“With five generations now working in many organisations, each with very different ideas on what they want from their working life there, is a challenge and an opportunity for employers.”
For Robert Camp, Director of Strategic Innovation at South West law firm Stephens Scown LLP, the biggest change in recent years has been the upward pressure from new generations who want to work for an organisation with a purpose that fits their personal values.
“Business models like employee ownership and B Corps are a very visible manifestation of an organisation’s values and purpose. There is no doubt that there is a war on talent, with professional services firms battling it out to attract the best recruits. For Stephens Scown, changing our business model and becoming employee owned has given us a competitive advantage,” says Robert Camp.
“Employee ownership makes our culture very visible and candidates who share our values are more likely to apply, which means a greater return on our recruitment costs. Before becoming employee owned, we would interview 10 candidates and know straight away that three or four were not a good fit for the firm. Now out of 10 interviewees we often find that 8 or 9 of them fit well with our culture.”
Robert also argues that getting the right new recruits is not enough.