London-based business consultant Josh Cote believes that companies can see benefits in employee recruitment retention and productivity when including social responsibility as part of an incentive package.
This assertion was communicated to an audience of budding entrepreneurs on Sunday 3rd June 2018 at the Novotel London West, where Mr. Cote outlined why people fail to make it in business. The consultant argued that failing to hire and retain top talent often plays a critical role in the majority of business stagnations or capitulations, and spoke passionately about adhering to best practice and emerging trends in recruitment processes.
According to Cote, one of said emerging trends is CSR (corporate social responsibility), and the business consultant explained how it resonates so strongly with young audiences in present-day 2018;
“As the market for talent becomes increasingly competitive, companies will have to go above and beyond to stand out. With millennial employees having an availability of job choice like no other, I’ve seen first hand how they would rather work for leaders whom they admire – especially those who exemplify good CSR practices,” revealed Josh Cote.
Mr Cote believes that in London, there are now more jobs than there are candidates, and claims this was not the case 5 years ago. Despite this indicating a kind of ‘golden age’ in recruiting within the United Kingdom, he claims that over 60% of small-medium sized businesses are still having difficulty in acquiring and retaining top talent.
Statistics from an article on entrepreneur.com appear to support such claims, as 67% of respondents stated they’d prefer to work for a socially responsible company, and 50% of millennials want to work for a company with ethical practices.
“If you don’t have a dedicated page for your CSR endeavours or volunteer work on your website, then add it now. A large percentage of talented individuals view this in higher esteem than recognition or any salary figure,” claimed Josh Cote.
The American-born but London-based business consultant believes that many companies within the UK are thinking more and more about CSR, but communicating that commitment in concrete is the next step in retaining and attracting the upper echelons of the talent market.