What Are You Doing To Keep Your Staff?

We’re coming out the other side of a recession but the 1st question I like to ask every employer is what are you doing to keep your staff?

During the recession the Oracle job market turned from a candidate driven market to a job led market, this gave the employer power and inadvertently  a lot of employers took their eye of the ball in an effort to reduce costs and stay competitive they handed out redundancies, froze pay, withdrew bonuses, increased hours, took away benefits which has now left a feeling of discontent among employees who have not forgotten what has happened in the past 18 months and now have their eye on the job market.

37% of IT professionals have admitted that once the recession is over they will be seeking a move, so what are current employers doing to make sure that when the recession is over that they will be able to keep hold of their staff?

Key employee retention is critical to the long term health and success of every business. Organisations know that by retaining their best employees ensures customer satisfaction, increased sales, increased morale, knowledge retention and effective succession planning. However why do employers historically put attracting new staff ahead of retaining their best staff?

By retaining your employees you cut costs via less time invested in training new staff, save money in recruitment costs in attracting replacements and save money via unquantifiable costs such as the knowledge gap left behind and the low morale left when close colleagues leave an organisation.

Also if your company has a reputation that they do not look after their best staff, word will spread quickly in the market place which will make finding a replacement altogether more difficult.

I have personally recruited for companies who have had a bad reputation of not looking after their staff or being (un)professionally rigid when dealing with employee issues that arise. The result is people talk and the word spreads to the point where everyone has heard a story about that company’s culture and then potential employees are no longer interested in working for them. To tell you recruiting for companies like them are a nightmare and to be honest why would I want to offer a candidate an opportunity in a company I know treats their staff poorly?

Top 3 Reasons why Employees leave

  1. 53% seek a better salary and benefits package (Money)
  2. 35% are unsatisfied with the opportunities for Career Progression
  3. 32% are seeking a new experience (Challenge)

So are you going to do to keep them?

Companies have to think long-term when it comes to retaining their employers and this has to be embedded in their organisational culture.

Employer Brand – Building and maintaining your corporate brand  what does your company look like from the outside? This makes sure you are hiring the right staff the first place.

Offering Competitive Salary Packages – Do not wait for an employee to get disgruntled and leave them with no option but to go to the job market before giving them their worth via a counter-offer. By this stage its usually  too late, the relationship has already been strained.

Communicate Goals –  Keep your staff informed and avoid a situation of circles within circles. Internal communication is paramount to a happy workforce.

Corporate Identity –  Have a company ethos and celebrate its unique culture and identity. This is one of the areas which makes your company different, so why be like the rest?

Fun –  Is working for your organisation fun? We all know it’s about bottom line at the end of the day but how you get there is the difference, a happy worker is a more productive and more enthusiastic worker. What is the average working day culture like in your organisation?

Involve in Decisions – Are your employees involved in the decision making process at your company or they simply told what is happening? By involving employees in the decision making process that can affect their jobs or the overall direction of the company gives your staff a sense of empowerment and belonging.

Respect – Don’t treat your staff like kids unless you want them to behave like kids. Respect should be mutual and makes for a professional working environment.

Balance Work and Life – We’re in the teenies, the invention of the internet gives us all the opportunity to work from home and/or benefit from flexible hours if your business model allows it. Give staff the option to work remotely this also shows your employees that you trust them to work at home and along with responsibility is an attribute that makes employees more loyal.

Recognise Performance –  If you don’t reward excellent performance, then excellent performers will go to an organisation to where they are recognised.

Clear Progression – Offer opportunities for career and education development, packages such as study days, compensation, advice. Also offer the chance for cross training into other areas of the business. People like to know that they have room for career movement.

Bonus potential – Lucrative bonus structures calculated by combining individual targets, department targets and corporate profits and make it limitless within company parameters.

Manage time –  It’s necessary to work long hours sometimes to reach important deadlines however make sure long hours are not embedded in your organisation culture. Sometimes an employee can feel emotionally forced to work long hours because everyone else is.

So what are you doing to keep your best staff, because if you’re not doing it your competitors will be!!

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Origin Forward Solutions is leading Oracle recruitment company. We resource Oracle ERP and Oracle Business Intelligence professionals for projects across the world. This blog is to give an insight into the recruitment world, the oracle market and any other factor that impacts the prior. Enjoy reading the blog and don't be shy to leave comments

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