As we pass the anniversary of the first lockdown, we’ve heard a lot of HR “experts” stating confidently that when it comes to recruitment, it’s an employers’ market out there. With 1.75m people unemployed last year, for the period between September and November, businesses have a huge range of talent to choose from.  

But we know it’s not that simple. Once you’ve recruited these outstanding people, how do you retain them, as the economy starts to recover? 

The Start of Recovery 

We were interested to read a recent survey from the CIPD, suggesting that more than half UK employers plan to recruit this year, and that the number of firms planning redundancies has dropped by 10%.  

Business has been given a shot in the arm by the Recovery Loan Scheme and other financial assistance in the Budget. As a result, we feel that as the economy revives, fierce competition for talent will resume, and businesses will need effective people retention strategies. Pressure on key staff has been intense, and once they feel less fearful of financial insecurity, they may start to consider more attractive employment options. 

Retention – Take a Multi-Faceted Approach 

Staff retention is about more than money, although a generous salary, financial benefits and promotion prospects will always attract talent. But other factors are key to ensuring that they stay. 

Communication 

A comprehensive communication plan is vital. Employee communication should include face to face meetings, as well as continuous communication between staff at all levels, non-threatening channels for employees to offer feedback and suggestions, staff surveys (if you conduct these, make sure the results are publicised to employees with details of any actions that are planned as a result of a survey) and other forms of internal communication such as email, newsletters, posters etc. 

Development 

Motivate staff by providing opportunities for personal and professional development and career progression. People have a natural desire to learn and grow - keep offering training and encourage knowledge-sharing between departments and roles. Even if you can’t offer a vertical promotion, you can provide your staff with experience of different aspects of your operation.  

Recognition and Reward 

Setting achievable goals and praising successes is an excellent motivator and boosts employee satisfaction. Writing to staff to thank them for work well done, publicising achievements both in internal communications and in your online presence, through blogs or case studies, these are all fantastic and low-cost ways to reward your staff.  

Don’t forget, your employees are the most powerful public relations tool you have - happy, motivated people transmit that authentic enthusiasm to clients and the general public. What’s unique about your company? What sets you apart, and what are your future plans? Most importantly, do your staff know about these things? Make sure they are clear about their role in your vision, and their value to you. 

Post-Pandemic Retention 

Right now, additional retention measures should be taken. Flexible working, working from home, health and safety best practice in work environments, these are all very attractive to people seeking employment or looking for a new opportunity as we start to emerge from lockdown.  

And don’t forget, many people have experienced mental health issues or other personal challenges during the past year, some may have childcare issues, concerns about safe commuting, or other reservations – a good employer will address all these things.  

Talk to Us 

With a nuanced approach, you can keep hold of your best people and support them to grow and develop as your business does. 

For expert advice on employee retention, get in touch with our team.