What do employees really consider when they're thinking of moving ship or what do those mums who are thinking of taking the plunge and getting back in the world look for? Is it just a matter of money? Would a top exec. stay in the same company because of an annual salary increase or are there other factors which might just take priority and influence the decision to stay or move on?
Let's focus on what bonuses, perks and features would make an employee decide to stay, call it quites or apply for a job opportunity your company may be offering. Let’s shine a light on what features attract the island’s top talent to your company because let’s face it, you want the cream of the crop to take your brand to extraordinary heights and you’re willing to bend over backwards to make sure that your top talent get comfy and sticks around.
Here are the six features which will make your company become a talent magnet.
In addition to deciding how they work, experts claim that employees also appreciate having a say over when they work ( flexible working ) and from where they work ( remote/ tele-working ). Realistically, incorporating flexible measures in your company culture is the main reason why your employees will keep close and not make a career move. Setting up a flexible leave policy, flexibility in both working day start and end time and designing a teleworking option that enables employees to work from home is the way to go. Now we understand that it often boils down to trust, however if you can’t trust your employees then you defenitely recruited the wrong team members and let's admit you’ve got an even bigger challenge, your brand will probably never grow as much as you hope.
Next on the list and complimentary to designing a flexible work structure, is autonomy. Giving your employee the freedom of how and where they work from can actually make them more productive and will increase their loyalty towards the company. Apply this to yourself for a second - when someone trusts you and shows complete faith in you then you give double of what you’d typically deliver, because you feel a sense of ownership, you want to succeed and you want to prove that you’re worthy of that trust. We want to be trusted because the majority of us find great satisfaction in our career and those of us who don’t should probably be looking to make a career move.
3. Measure by performance
The new generation of employees, millennials, want to be measured by their performance and not by their face-time hours at the office. Give your employee tasks, goals and deadlines and let her decide when and how best she feels she can get the job done - give her the freedom which is the key to motivation and she will not disappoint, actually the commitment and productivity will soar.
4. Open door policy
Understand the challenges your employees are facing at the workplace and/ or at home - be compassionate and listen to your team’s struggles and challenges because what they are going through, will have some sort of impact on their work performance. Having an open door policy goes a long way - first and foremost, knowledge is power, knowing what your employees are going through will give you the insight on what’s really going on in their head. Secondly being sensitive to what they are going through in their personal life will be highly appreciated and will in turn increase your employee’s brand loyalty and commitment. For instance, let’s say your employee’s child is unwell and resulting your employee needs to leave work early - don’t you think that forcing her to stay at the office won’t necessarily mean that her heart and mind are there? She’s clearly not 100% focused so why not let her go home early and give her the freedom to figure out how she’s going to reach her deadline? She’ll appreciate immensely and trust us, she’ll never consider moving ship.
5. Career growth
Show your employees that in your company, commitment and productivity are rewarded. Acknowledge their success and show them that their are trusted and valued. Incorporate career progress measures which are equal for all, invest in your team give them the 21st century skills which will help them become more efficient and let your employees grow. Allow them to take decisions and give them the responsibility that they desire. Your ability to spot their talent and help them to develop into leaders and continue to climb the career ladder within your company will mean that you’re not just their boss but you’re also their mentor.
Sure the financial package has always and certainly will always remain a key contributor to an employee's happiness. Finally we all have a family or financial responsibilities in our lives so of course, salaries, bonuses and benefits are important, but perhaps not in the way you might think. Daniel Pink, author of Drive: The Surprising Truth About What Motivates Us research says that what motivates employees has led him to one conclusion: "The best use of money as a motivator is to pay people enough to take the issue of money off the table." Your salary structure must be designed on performance, experience and qualifications and not gender or their personal life choices. Keep your employees happy, be one step ahead and surprise them with bonuses and they’ll automatically put their heart and soul in your company and not ever consider leaving.
So in a nutshell, It should come as no surprise, that the most successful businesses are the ones that work the hardest to please their employees. Given a choice, many workers will opt to work for a company for who offers them flexibility, feel trusted and motivated, are given the opportunity to advance and the chance to enjoy a healthy work-life balance. Especially true for women who want to work and who will definitely want to do that for a company they know they can still aspire to have children in the future without feeling fearful that it might impact their job security, earning power or their career advancement.
So the question is, are companies ready to give employees what they want in return for on-boarding superstar committed, experienced talent and increase of staff retention? Do enterprises large and small recognize that a happy employee cost their company less, and give their brand their desired edge in the long run? One thing is for sure, the companies that do are on their way to celebrating their success.