If you watch any real estate reality shows, you know they're famous for their "potential" shopping. So prospective buyers show up with their "dream" lists, and then realtors point them to properties that may not be exactly what they're looking for today, but that are in their right price range, and have what is often called in housing lingo as, "good bones."
The message is to look beyond what you're seeing right now and think of the possibilities.
When it comes to job shopping, today's employees are looking for the same thing - possibilities. Not just the job they're hired for right now, but what their experience could look for the long haul.
Career Development as a Recruitment Strategy
So it makes sense that our recent study showed that Dream Companies
carry a lot more power in terms of retention, engagement, and productivity than dream jobs. Jobs are about the moment... companies are about the future.
According to the study, the translation of a Dream Company
is a place where people feel their well-being, work/life balance, and career aspirations matter.
Based on the three elements above, it's logical to think people in these companies would be able to:
- See growth potential beyond their immediate job
- Picture having a personal priorities and a satisfying professional life
- See a career where they don't have to choose between professional success and well-being
Retention, Retention, Retention
The Dream Company results fall right in line with our Millennials
research that stresses the weight today's young people put on career development. They'd even trade it for higher pay. It's easy to imagine a promising young employee choosing a less senior role in a supportive company for the chance to work in a place they see the potential for growth. And in an era where replacing good people can cost up to 200% of a salary, it's well worth considering how to use positive culture, employee development, and a tangible support structure to frame your organization to be more than just today's job.
The short story is people in desirable companies see careers not just jobs. And that translates to a recruitment strategy, as well as retention and people who grow with companies for the opportunities.
So when it comes retention and recruitment strategy, what's important is not just what people are doing, but where they're doing it.
Because, just as in real estate... location, location, location.