The world of work is not the same place that it was in early 2020. Furlough, redundancies and home working caused a massive shift – leading to many reconsidering their goals and career paths. In light of this, it is just not possible to keep practices as they were before the pandemic and expect your best talent to stick around.
With high numbers of job vacancies, competition for new employees is stronger than ever – making it ever more important to keep your employees happy. Here are some things you can do to increase your likelihood of retaining your staff for the long term.
Flexibility is vital as we move forward. This might not mean solely home-working (because not everyone will want this), but it will probably mean hybrid working and more flexibility in hours worked. Employees who know that they can do their job in a place and at a time that suits them will want to be trusted to do that. Trust is key here – this will make your employees feel valued.
With Generation Z entering the workforce, the benefits that your employees want may vary more than ever. Rather than continuing with a one-size-fits-all benefits package, consider allowing your employees to pick the benefits that they want. There are plenty of ways to gather feedback from your employees, and make sure that you do this regularly.
One of the simplest ways of making sure all of your employees are happy is by ensuring that management is good. Positive manager-employee relationships are vital – poor relationships have a huge affect on attrition rates. Make sure that your managers are fully trained, monitor those with a high attrition rate and get feedback regularly from employees on how they think their managers are doing.
The happiest employees are those who feel as though their work is rewarded and that they are a valued part of the team. If you don’t have one, a rewards programme is a good way of showing your employees how valued they are. It is important that this is a public programme – shout about the achievements to the whole company, or even on your social media.
With hybrid working in particular, it is easy for teams to become individual silos and this can lead to employees not feeling part of the wider company. Strategies such as whole-company meetings can help, but also consider the social offerings you have available and the opportunities employees have to chat on an informal basis to others across the company.
While vacancies remain high, companies are increasing wages to attract the talent they need. That makes it very easy for your best employees to change companies for a higher wage. Avoid this by keeping a pulse on market salaries and regularly reviewing your employees’ salaries. This is particularly relevant as the cost of living rises – you don’t want your employees to be paid less in real terms.
With expectations that jobseekers will remain in control throughout 2022, it is more important than ever to build a superb employee retention programme. The biggest takeaway from 2020 and 2021 was that employees want to feel fulfilled and valued – and that if they don’t, they will leave. Throughout 2022, keep your focus on your employees and ensure that lines of communication are open so that they can share their wants, needs and concerns.
If you are building your team and looking for the best tech talent, contact us today.
