Creative talent retention strategies are needed as employee satisfaction hits a two-year low

Creative talent retention strategies are needed as employee satisfaction hits a two-year low

We have seen unique changes in the business landscape over the last decade. New methods of working, as well as flatter organisational structures now mean that traditional career paths are quickly becoming out-of-date. 

Even though many workers see the changes as a positive, it has also left employees unclear about their development in terms of reaching the next rung of the career ladder.

The need to address such issues has been heightened as a result of UK job satisfaction now being at a two-year low, forcing employers to seriously consider how they provide a positive environment in which to work.

Ensuring employees feel valued and understood is among the key factors in such thinking.

Problems not solved by pay

Despite pay obviously playing a significant role in employee satisfaction, it is no longer a sure-fire solution to overcoming talent retention troubles.

Often, the use of larger salaries and bonuses in an attempt to retain talent is actually indicative of larger scale problems within companies.

Such problems and frustrations often concern a lack of development opportunities, or difficulties in the working environment, requiring this need to ‘handcuff’ employees to organisations.

Create a culture of choice

Employees will rarely want to work for an old-fashioned company.  They wish to work in a lively environment where they can make a real difference. An environment where they actually want to be all week.

Flexible working is universally considered to be one of the most important factors in an organisation’s culture, while such amenities as games rooms and free vending machines are also popular, especially among gen-y employees.

Such options offer flexibility and ease to employees, whilst also presenting the business as forward thinking and eager to embrace new technologies.

Personal touch

The relationship between employee and employer has changed significantly over recent times.  Although workers still expect to work for a company, they now also expect it to work for them.

Individual interests and requirements must be taken into consideration by employers when tailoring personal rewards for employees. Segmenting workforces and targeting benefits are key methods of achieving such changes.

Using stereotyping to segment employee groups should be avoided at all costs but a great starting point is analysis of employee demographics, and allowing a choice between options.

For instance, workers in their 40s and 50s are more likely to value an eldercare care scheme to look after elderly parents. Millennials, on the other hand, would probably prefer a free Friday drinks hour.

Creativity in Communication

Often staff members will underestimate the value of their benefits. As a result, it is vital that employers become more vocal about what it is that they offer.

More effective communication around such a topic can help differentiate them in today’s competitive employment market.

Furthermore, for maximum impact, employers must think about their workforce in terms of communication consumption, and adapt methods accordingly.

Posters and newsletters may have worked ten years ago, however now tools such as webinars, apps and enterprise social networks can all be utilised in order to provide employees with a better understanding of their benefits.

You will be surprised just how appreciated employees feel at such measures being taken.

Prioritise praise

When used correctly, praise can be the most efficient, and inexpensive, form of motivation for employees. Its effect is significant on both a team and individual level.

Giving regular, informal praise, rather than waiting for formal reviews, can be an effective measure to thank employees for their hard work.

Events such as team nights out are the perfect tool in order to thank them for a job well done. These tools are also great when demonstrating a culture of recognition to prospective employees.

The world of work is changing drastically. With jobs for life no longer existing, it is naive to believe that fairly rewarded employees will never look for pastures new.

However, with the average employee tenure decreasing, it is now more important than ever to ensure that employees receive the most from employers while still with the company.

Improving employee satisfaction as well as enhancing the overall culture within a business can be achieved by providing benefit packages that make workers feel appreciated and understood.

You never know, maybe staff will even stick around for a little longer too.

We’d love to hear what talent retention methods have worked for you. Share your experiences and thoughts with us in the comments box below.

1 Comment

  • Anonymous

    July 25, 2016

    The most effective talent retention strategy is hiring the right people.

    If we wait until a new hire starts work before we address retention, then we have waited too long.