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Four Ways to Retain Top Talent in 2018

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Jennifer Davies from Captured HR Consultancy explains why a focus on wellbeing and flexible working will be key to retaining staff this year.

Similar in nature to the shift from customer service to customer experience, 2018 should start to see a shift from Employee Engagement to the Employee Experience. Employees now expect a more engaging work experience and those that want to retain their top talent will need to demonstrate that they are looking at the overall experience of employees and the culture of the organisation, which is more encompassing than just “engagement”.

Some key areas you will see this being demonstrated through are:

 

1. Increased focus on health & wellbeing

One element of the employee experience is the implementation of workplace wellbeing programs, which cover everything from flexible hours to fitness programs. These are proving to be worth the time and money. Identifying health & wellness as a key organisational priority means that employees feel that they are valued as individuals and are recognised as being more than just an employee – they are living, breathing human beings with a life outside of work.

 

2. A greater reliance on contractors and short term workers rather than employees or permanent workers

The ‘Gig Economy’ has been defined by the BBC as being “a labour market characterised by the prevalence of short-term contracts or freelance work, as opposed to permanent jobs”. This creates a more fluid working environment where people no longer have ‘lifelong’ positions within companies and instead work for multiple companies over the span of their lifetimes. This allows for greater transfer of knowledge across companies and industries but also requires a much more flexible workforce. The variety and speed of change will appeal to Millennials but maybe not so much to Generation X or Baby Boomers who have known more stability in their working lives.

 

Continually assess the culture of your company, ensuring that the goals of the company are not solely focused on financial reward

 

3. Working from home & flexible work schedules

Research has shown that the volume of employees who work remotely has risen significantly over the last 5 years. Millennials now make up the largest generational share of the workforce, and work-life flexibility is a priority for this demographic. Having flexible work provisions will drive a company’s employer value proposition, expand the candidate talent pool and is a great way of retaining highly valued employees. Even offering part time remote working will be a key attraction to many employees.

 

4. Workplace Culture

Companies need to recognise that employee’s now see their working life as “more than just a job”. They are looking to their job to provide a sense of purpose and a sense of meaning and that this is very important to ensuring a high level of personal wellbeing. Continually assess the culture of your company, ensuring that the goals of the company or focus is not solely on financial reward.

 

About Jennifer Davies

Jennifer Davies is a HR Consultant, Career Coach & Owner of Captured HR Consultancy based in Cork, Ireland.

For more information on her services visit www.CapturedHR.ie  

Captured HR Consultancy

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