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Job satisfaction matters more than prospects to next-Gen employees
After being in the recruitment industry for over a decade, the first and most common question asked by candidates tends to be: "What is the company offering?" Salary? Bonus? Stock options? Fringe benefits? Hours? Management style? And the list goes on...
As employers, you’d think that the role, job prospects, company culture, branding and so on, would be the key consideration factors, and they are, but only to a certain extent.
It is 2017 and the hardworking baby boomers from the 1950s and 1960s are soon to retire. Each year we have more and more Gen Y and soon-to-follow Millennials joining the workforce in Hong Kong. These are individuals who are internationally exposed and gain knowledge off the Internet instead of an encyclopaedia. They are looking for a work environment that would provide them with job satisfaction, excitement, flexibility, a good salary and most importantly, happiness.
In order to attract top talent to work for you, it begins with the potential of the industry and how you sell the dream to them. You may be surprised to learn that more and more talent are looking to join startups, companies at an initial growing stage as opposed to the more stable companies or sunset industries which our parents once belonged to. They want to be part of an energetic company that can provide growth opportunities rather than a company that is in constant restructuring mode.
Aside from the company vision, corporate values and culture, employees put a heavy emphasis on monetary returns and work/life balance.
Over the years, Hong Kong enterprises have raised their awareness in providing better working hours, annual leave and medical benefits to their employees and these changes have assisted them in attracting more international professionals to joint their firms. However, you could ask why multinationals or international banks and even startups, are still the preferred employer by the majority? This is vastly due to management style and flexible working environments or arrangements they are able to offer. These organisations work in a more liberal environment where employees feel more valued and are allowed control of their own schedule.
Organisations looking to hire top talent moving forward, need to consider their own business direction and working environment, in order to appear attractive as a potential employer.
In order to appear attractive as a potential employer, organisations need to consider their own business direction and working environment.
Gen Y and soon-to-follow Millennials are looking for work environments that will provide:
· Job satisfaction
· Good salary