According to the latest U.S. jobs report, the U.S. economy has posted 100 straight months of increased employment. In addition, the predicted shortage of talent by 2020 in the U.S. and Europe is nearly 20 million for highly skilled workers. While attraction and retention of talent have always been important elements of effective leadership practice and culture creation, our current job market—one of the tightest in recent history—makes talent attraction and retention more critical than ever.
How does a company crack the code for attraction and retention in this context? How should leaders respond? Attracting employees is always about finding a great match between the unique employee and a company’s culture. But, there may be some fundamental truths all employees are looking for which can guide companies seeking the best and the brightest.
An intriguing new study by the University of Oxford analyzed 60 different societies and found seven key moral requirements shared by all groups. Despite wide differences in people, there are key rules that act as moral and social imperatives.
These imperatives offer a compelling perspective for corporations seeking to attract and retain talent.
Moral Rule: Help Your Family and Your Group, Translation: It’s All about Teamwork
People want to work at companies where they are supported by their colleagues. Even in the most competitive fields or roles, people work best when they are part of teams in which they are respected and can fully contribute their skills and talents. The best teams allow for members to make mistakes, learn and fail forward. They are teams where people help each other. It’s not just about cooperation within teams either, great work experiences also feature teams that work well across boundaries, building bonds with people from other groups and departments. Relationships in these contexts must be strong in order for people to want to join and stay with an organization.
Moral Rule: Be Brave, Translation: Take Risks
The most rewarding work experiences are those in which employees can stretch and take appropriate risks. In addition, risk taking is required for companies to innovate, so the moral imperative to be brave applies within the corporate context. Create space for people to have creative confidence—the assurance to try new things and roll up their sleeves—whether with new projects or even just new ways of doing the same old task. Companies can foster risk taking by providing recognition for people who stretch and avoiding punishing people who don’t hit the mark when they try something new.
Moral Rule: Defer to Superiors, Translation: Respect Experience
Most companies have some degree of hierarchy because it is one of the most efficient ways to organize work and make decisions. While those in positions of leadership deserve respect, this element of a great work experience—and of the kind of work experience that attracts and retains people—is more than just hierarchy-based. All employees deserve and crave respect—for their experience, for their creativity and for their effective performance.
Moral Rule: Divide Resources Fairly, Translation: Demonstrate Equity
Employees have a desire for equity. While they understand that not all roles are the same, the requirement for equity—that is, fairness—is critical to their full commitment and motivation. Two different studies demonstrate when employees don’t feel a sense of equity, they may withdraw or leave the company. Companies that employees want to join and stay with tend to be those that treat people fairly—providing things like work assignments, promotions, and compensation which are aligned with talent, experience and contribution.
Moral Rule: Respect Others’ Property, Translation: Give Credit Where It’s Due
While it is tempting to look at this value as a simple expectation for safety and security, and this must certainly be a condition for attraction and retention, the real opportunity is to view this requirement as it relates to respect and credit. One of the most demotivating conditions employees report is when others take credit for their work. In the best workplaces, there is plenty of recognition and goodwill, and rather than others taking credit for work that isn’t their own, they tend to provide credit to others and offer recognition liberally. Of course, different employees have varying preferences for public recognition. But, it is a general truth that people want and need to be respected and recognized for the contributions they make.
Moral Rule: Return Favors, Translation: Help and Reciprocate
The human condition loves reciprocity. It is a universal tendency to give back after others have given to us. This is true in work environments as well. Reaching out and helping others is good for us individually. And, a corporate culture that also embraces those who give back encourages our instinct to reciprocate—contributing to a virtuous cycle. Offer help, share and support colleagues, and they will tend to do the same, making for a positive work experience.
In a tight job market, finding the very best employees is hard—and keeping them is even harder. However, it’s not difficult to crack the code when companies and leaders appreciate and leverage knowledge of fundamental social expectations. These moral rules offer a powerful guide for creating the kind of work experience that speaks to all people.
