Attracting and Retaining Top Talent
Since the pandemic millions of people have left their jobs and a recent PwC survey indicates the ‘Great Resignation’ is still alive and kicking in the UK, albeit for different reasons from the ones that led to it beginning.
With inflation having risen at a much faster rate than wages over the past 18 months and economic conditions remaining uncertain, in addition to offering a competitive salary, employers need to remain alert and be flexible in their approach to engaging and retaining staff. Here’s some insights into how.
Offer a competitive benefits package
A longstanding client of VWA offers 30 days holiday. Amongst other benefits, a generous holiday allowance above the market average has been a key benefit that has enabled them to retain staff. Other key benefits that employees value include a strong pension scheme (15% non-contributory is the most competitive seen in the market), medical and dental healthcare, life insurance, gym membership, wellness allowances and lunch allowances.
Embrace hybrid/flexible working
This has never been more of a focus since the pandemic. A recent LinkedIn poll carried out by VWA revealed that hybrid working is a must for 77% of people who took part. Hybrid working of 3/2 is in more demand than 4/1 and while some employees may choose to come into the office more than the minimum required, having this as a benefit allows employees to feel trusted, improves morale and overall work-life balance. Another longstanding client of VWA’s, alongside offering hybrid working, offers their employees 2 weeks of working from anywhere in August and December which further fosters a feeling of trust. If hybrid working isn’t an option then consider a compressed work week or flex-time.
Consider offering sabbaticals
Whether it’s 1,3,6 months or up to a year, sabbaticals offered to employees after a certain length of service can aid retention. It allows employees to focus on their personal goals, with the security of knowing they can return at the end of their time away. It gives the opportunity for employees to return recharged and with a renewed focus.
Provide regular check-ins
Providing more frequent one on one meetings with team members gives the opportunity to discuss short and longer-term goals, deliver feedback and enable employees to feel listened to and integrated.
Offer a training and development path
In addition to providing feedback, identify areas for professional growth and new skills. Offering a yearly training allowance demonstrates a commitment to employees’ long-term career prospects and can improve staff loyalty. If a size of an organisation allows, offering retraining of staff in alternative areas of the business can support with retention.
Foster a good workplace culture
Encourage communication, collaboration, equality, diversity and inclusion – all great examples of values that feed into a workplace culture. Often staff need to feel an organisation’s values align with their own and this can give them a sense of belonging.
Offer a robust onboarding and induction programme
This is a critical first step and can set the tone for an employee’s future time at the firm. In addition to the job and introductions to colleagues, the onboarding process should also include the culture of the company and how they can contribute to it.
Should you require any further information on the above or wish to discuss please don’t hesitate to contact a member of the team at firstname.lastname@example.org or call 020 7225 1888.
Get in touch
Get in touch to find out more about our vacancies, roles or how we can help bring the best talent to your business.