Branding is used as an important tool in the battle to attract talent but it is necessary for organisations to recognise that the organisation must match the branding identity in order to improve retention levels.
How to retain the talent continues to elude many companies, so in order to improve retention levels it really is necessary and worthwhile trying to understand exactly what employees want and need and to consider implementing measures to try to achieve these changing expectations. The great retention debate concerns whether money, and the financial package generally, continues to be the most influential factor. In fact, studies carried across Europe show that money is no longer the only motivating factor when employees decide to stay or leave an organisation. Rather, employees consider such factors as feeling unappreciated; feeling that there is no chance of advancement, no opportunities to train, learn or develop; feeling unconnected in terms of the organisation generally, or to managers and colleagues; supervision by a poor manager.
There are many things that organisations can do in order to improve retention levels and here are just a few examples:
• Consider whether you are hiring the right person for the job in the first place and remember to be honest with applicants about the job that you are filling.
• Consider whether it is possible for you to recruit from within, given that internal recruitment can have many positive results. It can prove to be a quicker and cheaper way to recruit, it can help to motivate the workforce, with the added advantage that, as an organisation, you are already familiar with the applicant and he is familiar with your business needs.
• Do ensure that your organisation offers training where appropriate and necessary and that you encourage professional development.
• Think about the benefits of satisfaction surveys, employee recognition schemes and team building but be ready to try to make the changes that your workforce believes to be important.
• Offer a competitive financial package.
• Have in place managers that are well equipped to deal with those under their supervision. Managers do need to be adequately trained as they are accountable for their actions. They need to be legally compliant and fluent with your organisation’s policies. What your managers do will reflect on your organisation.
• Have workplace policies as these can educate. They set out what the organisation expects from its employees and also what the law expects
Studies show that the workforce wants to feel connected to the organisation; they want to feel like it is possible for them to make a difference and that their efforts will be recognised; they want to have the opportunity to learn and develop; they want to be supported by a great manager; they want a work-life balance and flexibility. Employing talented people in the right role can increase productivity and the effectiveness of your organisation but this talent needs to enjoy their work, be appreciated and respected and have a sense of belonging. They also need to feel engaged and that their talents and strengths are utilised and further developed.
Work-life balance is increasingly important to today’s workforce and can be very important in the battle to both recruit and retain the best talent. This concept is all about giving your employees a choice about how they manage their work. Those organisations who have introduced work-life balance policies have found that their workforce is more content and satisfied and therefore more motivated. This has, in turn, resulted in low rates of absenteeism, increased productivity and measurably better recruitment and retention levels.