Waikato Business News August/September 2021
Waikato Business News has for a quarter of a century been the voice of the region’s business community, a business community with a very real commitment to innovation and an ethos of co-operation.
Waikato Business News has for a quarter of a century been the voice of the region’s business community, a business community with a very real commitment to innovation and an ethos of co-operation.
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14 WAIKATO BUSINESS NEWS <strong>August</strong>/<strong>September</strong> <strong>2021</strong><br />
HR AND RECRUITMENT<br />
Retain, retain, retain<br />
PEOPLE AND CULTURE<br />
> BY SENGA ALLEN<br />
Managing Director, Everest – All about people TM<br />
www.everestpeople.co.nz<br />
Every week I take a<br />
dozen calls from<br />
employers who are<br />
frustrated about losing their<br />
talent in this highly competitive<br />
market we’re sitting<br />
in right now. In some<br />
cases, we need turnover in<br />
our businesses but when it’s<br />
unplanned or even worse,<br />
unexpected, it can put your<br />
business in a risky position.<br />
We’ve been sharing a<br />
few tips and techniques with<br />
our clients, and I thought it<br />
would be great to also share<br />
some with our readers! First<br />
up – there will be some staff<br />
who will leave no matter<br />
what you do.<br />
If an employee has one<br />
foot out the door, chances<br />
are they have been thinking<br />
about leaving for a while<br />
and someone, something, or<br />
a better offer made that exit<br />
happen faster. Next, there<br />
are some staff are actively<br />
looking at their options; have<br />
been offered another job and<br />
quietly start a bidding war<br />
with their current employer.<br />
Look, I can’t tell you whether<br />
you should or shouldn’t play<br />
in that pit, but I would say, if<br />
they were worth more when<br />
employed by you, why didn’t<br />
you pay them more (if you<br />
could afford to?). Ask yourself<br />
at that very point, what<br />
could I have done differently<br />
and then go ahead and<br />
assess your team and find out<br />
whether you have flight risks<br />
anywhere else.<br />
Make sure your<br />
managers or anyone<br />
else in your team<br />
are not compelling<br />
great employees to<br />
leave. You’ve heard<br />
the expression I’m<br />
sure “people leave<br />
managers, not<br />
companies”<br />
My advice here is it isn’t<br />
always about money either.<br />
For a lot of people an extra<br />
$2-$5k extra a year will make<br />
a massive difference to their<br />
lifestyle, for others, not so<br />
much. For other people, extra<br />
leave to spend time with their<br />
kids in the school holidays is<br />
a huge retainer for them. An<br />
extra week’s leave costs you<br />
2% of their salary. Not huge,<br />
but highly rewarding for the<br />
employee. Some people want<br />
to start earlier, leave earlier,<br />
work from home on the odd<br />
occasion. Let’s face it folks<br />
– the “typical workday” of<br />
8-5pm Monday to Friday is<br />
fast becoming a dinosaur.<br />
Anymore lock downs and<br />
we’ll all be experts at working<br />
for home!<br />
Other great retention<br />
examples I’ve heard lately<br />
include community days off<br />
to go and work for a charity<br />
that needs it, duvet days (great<br />
for my mental health that’s<br />
for sure!), good old team celebrations<br />
when you get even<br />
the smallest wins, out of the<br />
box recognition (remember<br />
your extroverts love this and<br />
your introverts will love it<br />
– away from other people!)<br />
– by this I mean, just taking<br />
5-10 minutes to warmly and<br />
genuinely thanking someone<br />
for something they did<br />
well. Hello – I love that sort<br />
of praise and so do others!<br />
Mentoring programmes are<br />
taking off – this is a great<br />
way for an employee to feel<br />
truly supported in their development.<br />
Think about wellness<br />
offerings like stress management<br />
programmes, retirement<br />
planning, reimbursement for<br />
gym classes and other things<br />
you might consider providing<br />
to employees?<br />
Summing up I think we all<br />
need to take a good hard look<br />
at our current teams and take<br />
stock. Run a survey, get some<br />
data – how are people feeling,<br />
how engaged are they in your<br />
workplace? Are they considering<br />
another job right now<br />
(you can ask that question!),<br />
what would make them stay<br />
loyal to you (yep, you can ask<br />
that question too!)? Lastly,<br />
make sure your managers or<br />
anyone else in your team are<br />
not compelling great employees<br />
to leave. You’ve heard the<br />
expression I’m sure “people<br />
leave managers, not companies”.<br />
If you or someone else<br />
in your business is the catalyst<br />
for people leaving your<br />
organisation, now is the time<br />
to get some help!