Strategies for Competitive Advantage
Focus on Training and Development
Offer Mobility
One of the most attractive factors for employees is the opportunity to work in different cultures. Large corporations are able to provide employees with mobility to move to other countries and work with different cultures and live in a better environment. Mobility has been identified as one of the most attractive factors to retain Millennials who will become an important part of the global workforce in the next decade (PWC, 2011).
Offer Flexibility
Another important strategy to attract and retain the best talent is to provide them with flexible approach to work. Many managers prefer Flexi-timing rather than working monotonously on a routine schedule. Other options such as work-from-home have been considered as a healthy alternative as employees get the opportunity maintain work-life balance. Offering flexibility means the organization is able to provide their employees with the most suitable working environment that might not be available in other organizations (Fell, 2015).
Streamline Collaboration
One of the biggest problems in today’s workplaces is lack of communication between different departments. The best possible option that organizations can offer to employees is streaming work and ensuring collaboration is easier. When employees can work and share details about their work progress from anywhere, they feel secured that their superiors will be aware of their efforts (Fell, 2015).
References
Fell., S.S. (2015, 6 April). 5 Companies Tell Us How They Retain Their Best Talent. Retrieved 31 May 2016 from, https://www.entrepreneur.com/article/243831
PWC. (2011). Millennials at work Reshaping the workplace. Retrieved 31 May 2016 from, https://www.pwc.com/gx/en/managing-tomorrows-people/future-of-work/assets/reshaping-the-workplace.pdf
