Dear Communicator: An Open Letter on “Winning” the Race for Talent

First, and often frustratingly, there’s plenty on social media saying it’s all about the money. Companies have been attacked for reporting profits while (so critics say) not increasing wages to meet the pace of inflation – and it’s so easy for these commenters to claim there would be no friction if only companies would pay employees a “fair” wage. And there may be some elements of truth in that thinking. Companies of all types should absolutely be looking at pay to ensure its competitiveness in the market and fairness for all employees. But it’s certainly not that simple.

While compensation may get employees in the door, it’s the culture that keeps them there… and that’s a lot to unpack. We’ve heard from many companies that have made significant efforts to listen to their teams, respond to the needs they’re hearing, and make employees feel valued that are STILL seeing unprecedented turnover. We’ve also heard from a lot of frustrated people leaders and communicators who know they need to do more but can’t get the budget because businesses are still hurting. If this sounds familiar, we can assure you that you’re not alone.

Unfortunately, we don’t have all the answers, but here are a few ideas for anyone out there looking for another lever to pull (and really, aren’t we all???).

1. Take another pulse check – The realities of COVID forced many of us to make snap decisions that sometimes erred on the side of what felt possible in the moment vs. what would have been an ideal solution under other circumstances. We’re also finding that employees’ ideas about what they really want long-term are changing quickly. Trust. Support. These types of words come up often, but until we know what they mean to the people we most want to keep, we can’t be sure we’re solving the right problems. “Start slow to move quickly” has become a mantra for our crew. Gathering fresh intel can often spark fresh thinking.
2. Define the value proposition – then make it a team sport – Another pain point we’re hearing a lot is the shared responsibility of building a strong culture. We admittedly have a biased sample of influencers and fully acknowledge that all leaders are taking on extra responsibility these days. But let’s be honest: HR and Communications have done a lot of the heavy lifting to lead employees safely and successfully through the pandemic. It’s not sustainable, and many of us are feeling that acutely. As communicators and change leaders, we embrace the responsibility to help leaders articulate a vision of the employee experience and value proposition our organizations are working toward. Creating that experience, however, is everyone’s responsibility. There’s no shortage of great case studies about companies engaging every team in the business to rollout an innovative new product. Why not do the same to ensure that everything from comp and benefits to physical space to IT systems or team events are lining up in a way that creates a truly differentiated experience? What if it became an innovation challenge all leaders shared? Imagine the art of the possible.
3. Empower leaders to experiment in the world of the perfectly imperfect – We’ve probably all been guilty of letting the perfect get in the way of the really, really good – and when it’s something as important as an employee value proposition, alignment is important. That said, it’s equally important to remember that small-group discussions and personal touches can be just as impactful as fully baked and branded campaigns – and sometimes even more so. We’ve said it before, and we’ll say it again: People need help now. They’re making decisions about their careers now – especially if bonuses are recently paid. What can you do to encourage leaders to rise to the occasion of making employees feel heard and valued? What would healthy competition look like? What new incentives and recognitions would inspire them? What are the everyday action sprints that add up to real change? Sometimes, we need to think small to get to the big bang (and be ok with pilot solutions that aren’t quite perfect).
4. Help candidates live your experience from the first interview – The pandemic has given people time, or in some cases forced a pause, to think about their priorities and re-evaluate the trade-offs they’re willing to make for a big paycheck (maybe even any paycheck). We’ve entered a brave new world in which candidates are trying on a company’s value proposition throughout the interview process and, to be frank, interviewing the company as much as the company is interviewing them. The experience created through the interview process says more than any job description or fancy list of perks – and to make it even harder, the experience begins before you’ve even met the candidate because they’re already reading and watching your social media, taking notes on ESG and DEI positions, assessing the personality of the company and reading reviews. Consistently communicating your values and being smart about how you engage on social media have become table stakes. Cutting through means letting your employees tell their stories, bringing career paths to life, creating personal connections, and pushing content toward your top targets with savvy digital strategies. Every employee has a role to play.
5. Never stop listening and learning – It’s been said that the best leaders are not always the smartest people in the room. Rather, they’re the people asking the smart questions – and truly listening to the answers – to get the best decision. They’re curious in ways that feed continuous learning and creativity, and they provide space for others on the team to feel heard and valued. We know it can be hard to filter a bias towards action. And we know a little bit of listening and learning comes with great responsibility because you absolutely need to report back on how the ideas were put into action. But creating these “feedback moments” (another key phrase for our team) is essential for the continued evolution of the strategy, so let’s all join forces to make it happen.

We could probably talk about this topic for days, but those are the top five. They’re not all the answers, but we hope they inspire you as you create a value proposition and employee experience that’s as unique as your company. And of course, we’re always here to help as you continue the journey.

Wishing you all the best,

Your Friends at FTI Consulting