Conclusion
In a job market where companies are fighting tooth and nail for top talent, businesses have their work cut out, and they can’t afford to be complacent about disaffection in the ranks. SMEs must do more to find out if their employees are happy and what they expect from them as employers and use this knowledge to form the starting point of a deeper relationship with employees. By understanding their expectations, employers can adapt and take actions to build relationships with their people that are based on much deeper–seated foundations, such as care, collaboration and respect. While doing this effectively requires a good deal of HR expertise that many SMEs simply don’t have and can’t afford, there are a few simple steps they can take to start developing a more loyal and productive workforce.
One of these simple steps is employee benefits – an important area where SMEs are lagging behind larger businesses. Benefits programmes must be employee–focused, taking into account the value and relevance of different benefits to employees of different ages and life stages, genders, and interests, from those who are primarily motivated by financial incentives to those who value flexibility and work–life balance, or training and professional development opportunities. Modern technology means many benefits can be easily implemented and managed without making unrealistic demands on the precious time of business owners or senior management. Benefits don’t have to be expensive for employers, and if well–conceived and executed, can generate a lot of value for businesses from improved staff satisfaction and productivity to increased appeal to prospective employees and reduced churn.
Whitepaper – The Engaged Employer 10
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