Its hard to believe the end of 2017 is racing towards us.
December – Advent Calendar time. And it’s the concept of preparation that strikes me today.
It seems as though a lot of changed during 2017 and that the pace of this change is getting ever faster. Yet some of the key issues we faced in 2017 haven’t actually gone away.
Finding and retaining good quality talent is just as relevant in the final few weeks of the year as it was at the beginning. In fact – if anything its more critical. The skills gap and shortage of tech talent is still there – It is time to listen to the rhetoric. In turbulent political and economic times it is challenging to find a way to plug the leak that is the high attrition rate amongst good staff. And yet when we break down what actually makes an employee stay – it would seem that Christmas is an excellent time to make a start on doing just that. Money is less important than you might think, (which is good in today’s climate!) and in the season of goodwill – it is easier to focus on giving – which for the most part is what contrbutes to an employee’s feelings of satisfaction at work.
So for today – in this festive season – let’s take a moment to review – to prepare – to make sure that 2018 truly does become the year that good people feel valued and appreciated at work.
Some key facts to consider:
IT professionals get twice as many recruitment mails than other professionals!
Contributing factors to employees leaving range from lack of career advancement to culture to lack of recognition. Money is a factor – but get the career aspiration loop right and recompense becomes a much smaller problem than you may think.
It costs your business about half an annual salary to find a replacement employee.
And those new employees are far less engaged and therefore more likely to move on faster which creates cultural uncertainty and higher stress in those remaining employees.
The bottom line is that there is very little point in having an excellent hiring strategy if you then forget all about the employee the minute they sign on the dotted line. Recruitment needs to come hand in hand with retention. And that strategy needs to fit your unique company culture. We know the talent is out there – but the competition is fierce. If your organisation won’t look after its key assets – someone else will!!
Have an optimal onboarding process
Promote your company culture
Develop Effective Leaders
Recognise and Reward
Train and Develop
Pay attention to top performers
Offer an attractive compensation package (think past purely salary here!)
Work – Life balance
Be honest about change
Foster good teamwork