You need to be GREAT EMPLOYER if you want to hold onto your best staff. Complete our short questionnaire to find out if you are meeting the mark!

When employers talk about the talent shortages we are experiencing, they typically point to the factors out of their control: such as the Pandemic and the economic recovery and the growing talent shortage across industries. In some ways, they’re not wrong. But in my experience, employers have more control over the retention of their staff than they think.

Taking charge requires addressing high turnover rates and factors inside companies that drive the turnover factors. Many employers are struggling with skill shortages not because it’s hard to hire, but because of the rate at which they have to rehire. Talented people are leaving their positions in droves. A poll by Monster lists the percentage of middle-income professionals looking for new positions as high as 95%.

The Pandemic has changed how many of us view work/home and life in general. People are looking for positions that better fit their goals and lifestyles and, what’s more, they know they’re attainable. While employers are scrambling to respond with flexible hours, hybrid working options and competitive salaries, they’re also missing the point. Benefits and salaries are a start — but in my experience, they’re never the real reason people will leave you for a competitor, they’re not enough to keep an unhappy employee.

Those of you that know me, know that I will tell it as it is! And a high turnover of staff reveal deep-seated problems with a company and this is not new news! Either its mission, its values, its culture, leadership or management style are generally the root cause of the issue.  Confusion about a company’s mission or lack of trust can cause widespread dissatisfaction that leaves employees feeling less valued and motivated. And as the economy continues to recover, and people gain their confidence and become more optimistic about the economic future,  employees who have been considering a move will and are making it happen.

There’s a serious skill shortage and if you are hiring, then you know this! But what that means is it’s a seller’s market right now, and the message is clear: Salary matters. Perks matter. But they’re not the whole picture. They’re rarely the reason employees leave, and they’re also not a strong enough motivation to stay. Employees are motivated to leave when they feel unheard or powerless, or when there is a lack of opportunity for career advancement. These are all outcomes that can be changed and it comes down to how you hire, how you manage your teams, how you promote talent and how you involve your teams in decisions/share information and take feedback from your employees.

So before rolling out the highest salaries you can afford, or some flashy benefits package to attract new workers, get back to getting the basics right of how you are hiring and your management of people.

1. Talk to your employees —and I mean talk to them before they are heading out the door – it’s too late then!
2. Hire for attitude and motivation and alignment with values. Don’t just focus on skills and experience, so much of this can be taught! A candidate with the right degree and background but who does not share the company’s sense of purpose, or values and approach to their work, is less likely to succeed. Even if delaying a hire means having a tough conversation with a client or your team who are under pressure to deliver, they will respect you for the decision in the long run. Better a delay then hiring the person won’t fit with the team or the clients!
3. Creating an inclusive workplace means more than just hiring from different backgrounds. It means putting processes in place for Equality, Diversity and Inclusion.
4. Focus on empowering your employees. Many organisations still see career development as an add-on that’s separate from day-to-day work. Developing talent internally is a way of creating a shared purpose between employees and companies. Assess whether there are opportunities for internal promotions, getting people ready for future roles you may need is a great way to make people feel valued and recognised.

How can we help you if you are struggling to retain people?

Reducing attrition levels isn’t easy, but this is something that we are highly experienced in achieving. If you want to be a great employer, and make sure you can attract and importantly, retain the best people, you need to be a great employer! Complete our short questionnaire and see how you measure up.

Like to get some top tips on creating your employee retention strategy?  Then come along to our next Zoominar on Friday April 8^th from 9:30am – 11am – Creating your Employee Retention Strategy. In our workshop, we will share the best actionable employee retention strategies that will help you to reduce employee turnover and retain the talent you need to run your business. Book your place here: Creating your retention strategy to avoid the predicted mass resignations – Meraki HR

Or if you want to work with us to either help you attract or retain the best talent, book a call with us here to see how we can help you.