How not to lose your staff to your competitors?

It seems that every week in the news we are hearing about staff shortages in the UK and when we speak to you about this many of you are confirming the same. So, how do you retain your staff.

According to the BBC the shortage has been aggravated by the fact that 400,000 people have left the labour market since the beginning of the pandemic. The percentage of “economically inactive” people in the UK has risen to 21.3%, the UK job vacancies soared to a record high of 1.24 million between October 2021 and December 2021 per the Office of National Statistics.

Looking after and keeping your existing team has never felt more important.

What can you do apart from giving pay rises? 

Research suggests that pay is not the only attraction to keep someone in the job they are doing. You really need to motivate and engage with your team. Ah yes you say but what does that mean?  What does motivation and engagement look like in real life?

There are common factors such as company policies, company values, training & career progressions, relationships with co-workers and bosses and flexible working which all contribute and play their part. Some things remain constant but the way we work is changing and what motivates each one of us has changed too.  Expectations of your current and future staff will also have changed.

We have spent time looking at our Values and Purpose.  It took us a while to get here and considerable effort and was it worth it? We think so.

Our Values and Purpose define who we are .  It drives how we want to work with each other and how we want to work with you.

We took a day out from work recently and had a firm wide team meeting where we revisited our Values and Purpose. The energy and engagement in the room that day was fantastic.  The challenge now is to continue with those energy levels when we are all working from home. But we are working on it. We are Serious About You and Your Ambitions.

Internally we are going to have one to one meetings with all of the team and have serious conversations about their ambitions and how we can help them achieve them.

Incidentally we are also looking to have serious conversations with you about your ambitions and how we can help you.

We are happy to share our experiences with you.  Take a look at our values .

Make now a good time to re-visit your values, your purpose.  Ask yourself why do you do what you do?

Time you spend looking at your core purpose and your values will tell you whether you are on your path to achievement

It will also make it clearer to your team what the business represents, where you are heading and where they fit in.  It gives them confidence and a sense of job security.

Regular discussions around this area will make sure that you all also LIVE your values, and everyone should start feeling part of your organisation.  What better way to feel wanted than when you are asked for your opinions and views?

What about other perks

Recently we looked at what employee benefits you can offer to increase your chances of recruitment and retention. If you need to refresh yourself again, have a read of this short blog best benefits to offer your employees

Perks or benefits help because it shows your employees that you are thinking of their needs.  Have you had a re-think around this area?

It may not be realistic for you to offer all the perks that we have mentioned but you can mix and match.  Start with something.

Having a “work from home” policy could be a good place to start.

Does remote working work?

One thing is for sure, the pandemic has made sure what was once a uncommon perk is now available at most places where working from home is possible.

In our working from home blog we looked how this can work for you.  What you need to put in place in the first place to make sure it is not set to fail.

If you are thinking that it does not work for my business, think again! Why will it not work for you? If your competitors are offering the flexibility to work from home, then you are already at a disadvantage if you are not already offering it to all your team.

Myers Clark have offered the “blended” working solution to provide a mix of working from home and in the office. Most people have chosen to work some of the time at home.

Most employees are looking for a practical flexible way of working to give them a good work/life balance.  Accommodate this and you will have engaged, happy staff.

We have only touched on the surface here when it comes to the subject of people retention.  We are not Human Resource experts, but we do know business and working with people is what we do.

With the growing scarcity in the labour market, you want to make sure you are doing everything right to attract the right talent for your business and once they are with you, you keep them. You should create an atmosphere at work where everyone’s voice is heard, and they feel valued and part of a team.  Get that team spirit going.

That way everyone is happy.

Challenges are part of life but with the right support and “can do “attitude they can be overcome. Call your normal director or manager at Myers Clark if you want to share your challenges.

If you are not yet working with us but would like to explore the idea visit get started with myers-clark