INTERNATIONAL COAL NEWS

Retention strategy is key

EMPLOYERS need to revisit their retention strategy or risk losing staff to an improving job marke...

Claire Svircas

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“The downturn may have kept good people with an organisation, but now the job market has improved, unhappy staff will explore their options,” Regional Director of Hays Construction Simon Winfield said.

“While there are many cases of employers that maintained their focus on retention during the downturn in order to be ready for the economic reversal, there are others that pushed retention to the side.

“These employers now need to revisit their retention strategy, or risk losing staff to an improving job market.”

Winfield said if staff did decide to move on, employers should try make leaving a positive experience in order for the leavers to speak highly of an organisation even though they no longer work there.

“A company’s brand is affected as much by the people who leave as the people who are still employed,” he said

“Even something as simple to implement as an exit interview can have a very positive impact.”

Winfield pinpointed Hays’ top retention tips which he said could be universally expanded to any company.

Work-life balance: “If longer hours have become the norm in your workplace, cut them back if you can,” Winfield said.

“If workloads are no longer manageable in the standard working day, it might be time to find extra help – consider using a temporary resource to boost resources short term. You only pay for the time worked and the team will definitely appreciate the extra support.”

Recognition: Winfield said for most companies, salary increases or bonuses were not an option this year, but that shouldn’t stop a company recognising the input of staff.

“Give staff positive feedback and praise. Internal recognition for a job well done can go a long way,” he said.

Development: “Training and development doesn’t necessarily mean formal courses, although it can. One-on-one training and mentorships in the workplace can be just as effective.”

Communication: Winfield said the communication of strategic action plans can boost confidence and morale among employees.

“Make sure communication flows both ways and allow employees to communicate back to you. This can be as simple as a staff satisfaction survey,” he said.

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