What Leaders Need to Do NOW To Retain and Attract Staff by Following Business Trends
If you’re a leader or a business owner, you would most certainly be keeping up with the latest business and industry trends in order to keep your business competitive and successful. Whether you like it or not, the world is changing. That’s a fact and it’s important that all leaders stay updated with what’s happening in the business world on a daily basis. You can do this by checking the local news at the end of a working day, scrolling through social media, flipping through magazines or even by word-of-mouth.
For leaders and business owners with years of experience in their chosen fields, it can be extremely hard to embrace new and innovative ways to build their businesses. It can also be just as difficult for someone who is growing their business from the ground up to learn the tools of the trade, mostly because there is so much to do. But understanding the current trends can help you make it or break it when it comes to marketing your business to your customer base, running a successful business, or attaining and retaining skilled and experienced employees.
Embracing trends, like social media, good leadership qualities and current technology, will help to set you apart from other businesses. In fact, in 2019-20, 69% of businesses recorded using one or more information communications technologies. I can only imagine this will continue to grow in 2022. So don’t forget to brush up on your communications technology skills and devices.
More and more millennials are taking over the workforce, which means attracting and retaining employees is becoming more challenging for our leaders and the HR department. So, you need to reel them in, which means accepting the changes that come with these new staff members. They will want more work-life balance which means remote or part-time work, they will have new skills and experience, be more active on social media and they want their leaders or bosses to listen to what they have to say. The COVID-19 pandemic has changed what workers want from their employers, and with staff shortages everywhere, employees won’t stay if they don’t like the working conditions, environment or their leader/boss.
Here are some great figures and studies:
According to a survey conducted by the IBM Institute for Business Value:
- The forced shift to operating as a largely remote workforce has led to nearly 40 percent of respondents indicating they feel strongly that their employer should provide employee opt-in remote work options when returning to normal operations. And remote work appears to be growing on people, as more than 75 percent indicate they would like to continue to work remotely at least occasionally, while more than half – 54 percent – would like this to be their primary way of working.
A study in the Employee Engagement Series conducted by Kronos found:
- Employees who rate their work-life balance highly are 10% more likely to stay at their company.
- 95% of HR leaders admit employee burnout is sabotaging workforce retention.
LinkedIn’s 2018 Workforce Learning Report revealed:
- 93% of employees would stay at a company longer if it invested in their careers.
According to Business Australia:
- In August 2021, 36% of workers had an agreement to work flexible hours and 41% regularly worked from home. The move to more flexible working for workers is a trend that is expected to continue in 2022.
So, as leaders, how can we embrace the current business trends in order to attain or retain hardworking, skilled, experienced and dedicated staff.
1. Be empathetic and kind
It’s been a tough couple of years for both leaders and employees. These days, looking after your mental health and wellbeing has never been more important. Leaders need to realise that employees have things that are happening in their personal and professional lives. So, if you want to keep your staff, you must ensure that you are a kind and empathetic leader. Or your staff will leave, it’s as simple as that.
2. Be grateful
Be grateful for what your staff do and bring to your business through their valuable skills, talent and experience. Don’t forget to take the time out of your day to thank your staff or tell them that you appreciate the hard work they are putting in.
3. Be willing to promote learning
Employees these days are all about career development and learning new skills. Make sure to let your staff know that you are invested in their development at work and give them opportunities to learn further.
4. Set clear goals
Always be clear about your business direction and goals. Set clear weekly, fortnightly monthly, or yearly goals with your staff that you expect them to meet. Break the goals down into steps and track your progress along the way
Communication is essential when it comes to retaining staff. If you are a leader who is a bad communicator, you won’t build up a loyal employee base. Learning how to speak to your staff and get your message across will form a connection and motivate them.
6. Remote or hybrid work
Remote work is here to stay. But it doesn’t have to be a difficult transition, you just need to accept that some employees prefer a better work-life balance. Even if you just introduce a couple of days a week working from home, you will find that you have happier and more positive employees.
What’s the current business trend you’re following?
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.