Professional March 2019

Feature insight - winning the war for talent

can be really tough to attract the talent you need. But that should never mean you choose the best of the worst. It will only cause a bigger headache down the line. If you’re struggling to fill a key role, take a step back. Think about how you could reorganise your search. Or reach out to talent partners and suppliers to help you cast your net a little further.” Many recruiters will assume money is the decisive factor. Obviously, offering a competitive salary is essential. And in terms of added extras, the power of pound sterling cannot be completely discounted. According to a survey of 1,096 UK employees carried out by incentives provider One4allRewards, HR bosses who give out bonuses are less likely to see staff being poached or looking elsewhere. Some 58% of workers in the sector said having received a bonus or gift from their boss recently would prevent them from looking for a new job. However, money alone is not the silver bullet that many employers believe it to be. Fleming says: “Employers should be aware that wages are not the only answer – as for in-demand employees, marginal salary gains may not be what they most desire. We’ve seen wider benefits packages, which include flexible working and a good culture often win over a simple increase in salary.” Adding weight to this view, having the chance to develop and ‘put my talents to good use’ was among the top five things that employees in the UK value most in life in a study by personal development and soft skills e-learning organisation GoodHabitz. “Life is a learning adventure and talented people love learning” says Stephen Humphreys, country director, UK & Ireland at GoodHabitz. He adds: “Given that the UK’s workforce is one of the most highly educated in Europe, it’s not surprising that people place such a premium on being given the chance to develop themselves over money,” The chance of career progression is also a key factor, especially among the graduate workforce looking to put learning and hard work at university into practice. Chris Parnham, managing director at Absolute Corporate Events, says: “Creating a culture of training and opportunity has, in my experience, encouraged our young hires to stay.

Young people are not ignorant to the fact that they need training. University certainly develops social skills and perhaps even public speaking, but the academic subject matter learnt is rarely applicable to the demands of their ‘adult job’. ...culture and ethics are also significant factors in breeding employee engagement and retaining talent... “Therefore, having a clearly defined and invigorated training and promotion scheme can be a valuable asset to employers of young people. Exercise training to develop your staff, offer promotions to incentivise this training and sustain the access to further promotions as a form of intrinsic motivation.” Reaffirming that money is not the be-all and end-all, Parnham adds: “Promotions don’t have to be based on an increased salary either. Far too often this is seen as the only means of keeping young people.” Regardless of the opportunities of a certain role, Bradley emphasises the importance of setting realistic expectations among candidates. “It’s easy to ‘sell’ the best parts of a job during the recruitment process and

overlook the reality and challenges of a role,” he says, adding that “Any candidate needs to have a clear understanding of what a new role entails and the expectations that will be placed on them before they make a decision. There is nothing more disappointing than walking in on your first day to find a job that bears little resemblance to the role you expected. It can see highly skilled talent disappear, fast.” The onboarding process is also key to retaining talent once it’s been identified and hired. Bradley says: “You have found an amazing candidate, someone who has the skills and values to be a great asset to your business. And they have accepted your offer. Make sure you don’t pat yourself on the back at this point and walk away. “To retain talent in the long-term you need to create a clear and welcoming onboarding process that helps new starters feel like part of the team. Never throw a new hire into the fray without support and guidance. It can leave them isolated and highly susceptible to looking elsewhere.” Rewarding workers and showing your appreciation for their endeavours is also essential to retaining talent. Robert Ordever, managing director of workplace culture organisation OC Tanner Europe, says: “By recognising staff for ongoing effort, rewarding their results and celebrating their careers in ways that are genuine and meaningful are vital for creating happy and engaging working environments.” While a competitive benefits package is instrumental when it comes to making

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Issue 48 | March 2019

| Professional in Payroll, Pensions and Reward |

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