Ffion Owen, Employer Services Manager at Ingeus, provides tips on how Employers can help retain talent during a time when record numbers of people are leaving their jobs.
The UK is experiencing the highest resignation rate since 2009, prompted by a high number of vacancies and burnout caused by the pandemic - something which has recently been coined ‘The Great Resignation.’
This occurrence is causing major recruitment and retention challenges for employers. According to The HR Director, a third of UK workers are considering a career change in 2022 – a move which will have huge cost implications for employers. So,what can you do to retain staff?
The pandemic has prompted many of us to take a step back and re-evaluate our priorities, and lots of people have realised that they have been burning out at work and not putting enough focus into other areas of their life.
The HR Director also states 64% of employees said that achieving a good work-life balance was the main thing they wanted their employer to help them with.
Providing ways for your staff to achieve this could include offering remote and flexible working, regularly reviewing workloads, and encouraging breaks. You could even ask your employees directly what would help them achieve a good balance - having an open and transparent conversation with your employees will help break down any barriers or concerns.
Part of creating a culture that people want to stay in and ensuring your employees have a good work-life balance is by offering great perks, even if you’re a business that can’t afford to offer large financial benefits. Making sure that you offer benefits which alleviate stress and benefit your employee’s health and wellbeing is key, such as a competitive annual leave entitlement, parental leave and childcare options, private health and dental care and subsidised gym memberships.
Employees that feel valued by their employers are not only happier at work but also perform better.
Expressing gratitude to employees, rewarding hard work and providing opportunities for learning and development are just some of the ways to make your employees feel valued and in turn, make it less likely for them to look for other opportunities outside of your business. Recognition of employee performance is this way is even more important if your business is not able to offer extensive financial benefits.
Human connection is something that everyone missed during lockdowns, and with the pandemic creating a shift in the amount of people working from home, and some roles transitioning to become completely remote, fostering a collaborative culture where people feel part of a team can be difficult.
Encouraging open communication and the development of strong relationships where employees can offer their opinion, feel listened to and feel supported can help overcome this. Some of the things you can do include asking your team for feedback and input, setting regular catch-ups and organising team meetings or away days which will boost team morale.
The HR Director reports that in a study of 2,000 UK employees, 47% of employees said that the main thing that would encourage them to stay in their role would be a pay rise.
The level of open vacancies is currently the highest on record, so it’s important to regular review your employee’s salaries to ensure they’re in line with similar roles being advertised by competitors.
If you’re unable to increase your employee’s salaries, put more focus on our other recommendations which enable you to nurture a great culture. You could also look into benefits that help employees manage their budget or save money, such as Salary Finance options and high street discounts.
Ingeus offer t ailored recruitment and retention services for employers, including advice and consultancy, sourcing and selection, access to our pre-screened candidate database, and in-work support for successful candidates.
Best of all, our services are completely free! This is because our services are Government funded to help people gain the relevant skills to secure lasting, meaningful work. And because we take our recruitment process further than anyone else, including additional skills for work and qualifications, you’ll likely be able to find everything you’re looking for in a candidate when working with us!
If you’re an employer looking to recruit new talent or improve your retention, read more and get in touch with the team today.