Attracting and retaining the best talent can be challenging, however, it is crucial for the success of an organisation. The many business benefits that employee retention can offer, such as improved employee morale, better company reputation, and increased productivity, make it worthwhile for an organisation to focus its efforts on developing an effective employee retention strategy.

In today’s candidate-driven market there are several hiring, onboarding, and career expectations that hiring managers are required to meet in order to appeal to the best talent and make them want to stay working for the organisation in the long term. This is the second blog of a two-part series that will explore some of the expectations that candidates have and provide some techniques that organisations can implement into their retention strategy to help them to attract and retain the best talent.

 

Diversity and inclusion:

Diversity and inclusion in the workplace can be defined as making a group of individuals, from a variety of backgrounds with different experiences, feel safe and accepted in expressing their individuality while at work. Organisations with a diverse and inclusive workforce are likely to be perceived as better employers, therefore, they attract a larger pool of candidates to their vacancies. In fact, a Glassdoor survey found that 76% of job seekers and employees report that a diverse workforce is an important factor when evaluating companies and job offers.

Additionally, an organisation with a diverse and inclusive workforce will likely make their employees feel valued for their unique contribution and individuality, so are more likely to work there for longer. Therefore, organisations should focus on creating a diverse and inclusive workplace culture by incorporating diversity into company policies and practices.

  

Management:

Effective management is vitally important for the retention of employees.

Some important qualities that define great management include:

  • Empathetic: A manager that shows that they genuinely care about each employees’ success and personal wellbeing can be the key to motivating, engaging, and retaining talent.
  • Empowering and motivating: Effective managers should help their team to feel motivated to produce their best work as well as make them supported, valued, and empowered.
  • Vision focussed: Successful managers translate the organisation’s visions into an actionable strategy for the team and they identify how each employees’ role contributes to the success of the organisation.
  • Fair treatment: Managers should treat each employee equally with respect and dignity. They build an inclusive team comprised of individuals from a variety of different backgrounds who feel accepted and valued.
  • Communicating: Managers should be transparent about the vision of the company through good communication, and they should encourage employees to provide feedback that managers listen to and act upon.

 

Provide flexible working arrangements:

The COVID-19 pandemic has increased the desire for more flexibility at work. Workplace flexibility encompasses a broad spectrum of work arrangements, ranging from employees having control over when they take breaks to full work from home programs. Flexibility in the workplace offers many benefits to employees and organisations as it can help employees to manage a work-life balance resulting in reduced stress, increased productivity, and improved health and wellbeing. Due to the many benefits that flexibility in the workplace offers, it is no surprise that it is highly regarded by candidates. A study conducted by ManpowerGroup solutions found that nearly 40% of candidates worldwide said schedule flexibility is one of their top three factors in career decisions. The author of the study wrote, “workplace flexibility as a talent management policy is no longer an option; it is an essential practice that enables organisations to attract and develop skilled talent.” Hence, employers should consider offering flexible working arrangements to attract and retain the best talent.

 

We have discussed just some of the ways that organisations can tackle the challenge of attracting and retaining the best talent. It is important for employers to stay up to date with candidates’ ever-changing expectations and work towards creating a safe working environment where everybody feels accepted in expressing their individuality. If you haven’t already, check out the first blog of this two-part series which explores 3 other ways that employers can work towards attracting and retaining the best talent.