- LinkedIn’s 10th annual Global Talent Trends report on the reinvention of company culture found that workers are prioritizing work-life balance when looking for a job.
- Workers are now seeking flexible work arrangements, more work-life balance, and they really want to work for employers who value their well-being.
- Workers are willing to walk away if their employers do not check off all of their requirements.
LinkedIn’s 10th annual Global Talent Trends report on the reinvention of company culture found that workers are prioritizing work-life balance over all else when looking for a job.
If companies don’t take flexibility and employee well-being seriously, or get their culture brand right, they won’t meet the expectations of today’s professionals or win talent wars.
Here are some key takeaways from the report:
Flexibility is critical for retention: There was an +83% increase in job posts mentioning flexibility since 2019.
Well-being content is resonating with workers, especially women: Women were 41% more likely to engage with “well-being” company posts compared to the average post.
Culture is a selling point for job seekers: There’s a +67% engagement boost when company posts mention culture.
Company culture has never looked like this before
Although it’s been said a million times, the pandemic really did shift the world of work in a massive way.
According to the report, employees have begun to rethink how, where and when they work, and they’re giving great thought about their relationships with their employers.
Workers are now seeking flexible work arrangements, more work-life balance, and they really want to work for employers who value their well-being.
Most importantly, workers are willing to walk away if their employers do not check off all of these requirements.
There’s little doubt that remote work has become the new normal: Of more than 500 C-level executives in the U.S. and the U.K. surveyed by LinkedIn, 81% said they are changing their workplace policies to offer greater flexibility.
Similarly, companies are also thinking about how their cultures can evolve with employees. In order to attract, retain, and grow great talent, companies need to overhaul their culture to meet the expectations of employees.
“The people who are satisfied that their organization does a good job providing work flexibility in terms of time and location are 2.6 times more likely to be happy working at their company and 2.1 times more likely to recommend that others work at their employer,” said Justin Black, head of people science at LinkedIn.
Companies are discovering that their own well-being is linked to their employees’ well-being
Companies everywhere are beginning to understand that their own well-being is inextricably linked to their workers’ mental, physical, emotional, and financial well-being.
“We’re suddenly concerned for employee well-being and the well-being of our employee’s family. The fact is we are in each other’s homes now and there’s no longer this separation between work and home life. You get the whole human and you need to think about how you work with, support, and engage the whole human,” said Becky Garroch, the VP of people and places at Digital River.
A critical driver of employee well-being is flexibility. Beyond that, companies are finding more and more ways to demonstrate care and compassion for their workforces, including giving time back, offering well-being services, and rethinking processes by shortening or eliminating meetings and better leveraging team communications.
These initiatives address the reality that it’s hard to have a healthy, productive culture without a healthy, productive workforce.
Employers and employees are realizing that they can do better
Employees have begun to prioritize their well-being and to seek more agency about where and when they work. This insistence on a new relationship with work has been the main cause of the Great Reshuffle.
“Business leaders are rethinking their entire working models, cultures, and company values. Employees are rethinking not just how they work, but why,” said LinkedIn CEO Ryan Roslansky.
Organizations that cling to their old ways may be inviting talent problems.
According to the Microsoft 2021 Work Trend Index, 41% of global employees said they were likely to consider leaving their jobs in the next 12 months.
Labor shortages have held back industries across the world, from China to Germany to the U.S, where a record 4.3 million workers quit their jobs in August 2021 alone.
Organizations that rethink and renew their cultures can be greatly successful in the new battle for talent.
According to LinkedIn data, job seekers have become choosier, viewing nearly twice as many job posts before applying in 2021 than they did in 2019.
Rather than focusing on challenging work, hypergrowth, and far-off ambitions, companies may fare better if they consider expanded flexibility, inclusive benefits, and internal mobility rates.
“Company culture is swiftly evolving, and to keep up, organizations must innovate and think progressively. We have this singular opportunity to create the culture and circumstances that will allow each employee to do their best work and to lead their best life,” said Teuila Hanson, Chief People Officer, LinkedIn.
For organizations everywhere, the Great Reshuffle is a pivotal moment with huge challenges and possibilities. Those that are able to rethink the workplace constructs that have been in place for the last century and to reimagine where, when, and how work gets done will have an edge on those that don’t.
In exchange for the ability to create a work life that best compliments their personal lives, employees will welcome the chance to be judged on the results of their work rather than face time.