22 March, 2023, 7:30 pm
NEW employment dynamics such as gender equality and a healthy working environment are pushing human resource professionals into thinking strategically, says BSP Life managing director Michael Nacola.
Speaking at the 2023 BSP Life FHRI Convention at the Sofitel Resort and Spa in Denarau recently, he said adjusting to these new dynamics was important in order for HR to acquire the best in the employee market.
“People know their worth,” he said. “You cannot underestimate the fact that someone looking for a job will be comparing organization A, B and C and they will be doing research on what is your culture like? Do you treat your people right? Do females get an equal voice and is the potential for progression strong?
“One organisation may offer $45,000, the other offer $35,000 but the employee will go to the one with the $35,000 because there are other peripheral benefits that make it more attractive for them.
“These are new dynamics that are sort of pushing HR into that strategic space and you as practitioners need to be intuitive to what is happening around you so that you can adjust the internal policies and practices according to what the market requires.”
He said if this was not addressed by HR professionals, their organisations could lose valuable employees. “Otherwise, the market will bypass us.
“People will go either to another organization or go overseas and the talent that is within will be hard to retain.” He added that different generations of employees had different demands.
“Young talents have different expectations from those of us who have been brought up in organisations for some time. “Their loyalty to a brand depends on whether that brand is going to be loyal to them.
“That is the reality of today and we have to ask ourselves are we in tune with the reality and the expectations of the young people that are coming through the market.”