Create a Happier Workforce: How To Retain & Recruit in the Right Way
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Retaining and recruiting staff in today’s highly competitive job market is challenging for many business owners. Many SMEs understand that their workforce is a potent asset—with the right people in place, it can transform your business and boost your bottom line. However, with around 30% of new hires still looking for their ideal job role, the bar has been set even higher for businesses to find and keep the right employees. To navigate these challenges effectively, understanding omniployment and its effects can be as critical as managing your finances.
So if you are wondering how to recruit & retain the right staff in the first instance, read on.
Hiring the Right Person - From the Beginning
As a business owner, you will have a vision for your business goals and have strategies in place to meet them. You want to attract innovative people with a diverse background, driving your business forward with the latest learning so that your team can benefit from their knowledge & skills. You envision your company as having a culture of belonging, inspiration & a shared sense of purpose.
To achieve this, it is important to put into place a framework that encourages your staff not to just turn up for work, but also be committed and loyal employees. By investing in your staff, valuing their contributions and designing a work/life balance that considers their commitments outside of work, you are integrating elements into a business strategy that can transform your business into a thriving, dynamic place that attracts people to apply for job roles.
Opportunities for career development and the overarching company culture play pivotal roles in an employee's decision to stay or go.
Recruiting Staff
How do you attract new talent & stand out in the crowded job market?
The first interaction a potential recruit has with your company is the job advertisement. The adage ‘First Impressions Count’ is very relevant.
Does your opening statement convey the purpose, culture and overarching values of your company?
How do you describe what the company has to offer in the job advertisement?
Do you describe the benefits on offer that include hybrid working, flexibility and career development?
These are all factors that attract & motivate people to send in their CVs.
Even sectors that have traditionally been associated with rigid working patterns, like care, manufacturing and construction are now moving towards a more flexible approach to their workforce. They are adopting alternative shift lengths, and varied start and finish times, to bring in a wider range of applicants.
It's essential to select platforms that are not only relevant to your sector but also where your job advert will capture the most attention. Consider diversifying your approach to include:
- Local advertising - community-based groups & social media
- National job boards like Indeed for wider reach
- Professional networking sites like LinkedIn for a targeted demographic
- Specialised industry sites that cater specifically to your business niche
By strategically placing your job advertisements, you can increase visibility among the candidates you want, and enhance your chances of finding the perfect fit for the job role in your business.
Retaining Your Staff
Retaining the right staff in the correct job roles is crucial for business owners, as each time a staff member leaves, they take with them valuable knowledge, experience and the investment your company has made in their training. Retaining staff is, therefore, not just beneficial but essential for business continuity and growth.
This process starts from the very beginning – the recruitment phase.
The impression you make begins at this point. From the swiftness and nature of your responses, to ensuring that interviews are a positive experience, can set the tone for a potential new recruit’s journey within your company.
A meaningful induction from day one underscores the value placed on each individual. Incorporating clear job descriptions from the start, making proper introductions to other members of staff, providing comprehensive training and work plans, implementing buddy schemes, and holding regular check-ins for feedback are all steps critical in reinforcing a new employee's significance to the company.
Engaging with your workforce through various techniques helps in understanding their needs and ensuring they feel connected to your business goals and objectives, and they feel valued throughout. Engagement goes beyond simple job satisfaction. Having times of active communication, so that you can connect with your people, will help you find ways to build on existing successes together.
The Workforce is Changing.
There is a wonderful diversity within today’s workforce. It is both an essential and legal requirement to recognise this. Differences in gender, ethnicity, knowledge, skills, age & personal responsibilities mean that business owners must consider a broad range of needs and lifestyles. Retirement ages are extending and as our population ages, this means that around 30% of the workforce is likely to be aged 45 and above.
This group is confronting unique challenges, such as peri/menopause, which presents distinct issues for a substantial segment of the workforce. Businesses are encouraged to devise a thorough and appropriate support package, steering clear of trivialising approaches like one company's misguided attempt at creating a gimmick gift bag. Instead, it's crucial to implement proper training and support for employees navigating the often debilitating symptoms associated with menopause.
With the upcoming Flexible Working Act, which comes into effect in April 2024, companies need to act now to ensure compliance with the changes. A recent report found that 72% of over-50’s - the ‘sandwich generation’ - require a flexible/hybrid employment role to care for ageing parents and children.
Addressing these needs requires creating an ethical workplace culture where wellbeing is prioritised, and empathy is a foundational value. By doing so, SMEs can not only retain the right staff for the right roles but also foster a supportive and thriving work environment.
How Can You Retain Your Staff?
In the quest to retain the right staff for the right job roles, business owners can stem the flow of staff who are actively seeking work elsewhere by conducting "stay interviews."
These discussions serve as a strategic tool to gather feedback directly from employees about their work/life balance and overall wellbeing—two critical factors that profoundly affect engagement and workplace satisfaction. Businesses can assess and identify specific changes or improvements needed to enhance the work environment by asking staff for their insights and observations.
This proactive approach not only demonstrates a genuine commitment to employees welfare but also helps in crafting a more supportive and fulfilling workplace, thereby bolstering retention.
The Cost of Not Retaining the Right Staff
Your staff are invaluable to your business, and safeguarding their wellbeing while protecting your company's interests is key. When employees leave, not only do they take their valuable experience with them, it means that the remaining team members must work through a period of uncertainty and increased workload. This transition can be challenging as they shoulder additional responsibilities until a new hire is onboarded & fully functional. Hence, retaining your staff is not just beneficial for maintaining continuity and morale but is also often more cost-effective than the cycle of hiring and training new employees.
Focusing on retention strategies is essential for the long-term success and stability of your business.
Lack of employee retention can pose:
- Increased costs of recruitment and replacement
- Reduced productivity
- Lower performance
- Reduced customer/client service and satisfaction
- Increased staff time taken on Induction and Training
- Reduced staff morale
Good retention includes:
- Feedback & Engagement
- Recognition
- Fair pay
- Addressing disconnect
- Values & Purpose
- Talent Attraction
- Recruitment & Induction
- Culture & Communication
A Happy Workforce Is a Productive Workforce
Productivity is intrinsically linked to your workforce feeling valued & content. It’s inherent to human nature to seek a sense of belonging, and being integrated into a team builds on this idea. If your company fosters an environment where employees are fulfilled and respected, people are motivated to contribute their best.
If you want to future-proof your business, investing in your people through career development plans, using comprehensive training, and upskilling initiatives tailored to accommodate different demographics is important. These factors not only build upon individual strengths and a sense of purpose, it also opens the door for continual professional growth.
By providing a wide range of training options, you then allow for an influx of new recruitment at entry level whilst maintaining a robust, evolving team that grows with your business and is unified in your business goals and mission. This strategic approach not only secures your business's future but also builds a loyal, skilled workforce committed to achieving sustainable success.
The secret to recruiting and retaining staff lies in treating your employees as invaluable investments and crafting a work-life balance that keeps them dedicated and loyal.
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