5 ways to rethink your talent strategy in 2024

3 - Tap into purpose

Gartner's research indicates that while 82% of employees value being recognized as individuals rather than just employees, yet only 45% believe their organization genuinely perceives them this way. This discrepancy prompts individuals to question whether they are appreciated in their work or if they are merely contributing outcomes and value for the benefit of others. As a result, employees are more inclined to consider leaving their current jobs.

Tapping into purpose can help address this discrepancy. Being a purpose-driven organization gives employees a sense of meaning and encourages engagement in the goals of the business. 

To discover your company’s purpose, listen to your workforce. Discover what drives them, how they view the business, and what their deepest needs are. Then use these insights to guide every decision made by company leaders. Above all, be authentic. If workers can’t see themselves as part of the company’s purpose, then it’s hard to build an employee workforce strategy.

Additionally, try to avoid making purpose a hollow gesture or just another initiative pushed from the top. Purpose cannot be imposed. Otherwise, there is a risk of potentially doing more harm than good to both the organization and your reputation.

4 - Improve workload management

Look for opportunities for efficiency in your employee’s daily tasks. Many routine and repetitive tasks can be reduced using automation, freeing workers to focus on more fulfilling tasks. For example, chatbots can manage many basic customer and employee interactions, enabling sales teams and HR to handle more complex work. Before you invest in IT service management tools, consider how they will integrate with existing processes and workflows. 

Another option is corporate outsourcing. Outsourcing can reduce worker burdens and burnout and provide immediate access to a skilled talent pool without a long-term commitment. Outsourcing is particularly valuable in situations where workers are overwhelmed due to layoffs or talent shortages. 

For example, outsourcing entity management can be a cost-effective solution for tackling repetitive work that requires a high level of accuracy and for managing surges in workload during high-volume seasons.

5 - Become a great employer

While nearly every CEO acknowledges a talent challenge, few organizations have clearly defined what constitutes an exceptional employer. CEOs should have faith in the potential of their workforce, provide them with opportunities, and foster an environment conducive to innovation.

A great employer creates a workplace that people want to be part of and engages them to be their best. According to research by the World Economic Forum, this means giving them the full package: a secure, flexible, inclusive, and financially stable place of employment – and a place where they feel they belong.

Meeting these expectations is critical if you want to attract and retain top talent. Strive to cultivate a culture where everyone – from the basement to the boardroom – understands that shaping the employee experience is a collective responsibility. Ultimately, this starts at the top. Company leaders must be willing to take accountability for the employee experience and prioritize it. 

In the end, becoming a great employer depends on your company and what it can offer. While financial benefits matter, they are not the sole consideration. Find ways to involve employees in decisions that affect them, promote a culture where each manager adopts a similar approach, treat every employee equitably, and nurture an environment where work holds personal meaning for everyone.

Learn more

As you move through the upcoming year, CT Corporation is committed to aiding your business in maintaining compliance, allowing you to concentrate on the year ahead. If you want to learn more, contact a CT Corporation representative or call us at (877) 878-1800.