We are living in times where the level of resignations is at an all-time high (The Great Resignation anyone?), it’s reported over 41% of employees looking to quit their roles or change profession. Most of whom are actively looking to do so within the next 6 months (30%).
What can we as HR professionals and business leaders do to attract and retain employees?
It’s a big question and one that’s gaining lots of discussion across many industries, as many talented employees are asking for more in the way of flexibility, better training, inclusion, opportunities to develop and an overall better work-life balance.
We’ve long since passed the point where it’s just about a competitive salary, although that is still an important part of the overall offering. According to recent survey’s just 27% of employees seek or select a new role based on salary alone. The last few years have been tough on us all (with us HR folk a little frazzled to say the least!), we’ve all felt the pressure and had to dig deep in our resilience tanks for sure.
Our wellbeing and that of our colleagues and employees should be at the top of the list. Feeling happy where you are, feeling appreciated, valued, and knowing that your contribution is meaningful, isn’t that better than funky office gimmicks? People forget that even just saying thank you, I appreciate you, can make such a difference to the person on the receiving end!
Let’s start by investing in more lifestyle offerings – this might include things like discounted gym memberships, bike to work schemes, discounts on learning courses, healthy eating and so much more.
These types of offerings are far more meaningful and really can make a difference and show you care about the individual. Think about what your company offers for wellbeing, reward and recognition. We have lots of suggestions for reward and recognition on our MyPeopleClub platform.
Don’t be afraid to personalise your offerings if possible, or where you can. Creating an employee centric environment where everyone has an opportunity to grow, have input into the business, are recognised for their contributions… all these things will create a thriving environment where people want to stay.
The demand for better benefits, more flexibility and competitive salaries will be a necessity for many as they try to negate the cost-of-living crisis this year. Getting your Hybrid Working Model and benefits packages right will be so important in the retaining and attracting of talented employees. Psst – we’ve got something very special on hybrid working coming soon, in fact on 10th June – you’re not going to want to miss it…. Save the date!
Engage your employees, start by asking what they want and what would benefit them. It’s always good to repeat this exercise regularly, as priorities change. Reaching out and establishing relationships helps to build the trust and loyalty, and that’s half the way there.
Above all keep to your word and be consistent, trust can be broken very easily and is difficult to regain. It’s your journey too, approach it with confidence and positivity, both of which are infectious and will help ‘buy in’ from the workforce.