There is no doubt that embracing digital transformation is a must to grow and prosper in today’s business world.
Organizations of all types across the globe are striving to find the best talent to help them do just that —especially in the tech space. As if that weren’t enough, with the widespread demand for these positions, most companies are facing significant challenges not only in attracting that talent, but in retaining it.
The situation in Barcelona today shines the spotlight on these concerns and prompted Strands CEO Erik Brieva’s invitation to speak at the "Spring Professionals, by Adecco" October event to share how we do it at Strands.
Here’s what he had to say.
1. A Sense Of Belonging Is Paramount
Of all the strategies to retain top talent, developing a sense of belonging is a key part of the equation.
Although it may look like a relatively new concept, creating a culture of belonging allows employees to bring their very best to the table, something that has a major impact on performance.
At Strands, we make employees feel like they belong by throwing company parties and team-building experiences, but above all 20 percent of the company’s value is owned by our employees, meaning that in the event that the company is acquired by another, employees receive their part of the compensation.
2. It's About Aligning Personal And Professional Goals
Aligning the interests of the employee with those of our company is fundamental when it comes to talent retention.
A good way to achieve this is to promote learning and training from within the organization.
Tactics like employee-manager regular communications, Udemy courses, conferences and workshops provide us with on-demand learning solutions that upskill Strands workforce and drive knowledge forward.
Employees are offered the opportunity to experience working in different roles, departments and international offices, to help them find the area that suits them best.
3. The Value Of Having A Mission-Driven Company
It’s a fact: mission improves engagement.
In this sense, mission-driven employees are 54 percent more likely to stay for five years or more at a company and 30 percent more likely to become high performers than those who arrive at work with their paycheck as the only motivator.
Put simply, at Strands we solve real problems —and knowing that brings meaning to the work we do.
We help people and companies to better manage their money. It is great to see the result of our efforts and how millions of bank clients worldwide benefit from what we build.
4. Flexibility Isn't Just A Nice-To-Have
Employees are no longer impressed by the free coffee and snack bar. They need to trust the company they are investing their talent, time, and effort in.
One way to create that trust in Strands has been to show we trust our employees. And there’s no better way to prove that trust than to offer flexible work options.
It's all about give and take. Stranders are given a high degree of flexibility in terms of hours, place of work and roles. We apply the same flexibility when working with our clients, adapting to their needs.
5. Show Employees That They Are Contributing To A Greater Purpose
Last but not least, praise and recognition are essential to an outstanding workplace.
Employees need to see that they are contributing to a greater purpose, and they have to be acknowledged for what they do. They must feel valued at work, which isn’t always about raises or promotions.
It’s largely about how leaders treat them —from trusting their decisions to listening with empathy to their needs and goals.