In a digital age which is data-driven, results-oriented and market-centred, businesses are constantly adapting to the fast-paced nature of evolving market landscapes which are influenced by digital innovation. With such changes capable of affecting business strategy and ideology, companies must be aware of the potential impacts being made at the workplace, and how talent can be retained for the right reasons.
As of present, an abundance of opportunities in tech are generating an influx of jobs in Malta for professionals in tech and finance, with sectors of Fintech and iGaming giving rise to more diverse roles within fields of tech specifically. Moreover, digital innovation is spearheading further collaboration at the workplace between tech and finance professionals, this demanding a more inclusive environment at the office. As companies merge these two departments to work more closely and in synchronisation with each other, they must keep in mind that the interactions between colleagues must be kept as positive and enthusiastic as possible to foster a culture of innovation.
Demands of the Digital Age
Businesses are becoming fast-paced more than ever before, impacting workplace cultures and thus, employee levels of wellbeing. Now, as the demand for talent continues to grow, companies should keep in mind that they are not only hiring for skills, but also for competence, drive and purpose. Further to this, companies also use first impressions to understand whether the candidate would be an ideal cultural fit for the company, especially in an age which is requiring greater levels of collaboration at the workplace. This means that as companies filter out candidates with required skillsets, they are also keeping in mind their capacity to engage and work with colleagues, so a good mix of hard skills and soft skills come into play during the recruitment process. It is therefore no surprise that amidst the technologies of our time, employers seek candidates who possess interpersonal skills and display a strong and stable mindset to tackle their tasks with a positive and driven motive.
Allowing employees to attain their highest potential and level of purpose is a practice which is usually taken for granted by many organisations. Many efforts are being made in promoting a great employer brand through talent retention perks such as inclusive refreshments and healthy snacks at the workplace, paid gym memberships, attractive office environments, performance bonuses, insurance and other schemes - yet what should not be left unnoticed is the importance of providing the right support to employees on a personal level, which works wonders for talent retention and surprisingly also contributes greatly towards an organisation’s bottom line. Genuinely treating employees with care and compassion is a simple way of letting them know that they are valued both professionally and personally.
The approach being taken is one which communicates the importance of employees as human beings and not just resources, and this provides a win-win for both employer and employee, as relationships are strengthened in all areas and a foundation of trust established in little to no time. Being open to feedback from employees is also a practice which should be put into effect to better gauge employee satisfaction and understand individual as well as common concerns at the office. Moreover, leading a team of people requires having a good understanding of their best interests, what they are passionate about and what motivates them, meaning that by approaching employees on an individual level team managers can comprehend more effectively the satisfaction status and the needs of their colleagues.
Empowering the Individual for Collective Growth
By empowering each employee, companies will be working towards a positive change at the workplace, leading by example for the rest of the industry too. By embracing the human element of the recruitment process companies will work towards getting the most out of their current workforce, with this also serving as an incentive towards talent retention in the long run. Furthermore, by encouraging employee growth and development through a number of team-building activities and up-skilling initiatives, organisations will be displaying their concern towards their top asset - their people.