Beringer Tame Blog
Beringer Tame Blog
Part of being a great company is being able to attract the best talent. But once you've got them, how do you keep them?
A huge part of holding onto your best people is through having solid employee experience where everyone feels valued, rewarded and has the opportunity to grow and develop... otherwise you're just asking for their head to be turned!
In early 2021 the term 'The Great Resignation' was coined.
People were leaving their jobs in droves, no longer willing to put up with poor working conditions.
#purpose #communication #recognition
Employee turnover during this period was certainly higher than we'd seen in recent history. Changes within the tech sector and record numbers of start-ups offering new ways of working, alongside a huge increase in digital jobs, meant that the market was candidate-led.
There were plenty of jobs to choose from, and this led to high confidence, which in turn facilitated mass exits.
Whilst it's still a candidate market, filling roles in the current climate is harder than ever. 2022 is set to be a challenging year. High inflation and the rising cost of living is making many candidates jumpy and unwilling to move.... unless there's a good reason to do so!
There are still a multitude of jobs open, but candidates are more reluctant to move than they were even a few months ago.
Be the organisation that talent stays in.. and that others want to join!
As a recruiter, we obviously make money from filling great roles with the best candidates. However, losing talent is far more expensive than your average retainer fee.
You're losing skill, knowledge and relationships, as well as consistency in organisational leadership. This costs both time and money to rectify.
.. and it's far easier to hire into a great organisation than into one with a bad reputation!
It goes without saying that the more engaged your employees are, the less likely they are to look for a new role.
Give them purpose and the drive to deliver something special whilst paying (above) the market average and you'll be well on your way to holding on to your best performers.
It's important to note the importance of company culture and how toxic environments and leadership will negatively impact your business and your people - and therefore retention.
Good people will no longer stand by and tolerate bad behaviour.
The better your foundations, the better your organisation will perform.
You will not need to constantly rebuild your 'house', the structure will remain strong, connections formed and developed and teams will flourish.
Connectedness improves teamwork, trust, motivation, morale and productivity. Need we say more?
(Ali Spooner, Client Development)
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