With a candidate shortage causing concern for employers the country over, there has never been a more important time to make sure your existing employees have reason to remain loyal.
When candidates are in high demand and short supply, the battle for talent begins – and it’s not always limited to the active jobs market. From head-hunters to LinkedIn, there are plenty of ways to reach people who may not even be looking to jump ship. And if employee engagement is low, it makes for easy pickings.
In a recent Randstad survey of 6,000 candidates, we found that in the wake of Brexit and the fallout from Covid, loyalty is largely driven by the fear of the unknown. But that shouldn’t be why your people choose to stay with you.
How to increase employee engagement and nurture a loyal workforce
Looking for a new job might seem like a risky prospect in the current climate, but people aren’t always leaving because they want to; in some cases, they simply feel like they have no other choice. High levels of stress, poor work-life balance, and a lack of internal progression were all cited in our survey as reasons for leaving a role.
So, what can you do to prevent attrition, and help your workforce to feel happy and fulfilled?
According to our survey results, a competitive salary is still the top driver behind employees choosing to remain in their current role (21%); this is closely followed by a good work-life balance (17%), progression opportunities (16%), and job security (15%) – with training (12%), Covid safety measures (8%), and the opportunity for remote working (8%) trailing behind.
But that doesn’t mean those factors aren’t highly valued; if they’re acting as less of a draw for people, their current employer might just not be executing them effectively.
Appealing to new demands in a post-pandemic world
Of the 36% of our survey respondents that contracted Covid during the crisis, 28% didn't receive any support from their employer. People may be cautious to leave a stable position in favour of a new role, but employees will only take so much.
There also appears to be a distinct disconnect between employer and employee perception. The 2021 Randstad Employer Brand Research (REBR) report found that just “19% of employees globally perceive a strong alignment between what their employer says about itself and their experience working there…suggesting a loss of communication and gap in perception and awareness between employees and employers.”
If you want to keep hold of your people, it pays to understand how they’re feeling. Talk to them; hold one-to-ones; send out comms inviting feedback and suggestions – because your working environment is unique, and it’s incredibly important to create a culture that benefits everyone in it.
With employee wellbeing gaining prominence, and employers expected to take a more active role in supporting the mental health of their workforce, it can be extremely beneficial to circulate internal surveys that take a temperature check of current wellbeing levels, and pinpoint the areas where changes may need to be made.
But one thing is certain: now that people have had a taste of homeworking and experienced the benefits of a more flexible approach, the flame has been lit. People have always valued work-life balance, but they’ve not always been confident enough to demand it. In 2021, the status quo has shifted.
Employees also need to feel a sense of movement after a stationary 18 months, so don’t overlook the importance of career progression: a goal to works towards can help your people to feel motivated and engaged – and far more immune to the lure of your competitors.