Are you an Attractive Employer?
Government statistics tell us today that there are 1.29m open vacancies in the UK- reaching a 20-year high.
According to a study by life insurance firm Met Life conducted in 2021, 54% of employees were considering leaving their jobs in the next 18 months. That is now!
So- competing for skilled staff has never been harder. If we want to attract and retain the best people, we need to start thinking of ways to attract new staff. We need to be offering more to the ones we have too! So- we researched some ideas to see what you might be able to consider without too much cost to your business.
With pay increases difficult to afford for small businesses, a lot of research has gone into what else employees are looking for and a flexibility feature is the highest on their list of wants from their employer. It seems that although an increase in salary is undeniably attractive with the scary increases in our outgoings – flexibility features highest on list of wants.
It isn’t all about increasing salaries
Here are some ideas on how to attract staff and keep them happy:
- The introduction of genuine flexibility around hours worked, work from home and hybrid options will not only retain your existing talent but will ensure that you are making yourself a “go to employer” and more able to attract new staff too. We could take a leaf out of Dropbox’s Flexible Working Policy that meant that all staff could manage their own working hours as long as they were all available for the same 4 hours every weekday.
- “Buy back” holiday schemes are popular
- Unlimited holiday scheme is a daring option that is being adopted by more and more businesses.
- Schemes that help staff to save money, access to benefits portals that offer genuinely useful discounts on technology, mobile phones, local car parking, local restaurants to buy lunch from and car and bike leasing etc are becoming increasingly popular.
- Private health insurance that can be topped up and used for alternative therapies and non-traditional treatments are doing well too, particularly with the increased concern around health coming out of COVID.
- Shorter working week is an idea that has been adopted by some SMEs- where they provide skeleton staff cover on Fridays. There has been much debate for years over the benefits of a shorter working week and it appears more businesses are now willing to take the plunge, as the Covid 19 pandemic has shifted the global work model. Numerous studies have suggested that moving to a four-day week boosts productivity and workers’ wellbeing. This is a very attractive benefit for an Employer to offer to an Employee. Who does not love a long weekend!
- One of the most important things you can do for your employees is show them that they are valued members of the team – and recognising employee milestones is a wonderful way to do this. Allowing the employees to have a day off for their birthday, whilst receiving full pay, is a perk that not many companies offer but is appealing for a potential employee.