To succeed in operating effectively in controversial labor markets conditions, ImportantParcel should adopt the strategy that incorporates the extrinsic and intrinsic factors that motivate the workforce of the company. The essential element of this strategy is the desire to make the organization as an employer of the cash. ImportantParcel can also considerably increase its attractivity by designing such remuneration packages which are not only competitive but also go a notch higher than the industry average. Empirical studies reveal that good financial rewards will be the main driver of attraction and retention of employees. As an example, Ali, Mahmood, and Mehreen (2019) place a particular emphasis on the transparent career advancement and well- organized performance appraisals, and both variables are positively correlated with the employee satisfaction in the presence of fair pay.
The sustainability of any such method of compensating its employees is of importance, and in that regard, it is relevant that the organization supports said compensation strategies with proper performance management and workforce planning systems, thus aligning the rates of pay with productivity rates. According to Marchington et al. (2020), management efficiency can be increased by correlating reward schemes with measurable indicators of performance to prevent the trap of the wage inflation process. Although a directive style of management might be essential to maintain consistency within the hectic realms of logistics, it is crucial to ensure that it will be balanced with the ideas of procedural fairness and transparency to ensure high morale and employee trust (Gibson, 2021). In this regard, it is essential that the role of employer of cash should be based on the data-driven decision-making and monitored and reconsidered based on the outcomes of both labor market intelligence and the data about human resources (Weeks, Reilly & Hirsh, 2018).
Of equal significance to future positioning is the adoption of the strategy of employer of values one that aims at nurturing a culture of purpose orientation and ethical character within organizations. According to recent research, the greatest part of younger generations of jobseekers tend to prefer employers with whom they can identify, valuing their well-being above all, and striving to establish welcoming, inclusive, participatory work environments (Adams, 2022; Samoliuk et al., 2022). This would require the incorporation of values of fairness, accountability, and inclusiveness in the organizational policies and practice (Hosseini et al., 2022). Moreover, strategic talent management frameworks also emphasize the fact that engagement and retention of employees are inextricably enhanced when their corresponding organization is viewed as responsible within the social and ethical service based on the overall perception prevalent among the pertinent personnel (Anlesinya, Dartey-Baah, and Amponsah-Tawiah, 2019).
Values-based differentiation, which would strengthen employer branding in a highly competitive labor market such as the logistics and delivery industry not only increases the attractiveness of the organization to future employees but also to its current employees. This is not only an ethical strategy, but also a strategic one because companies with good employer brands will experience decreases in costs incurred during the recruitment process and enhanced performances of the employees. Thus, congruency of the financial and values-based strategies will qualify ImportantParcel to achieve competitive advantage in labor markets and guarantee sustainable organizational life.
References
Abbas, S.I., Shah, M.H. and Othman, Y.H. (2021) ‘Critical Review of the Recruitment andSelection Methods: Understanding Where We Stand’, Annals of Contemporary Developments in Management & HR (ACDMHR), 3(3), pp. 46–52. Adams, B. (2022) Make your employer brand stand out in the talent marketplace. Harvard Business Review (online). 8 February. Ali, Z., Mahmood, B. and Mehreen, A., 2019. Linking succession planning to employee performance: The mediating roles of career development and performance appraisal. Australian Journal of Career Development, 28(2), pp.112-121. https://journals.sagepub.com/doi/abs/10.1177/1038416219830419 (Accessed on August 9, 2022) Altman, E.J., Kiron, D., Schwartz, J. and Jones, R. (2023) Workforce ecosystems: reaching strategic goals with people, partners and technologies. Cambridge, MA: MIT Press. Anlesinya, A., Dartey-Baah, K., and Amponsah-Tawiah, K., 2019. Strategic talent management scholarship: a review of current foci and future directions. Industrial and Commercial Training, 51 (5), pp. 299–314. Dinnen, M. and Alder, M. (2017) Exceptional talent: how to attract, acquire and retain the very best employees. London: Kogan Page. Gibson, A. (2021) Agile workforce planning: how to align people with organizational strategy for improved performance. London: Kogan Page.
