Employer's responses to this are interesting. The changes have caused employers to consider their employees' concerns, wants and needs, much more.

As a law firm, we have found over the last year that there has been more interest amongst our clientele in considering alternative structures or outwardly promoting their status and culture by considering:

  • Becoming employee-owned
  • Applying for B Corp status
  • Becoming a community interest company.

These alternative structures or statuses can be seen to attract new talent and retain existing talent.

Employees are increasingly seeking alignment between what is important to them individually, how the business they work for operates and what is important to their business i.e. the local community, local environment and their employees.

If you would like to get advice on any of these alternative structures or to apply for certain statuses, please get in touch with the Corporate Team and we would be delighted to help you navigate these processes.