We know that the workplace we once knew is changing and expectations from employees are shifting, so how are businesses handling these new demands?

With our recent Tech Talent Outlook Survey highlighting that work-life balance is the number one driver for tech and transformation employees right now (51%), flexibility is clearly beginning to be prioritised over a big paycheck. With economic factors, such as the rising cost of living, likely playing into this shift, we wanted to hear how companies are tackling these changes while maintaining their business needs and priorities.

During our recent roundtable breakfast event led by Simon Costa, Director of Client Engagement at Talenza, we had a chat with leaders from some of the tech industry’s biggest businesses, including Google, KPMG, David Jones, Tabcorp and RMIT, about how they’re handling the pressing issues of today’s workplace climate while also making room for trending drivers such as work-life balance, flexibility and return-to-office mandates.  

Stability, satisfaction and mental health

With companies resizing and restructuring to adjust to all the current workplace shifts, many are finding themselves facing a stability versus satisfaction dilemma as they try to balance business as usual with a variety of new challenges and employee demands.

One of the issues noted by participants at the event was the flow-on effect of downsizing, which has created an increased workload on ongoing employees. With many left with additional responsibilities to juggle, the result is a rising mental health toll and concerns around psycho-social safety. With this increased pressure on their teams, greater employee well-being support has become essential, with one participant noting, "Employees are not only doing more with less but are also caught in a cycle of fatigue that can affect mental health and overall job satisfaction”.

This has also left many weighing up job stability over job satisfaction. With 70% of tech professionals noting they’re considering new job opportunities to find more flexible options and work-life balance, it’s never been clearer that a good paycheck just isn’t going to cut it anymore. 

Heading back to the office

With the discussion around return-to-office mandates on the rise, our roundtable event revealed there are a number of diverse approaches to this issue among organisations. With some mandating that employees come back to the office five days a week, there seems to be an increasing turnover rate as professionals look for places that don’t require them to make the commute every day. In particular, younger employees are beginning to feel alienated by businesses with strict return-to-office policies, with one roundtable participant noting, "Five-day mandates feel like a step back to the '80s”. Younger professionals are now expecting their roles to integrate more seamlessly with their personal lives. 

Finding a better balance between what your team needs and what the business needs, while sometimes tricky, can actually help improve office morale. As one of the discussion participants noted, their company introduced a return-to-office policy that allowed flexibility in choosing in-office days. As a result, they’ve been able to create a more collaborative environment without sacrificing individual autonomy. 

The importance of an EVP and sense of belonging

With needs changing, it might be time to start looking at our EVPs. The roundtable leaders noted how it’s more important than ever to have an authentic and segmented EVP that helps address diverse needs and connect with employees across varying demographics, including regional, generational and job-specific differences. Segmented EVPs allow companies to address different needs, such as personal development for salaried employees or community engagement for regionally based teams. This increased focus on transparency and authentic messaging can help companies tackle turnover and build loyalty amongst their teams.

However it’s important to remember that EVPs are more than just a nice marketing tool, they can help us foster a true sense of connection between employees and the company. As one leader highlighted, "Our EVP isn’t just about attracting new hires, it’s about giving current employees a sense of belonging and alignment with our mission”.

Talkin’ bout my generation

To add another little twist to the plot, businesses aren’t just tackling one set of employee expectations but are having to juggle differing sets of priorities across different generations. For example, Gen Z professionals are typically looking for more autonomy and work that aligns with their personal values, while older generations are less focused on the location of their workplace and more on the availability of flexible hours.

Not only do different generations favour different drivers, but different roles and positions also tend to focus on different priorities. Those who are on a salary tend to be more focused on career advancement opportunities, while contractors are looking for stability and safety.

Leaders at the roundtable discussed the importance of acknowledging the unique needs of different roles and generations, acknowledging that having an EVP that offers tailored benefits to meet these diverse expectations can go long a way to improving both retention and attraction efforts. 

Flex your flexibility

If anything has been made clear from our Tech Talent Survey and roundtable discussions, it’s that flexibility is the best bargaining chip for securing top talent. For some, this involves offering creative perks to encourage in-office presence without strict mandates. For example, one leader during the roundtable discussion highlighted how they’ve introduced services like laundry pickup and office lunches to help make it easier for employees to manage their daily routines alongside work. 

Not only can creating flexibility policies help you get that talent in the door, it can also help you keep them there. Having the ability to offer adaptable working arrangements can be a major deciding factor for any employees considering roles elsewhere. 

If we’ve learned anything…

… it’s that change is inevitable, so it’s time to jump on board. As employee demands evolve, so do the needs and adaptive strategies of our businesses. Finding space for work-life balance, flexible workplace policies and authentic EVP strategies amongst the challenges of restructuring, rigid return-to-office policies and generational differences isn’t a simple task, but it’s not impossible. By developing adaptive and people-centric strategies, we can allow our employees to thrive without sacrificing business goals. 

At Talenza, we’re committed to helping organisations navigate these seemingly neverending changes through strategic insights and support. If you’re interested in learning more about the latest tech talent industry trends and how to address evolving workplace needs, click here to download our Tech Talent Outlook 2024-25 report.