Want to maximise your staff retention in 2024?
Start by asking yourself these questions...
- How many people in your team would tell their friends and family they have a good job in a good company?
- Do they feel listened to?
- Do they have the right training, support, or environment to do their best?
- Do they care about what they are doing?
Business leaders who hesitate with these questions are going to have a problem retaining people. Here are the top 5 candidate considerations across all the markets in which we recruit:
1. Flexible Work Arrangements
Offering flexible work options, such as remote work, flexible hours, or compressed workweeks, can contribute to employee satisfaction and work-life balance. In 2024, with the continued evolution of technology, remote work may have become even more prevalent, so it's essential to provide employees with the flexibility they need.
Consistent flexing throughout a persons career, allowing for all of life’s changes and challenges can deliver the highest levels of loyalty.
2. Career Development Opportunities
Invest in employee training and development programs to help them acquire new skills and advance their careers within the organisation. Providing a clear path for growth and advancement can significantly impact employee satisfaction and loyalty.
Providing support outside of work, acknowledges the employee as a complete individual, and can further increase satisfaction.
3. Competitive Compensation and Benefits
Ensure that your organisation's compensation packages are competitive within your industry. Regularly review and adjust salaries, offer attractive benefits, and consider additional perks that contribute to overall employee well being, examples could include health and well being benefits or volunteer days. Stay informed about industry standards and trends in compensation.
4. Recognition and Rewards Programs
Implement a robust employee recognition program to acknowledge and reward employees for their hard work and achievements. Recognition can take various forms, including verbal praise, awards, bonuses, or promotions. Publicly acknowledging employees for their contributions fosters a positive and motivating work environment.
5. Strong Organisational Culture
Cultivate a positive and inclusive organisational culture that aligns with the values and goals of your employees. Promote open communication, collaboration, and a sense of belonging. Regularly assess and refine your company culture to ensure it remains relevant and supportive.
In addition to these strategies, it's essential to regularly gather feedback from employees through surveys, one-on-one meetings, or other channels. This will help you understand their evolving needs and concerns, allowing you to tailor retention strategies accordingly.
Remember, the specific needs and preferences of your workforce may vary, so it's important to stay adaptable and responsive to changes in the work environment and employee expectations.
Three quick actions to improve things this week...
One, make sure your day to day working model matches your brand, your people, and your culture.
Two, protect people’s time and protect their ability to focus.
Three, how do you make sure people feel seen and heard?
Fifteen minutes a week, one to one, where they do most of the talking, is a good place to start.