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go, promotions are high up on the list. However employers should also demonstrate their continued investment in the development of members of staff through ongoing structured training programmes. Whether that’s providing employees with training on new technologies, skills or the latest in industry changes - showing commitment to their progression and development will make an employee feel valued and appreciated within a company.
When it comes to staff retention it truly is the little things that count - and attractive employment propositions go well beyond just salary. Perks such as healthcare, gym memberships and an integrated approach to health and wellbeing truly demonstrate the value an employer places on their employees. Benefits which go above and beyond an employee’s statutory holiday, maternity and paternity rights, establish that a company takes a positive and open approach towards employee health and wellbeing. Employers must also be diligent when it comes to their employees’ mental health and emotional wellbeing, particularly regarding workplace bullying. This is a persistent issue within organisations, and employers must ensure that company policies are clearly outlined when it comes to bullying and behaviour, whether that’s inside work, socially or on social media. By visibly enforcing a zero tolerance approach to this kind of behaviour, employers will encourage a positive working environment within which employees can flourish and progress their careers. Maintaining a positive and nurturing working environment is one of the simplest ways that an employer can retain their members of staff. Not giving employees feedback for their work or regular appraisal meetings will cause them to be unmotivated; this in turn can create a stagnant and uninspiring workplace which could eventually cause employees to leave. It can be easy for employers to take their employees’ exceptional work for granted and focus on when things go wrong. However by delivering praise and recognition where appropriate, an employer will find that their employees’ feelings of value, worth and motivation increase as they establish their position within a company. Employers must establish early on how often they will provide their employees feedback on their work or arrange review meetings, whether that be monthly, quarterly or annually. In addition, an employer should be accommodating towards an employee’s request for feedback or review meetings. It’s not always easy to develop a strategy to retain the very best talent, yet it is an essential process in order for a business to keep hold of its most valuable employees and, ultimately, continue to grow successfully. If an employee is unhappy, dissatisfied or underappreciated in their current position they will start looking for another. The buoyancy of the UK job market means that there are a number of employers out there who can promise attractive packages. Employers who implement a strong retention strategy will keep hold of their talented members of staff and see them progress and thrive within the organisation, to the benefit of both them and the employee.
retaining the next generation of leaders
Representing one of the largest segments of the workforce, millennials are the next generation of leaders. Ambitious, this group come with their own set of values which must be understood if HR departments are to effectively recruit and retain them. According to The Deloitte Millennial Survey 2016, forty-four percent of Millennials say, if given the choice, they would like to leave their current employers in the next two years. The findings identified a perceived lack of leadership-skill development and feelings of being overlooked which are compounded by larger issues around work/life balance, the desire for flexibility, and a conflict of values. Generation Y hold different values to their predecessors, and employers need to take note. Personal finance plays an extremely important part in their lives; this is a more cautious and risk-averse group. Conscious of current economic conditions, they are long-term planners, eager to save enough to own their own homes, put their future off-spring through university, and enjoy a comfortable retirement. According to a number of recent studies, they show far more interest than older generations in the selection of employee benefits on offer. Eagerly seeking high levels of financial security, they are looking to potential employers for a benefits package that will help them to achieve this. So what can organisations do to appeal to the values held by the younger generation, in order to bring them on board and keep them engaged in the business? Providing a compelling employee benefits package is essential, and will demonstrate the responsible business behaviours that millennials seek out. HR professionals should consider the inclusion of the following: flexible working, childcare vouchers, income protection, health insurance, and access to financial advice. Flexible working is valued highly by younger employees as it enables them to strike the work-life balance they are looking for. Many large companies already operate a flexitime system, allowing staff to commute to and from work outside the traditional rush hour times and also work extra hours to build up ‘flexi days’ where there is no need to go into the workplace.
Source: Wealth Wizards
HIRING THE
RIGHT CANDIDATE FOR A ROLE IN THE FIRST PLACE IS THE FIRST PART OF THE OVER ALL CHALLENGE - IT’S POINTLESS TO IMPLEMENT
A STRONG RETENTION STRATEGY IF AN EMPLOYEE ISN’T RIGHT FOR THE COMPANY TO BEGIN WITH
FOR FURTHER INFO
www.elas.uk.com
SEPTEMBER 2016 thehrdirector 43
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