Why companies need to put more effort into finding good employees

May 8, 2023

Within a rapidly changing working world, it’s becoming increasingly more challenging for companies to find qualified, motivated workers. A 1997 study published by McKinsey already described the situation as a war for talent, referring to the competitive recruiting of so-called “high potentials” to fill key positions. Nowadays, the difficulty of finding good employees is no longer only limited to management-level roles. What is the reason for this?

New Work and the lack of skilled workers

The explanation might lie in the observation of several developing situations. On one hand, the lack of skilled workers has impacted companies at all operational levels. This skills shortage means that a large number of positions which require specific professional qualifications cannot be filled, as there simply aren’t enough suitable candidates to occupy them. In Germany, this shortage is attributed to demographic change and the labor force shifting into other professions due to the Corona crisis. On the other hand, the job market itself has been undergoing a transformation in recent years, such as the digitalization of various working processes, which has redefined what is required from employees and has subsequently led to newly created job definitions.

At the same time, employees inspired by the New Work movement are demanding more from their workplaces. They place great emphasis on achieving a work-life balance, having purpose in their work and participating in a corporate culture that harmonizes well with their own values. Thus, the job market has turned from an employer’s market into an employee’s market. Companies have to first woo prospective employees with an impressive total package and afterwards remain consistently attractive as an employer. If you’re looking to hire and retain good employees, consider the four suggestions below:

Enable work-life balance: For the Gen Z and millenials who are currently entering the job market, a work-life balance is especially important. At Unicorn, we contribute to our employee’s work-life balance by offering part-time work and flexible working hours, a relaxed remote work policy and the option to even go on a workation.
Provide a modern working environment: The office is a social space, a place that should inspire and motivate teams. How enjoyable it is for your staff to come into the office depends on its infrastructure. When employees are choosing a workplace, the opportunity to have an excellently equipped workspace with nice extras is definitely an advantage. It’s even been speculated that our teams get motivated on a daily basis, thanks to the delicious specialty coffee drinks provided by our own in-house baristas.
Offer training opportunities: Employees will stay with a company longer when they believe there’s a chance to grow within the organization, and training sessions can be held effectively on site. We’ve realized that the opportunity to get familiarized with a different area of work, to acquire new skills - and perhaps even join a new team or department – is an exciting prospect for our Unicorns.
Develop an employee wellbeing strategy: Since having a strategy is helpful for keeping good resolutions, we’ve implemented an employee wellbeing strategy at Unicorn. This strategy incorporates best practices for supporting the mental, physical, emotional and economical wellbeing of our Unicorns. Having our strategy in place provides clear offers for our team and a concrete implementation plan for us.