How to Attract and Retain the Best Employees
Keeping your employees and keeping them happy
Attracting, retaining and developing talent can often be a struggle for employers. In fact research from Manpower Group1 suggests that 40% of global employers are reporting talent shortages.
Employee expectations are high, so you need to do more than ever to stand out to attract and retain the best talent. And given that talent shortages have the potential to impact a company’s plan for growth and customer satisfaction, it is vital that you don’t sit on your laurels.
What can you do?
There are several ideas that you can use to put your organisation in a better position to attract and retain the best employees:
- Pay reviews - Offering a competitive salary and conducting regular pay reviews, not only ensures that you can compete with other organisations in the market. It also shows that you value your existing employees. Pay reviews have also received a lot of press attention as many large organisations release their gender pay gap reporting. So it’s even more important that you keep abreast of this.
- Improve working conditions - Taking steps to improve your company’s workplace culture can promote a better work/life balance, which will lead to higher employee engagement. It can also improve employee wellbeing which will have a positive effect on your productivity.
- Offer enhanced employee benefits - Pay alone can have a limited effect on employee satisfaction, so consider the employee benefits that you offer. Benefits that your employees will value highly don’t necessarily have to break the budget. You could even try some alternative ‘out of the box’ benefits.
- Communicate regularly with your staff - If you’ve taken the time to review and implement better working conditions and benefits for your staff, it’s vital that you tell them what is available and how they can access it. Research has shown that firms with engaged employees enjoy 87% less staff turnover2, so why wouldn’t you make employee engagement a priority?
Make sure you’re in the right position to prevent a shortfall in skills and take advantage of opportunities in the future.
Need help or advice? Speak to our experts today.
1Manpower Group 2016-17 Talent Shortage Survey