Getting ahead in business depends on optimising many cross-cutting factors — from calculating demand to securing finance and differentiating from the competition. And even the most promising companies decline because they fail to attract and keep the best employees because of stifling bureaucracy, lack of development and autocratic leadership.
But some organisations get recruitment and retention right and manage to make staff feel fulfilled and motivated — while they benefit from their peak performance.
So here are some top tips from four smart firms.
Insecure organisations fear that significant investment in training is wasted when employees move on.
But Virgin boss Richard Branson believes employers should ‘train people well enough so they can leave, treat them well enough so they don’t want to.’ And according to Gallup, 87 per cent of millennials say development is important in a job. So continuing education provider Trilogy Education partners with reputable universities to upskill in areas like digital tech and public speaking.
By listening to the needs of employees and management, Trilogy develops bespoke programmes that meet business needs and unearth hidden talents that allow both parties to grow and diversify.
A strict nine to five working pattern suits some organisations — but for others, it’s an obsolete relic from the industrial revolution.
There’s no need for firms who don’t employ many customer-facing employees to impose traditional hours — quality can be maintained, and deadlines met, when staff work when it best suits them. So eyewear software startup Ditto allows staff to take time out to meet family commitments, choose their own schedule and work from home — provided allocated tasks are completed.
Ditto developed software that allows customers to try on glasses using phones or tablets without having to leave the house, so its flexi-working policy mirrors the convenience of its business offering.
Progressive companies will always try to attract and keep staff with competitive salaries. But there’s more than one way to offer employees financial security — a generous pension package being a prime example.
Bespoke pensions and benefits package providers Chancellor Financial design tailor-made products for firms of any size that ensure cost-effective peace of mind for staff.
When workers aren’t worried that comfortable retirements are compromised by inflation and reduced state pensions, they’re probably more likely to stick around longer and perform to the best of their abilities.
Proving that you care about staff throughout their lives inspires loyalty — so a positive pension provision is worthwhile.
Intelligent companies realise that work should fit in with family life, rather than the opposite — when workers feel that their company doesn’t respect their family commitments, they’re possibly more likely to leave.
But the concept of child-friendly employment is nothing new to outdoor clothing manufacturer Patagonia — they encourage breastfeeding mothers to bring their children to work, accompanied by a family member or a professional caregiver paid for by the firm.
The company has also had an in-house childcare centre at its California headquarters since 1983 — younger children are cared for while parents work, and older kids are dropped off after school by company buses.
When you calculate the cost of employees paying for these services themselves, it’s no wonder Patagonia’s established such an excellent reputation for staff retention. The corporate world sometimes feels cold and cut-throat — in this environment, some employers forget that earning a living should be regarded as a right rather than a privilege. But adopting recruitment and retention tactics from these four smart firms might mean your organisation survives and thrives in tandem with taking care of its most important resource — people.
What’s your company’s approach to recruitment and retention? Share your thoughts in the comments section.
Founder Dinis Guarda
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