With the tables turning and clients now the becoming the candidates, business leaders need to focus on three things…job retention, culture and inclusion.
Pay rate is, and will always be, important overall. But studies show that current and emerging workforces are choosing new roles based upon an organisations approach to diversity and inclusion.
And as we mentioned in our last article, the number of people beginning new jobs in Q3 was at its highest in two decades. Around one million people left an old job to start a new one. So, if retention is NOT on your radar, you need to make it a priority, fast!
Today’s workforce expects more, especially when it comes to diversity and inclusion initiatives. Here at Omega, we’ve certainly seen a noticeable increase in candidates actively enquiring about this. In some cases in can be deal breaker for the most in-demand talent.
According to a recent piece of research which surveyed 2,000 teenagers alongside 2,000 workers, almost half of UK teenage girls have stated they would not work for an employer with a gender pay gap.
And staggeringly, whilst 48% of girls aged between 16 and 18 would rule out working for an organisation that has a gender pay gap against women, only 32% of boys see pay equality as a must.
Nonetheless, almost a third of teenage boys are defining where they want to work based on pay equality.
The younger generation is driving the future of employment, and any organisation which stays stuck in their old fashioned ways will almost certainly pay the price.
So, what can you do to address this?
You NEED a clear understanding of your workforce and a plan which includes measurable goals to work towards.
Here are 3 tops tips to get you started:
Treat people as individuals – Every person who works for you has a host of unique skills to share. And while we understand that there must be policies and procures in place, you must be flexible enough to retain talent by offering an adaptable role and a workplace culture which encourages this.
Commination is key – Listen to your workforce, ask them what they think, show them how valued they are, keep them involved in decisions and at the heart of everything you do. Don’t wait until their exit interview to tell them how much you need them to stay! Let’s be clear, this is not a case of inflating egos. Everyone deserves to feel valued in their job, and it’s key to retaining your talented workforce
Invest in your people – If your staff are being tempted by other forward-thinking organisations, invest time into transforming your company’s workplace culture and put in place a benefits package which they cannot leave behind.
If you’d like support with your company’s retention, advice on recruitment solutions, help filling positions on an interim basis or information about our bespoke Managed Services, please contact Omega today.