How To ATTRACT and RETAIN Skilled Talent
Business owners and leaders have had to face many daunting challenges throughout the pandemic and lockdowns, from wondering whether their business would ever open its doors again to financial concerns. Now employers and leaders are facing an even bigger challenge, attracting and retaining skilled and experienced employees. It’s become even harder to dip into the job pool and many employers have had to resort to adopting and implementing new strategies in order to retain and attain employees into the future.
It can be hard to narrow down the exact reason why an employee has decided to leave your business. Maybe the pandemic has opened their eyes to other career paths, they might need a job that pays more, maintaining a good work/life balance might be at the top of their priorities or maybe (I know a lot of employers won’t want to hear this) they simply weren’t happy working for your company. There are so many different reasons why, that’s why it’s important to make sure you conduct exit interviews or even sit down with a leaving employee for a chat to see what the positives and negatives are working for your business.
It’s vital for leaders, employers and business owners to not only understand why employees are resigning, but to understand why people want to work for them. What keeps an employee attached to their workplace? The below figures have been taken from the August 2021 North America Talent Attraction and Retention Survey which has examined the reasons why employers are experiencing challenges in retaining and attracting employees.
· Nearly three in four employers (73%) are currently having difficulty attracting employees. That’s nearly triple the number (26%) who reported difficulty last year, and up from 56% during the first half of this year. Roughly the same percentage of employers (70%) expect the difficulty to persist in 2022.
· Retaining employees has also been challenging. Six in 10 respondents (61%) are having a hard time keeping workers, and a similar percentage expect the problem to continue into next year. Last year, only 15% of employers reported having difficulty retaining employees.
· Employers report that higher wage expectations are affecting the ability to attract and retain employees in all positions. Thirty percent of employers say they will now raise their salary increase budgets from earlier projections. Most are doing so due to tight labor market concerns (75%) and anticipated stronger financial results (41%).
According to a survey of 572 HR leaders in July 2021 by Gartner, Inc. 91% of HR leaders are increasingly concerned about employee turnover in the coming months. Another Gartner survey of 1,609 candidates between May and June 2021 found that nearly half of today’s applicants are considering at least two job offers simultaneously. So, how can we implement new and innovative ways to attract and retain experienced and skilled employees now and into the future?
1. Promote flexibility
So many employees and workers have worked from home for so long during the pandemic that they are used to working from home now. It’s now not unusual to work from home a couple of days a week or full-time. Working from home has its benefits including less money spent on transport, more work/life balance, less stress and more productivity. Even offering employees a couple of days working from home has its perks and is a great start to see if it’s a good fit for both yourself and the team member.
2. Offer great perks and company culture
Employees prefer working in a company or business that offers them perks (such as great wages, day off on their birthday and more) and a business with a healthy company culture. We spend so much of our lives at work so in order to manage stress and be mindful of mental health, leaders need to encourage and promote a healthy, safe, friendly and welcoming environment for all employees. By doing this, you will be more likely to retain and attract skilled employees.
3. Welcome and encourage feedback
Also known as communication. Your team members like being heard and to know that their voice matters, because it does. They are only human after all. Make sure you keep an open-door policy and let it be known that you welcome and encourage feedback from members of your team. By doing so you will be able to deal with any issues quickly, encourage teamwork, maintain a positive and healthy workplace environment and know what’s going on inside your business.
4. Invest in their career growth and career progression
Many employees don’t want to be stuck doing the same thing every day from 9am – 5pm, it gets old fast. Help them to become even more skilled and experienced in what they are doing by offering them training opportunities and ways to progress their career. A lack of advancement options and no clear career path is a major cause of people leaving their workplace because they don’t see themselves going anywhere.
5. Kindness and empathy
I know I speak a lot about kindness and empathy, but it’s an absolutely essential trait for leaders, bosses, business owners and employers to have, especially in this day and age. Kindness and empathy could be the difference between your team member leaving for a job where they feel more appreciated or staying because you’re a fantastic, kind, friendly and caring boss who truly appreciates everything they do and bring to the company. It’s well known that kindness and empathy make you feel better about yourself to.
How are you focusing on retaining and attaining your employees?
Email the team at email@example.com or firstname.lastname@example.org
By Sonia McDonald
Founder and Managing Director of Leadership HQ and McDonald Inc. Leadership coach, entrepreneur, CEO and author.
Sonia McDonald is changing the face of leadership across the globe. She believes we should lead with kindness and courage, from the heart, and is known for her mantra ‘Just Lead’. She leads by example in all these areas and through her transformational coaching, leadership training programs and cultural transformation for organisations and encourages others to do the same. Sonia has helped thousands of people on their leadership journey to become the best version of themselves and in turn, inspire and bring out the best in others.
Sonia is a founder and CEO of McDonald Inc., LeadershipHQ and Global Outstanding Leadership Awards and the newly launched Courage Conference. For more than 25 years, Sonia has been on the front lines of leadership and she is beyond committed to her mission around building a world of great leaders.
She has held leadership positions worldwide and through experience, research and study come to realise what it takes to be a truly great leader. She has been recognised by Richtopia as One of the Top 250 Influential Women across the Globe and Top 100 Australian Entrepreneurs.
Sonia has an ability to speak bravely and authentically about her own development as a leader, personal and career challenges in a way which resonates with her audience. She is a leading coach, an award-winning published author of newly released First Comes Courage, Leadership Attitude and Just Rock It! and has become an in-demand keynote speaker on leadership, kindness and courage.
Sonia has become recognised for her commentary around the topic of leadership, kindness, empathy and courage as well as building outstanding leadership across the Globe.