Tackling the Great Resignation in 2022
This year, retention and attract should be top of everyone employer’s priority list. Working closely with many businesses, we see what employer do right and where businesses can improve. With that in mind, a key pillar of any talent strategy is retention.
This year, we will be sharing many ideas on what you can do to ensure your company has the best-in-class talent strategy for 2022!
Every role you recruit in 2022 will be challenging. Almost every candidate will have multiple offers, with salaries increasing to meet demand.
Focusing on your internal culture, employee engagement and internal development will go a long way to retain the people you have in place, which is a very strong first step in supporting your growth in 2022.
How?
- Circulate a quarterly confidential employee engagement survey to gauge employee feedback and ensure you have a sense check on internal culture. You can even go one step further and look at accreditation with Great Place to Work. Lotus People just received our accreditation and it’s a straightforward and rewarding process
- Invest in learning and development – this doesn’t need to be big budget. There are free valuable courses available on LinkedIn Learning, HubSpot Academy and many more. Creating an environment focussed on employee growth and development which is led from the top can only have a positive impact on culture and on individuals.
- Create and communicate clear progression plans. The main reason candidates come to us when considering their next move is perceived lack of progression. The best businesses and leaders have ongoing conversations regarding progression in order for individuals to know what they are working towards and where they are heading in their career.
- Commit to regular 1 to 1s, face-to-face feedback and catch-ups to ensure a consistent flow of communication. Everyone is different – some people are extremely future-focused, others prefer to settle in a role and perfect it before moving on. Having a fixed time every week as a space for communication can mean that trust is built and ongoing conversations around job satisfaction and frustrations can happen.
- Build a strategy around internal mobility to give candidates the opportunity to move roles within the business. I have seen this in businesses of 12 and businesses of thousands – if you can retain good talent by progressing them into a different team, you don’t lose the IP that can only come with tenure. Our first ever Lotus People employee held five roles over four years before moving onto her next adventure. Be flexible and open to what this can look like for your business.
- Plan team social events and team bonding activities. This is a given and it’s an easy one but we are seeing this slip a lot given where we are at with the pandemic. Whether it’s remote or in person, ensure that your team have the opportunity to socialise, connect and come together. Again, budgets can vary but the value of in-person connection can make a huge difference in employee engagement.
- Place a focus on employee mental health and nurture a supportive culture. This could be number one on this list as it is perhaps one of the biggest shifts we’ve seen since the start of the pandemic. Candidates are making decisions about their next move based on employer values and how focused a leader or organisation is on its people. The BlackDog Institute offer free mental health training for employers and employees and those businesses which focus on treating valuing the work/ life blend, and managing in a holistic way, will stand out from the crowd.
To find out more about what you can to do position yourself for success this year, join our upcoming webinar on talent strategies for 2022; how to attract and retain your best people. Our co-founder, Sinead Connolly, will be joined by Kate Jolly from rapidly growing tech business, Employment Hero, and we’ll be speaking about the market and the changes we’re seeing from both an internal talent and external agency perspective.
Register today before slots run out by clicking here: Register now!
See you there!
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Do you want to get ahead of the curve in an ever-evolving landscape of recruitment? Join us for an exclusive webinar hosted by Lotus People this May 9th at 12:30 PM where we'll delve into the latest insights and strategies shaping the future of hiring in 2024. What to Expect: In this insightful webinar, our very own CEO and Co-founder Sinead Connolly, together with Lotus People Brisbane Director Sophie Thomas and Systems and Marketing Specialist Sarah Lunders , explore the following key topics: Strategies to Attract and Retain Talent: In today's fiercely competitive job market, finding and keeping top talent is more challenging than ever. We'll share proven strategies to not only attract but also retain top-tier talent, ensuring your organisation remains ahead of the curve. Understanding Evolving Candidate Drivers: What motivates candidates in 2024? Our in-depth market research reveals the shifting priorities and aspirations of today's job seekers, helping you tailor your recruitment approach to meet their needs effectively. Implementing Inclusive Hiring Practices: Diversity and inclusion are not just buzzwords—they're essential components of a thriving workplace. Learn how to cultivate an inclusive culture within your organisation and implement hiring practices that foster diversity, equity, and belonging. Leveraging AI and Emerging Technologies: The future of recruitment is intertwined with technology. Discover how artificial intelligence and other emerging technologies can revolutionise your hiring process, boosting productivity, efficiency, and overall success. Gain invaluable insights, practical strategies, and actionable takeaways to navigate the complex landscape of recruitment in 2024. Whether you're a seasoned HR professional or a business leader looking to optimise your hiring processes, this webinar is your opportunity to stay informed and empowered. Register Now to Secure Your Spot: Don't miss out on this exclusive opportunity to gain a competitive edge in recruitment. Reserve your spot today to join us for Navigating 2024 Recruitment Trends. Register now to secure your spot by clicking the link below. We can't wait to see you there!
We were thrilled to partner with JobAdder for our latest event, aimed at empowering professionals within our network to tackle the challenges in 2024, head-on. We hosted our network of HR, Talent and Leadership professionals at the fabulous eSpaces in Brisbane. On the expert panel was Kate Drew (Arnold), Chief People Officer at Madison Group Enterprise; Graham Moody, Chief People Officer at JobAdder; Nicola Young, Head of People APAC and Japan at Cognizant; and moderated by our very own CEO and Co-Founder of Lotus People, Sinead Connolly. We were extremely grateful to have these industry experts share their knowledge and insights with the audience on several core topics shaping the current market. We’ve recapped the key insights shared by our panel below.
The employment market is continuously changing, so understanding the drivers and motivators influencing an employee or candidate is paramount for businesses striving to attract and retain talent. Recent findings from our market insights survey shed light on the shifting priorities shaping the current job market, showing results that vary from the top candidate drivers of 2023. According to our survey results, the top five drivers and motivators for employees and jobseekers in today's market are as follows: Compensation/Salary Package - 64.7% Company Culture and Values - 47% Professional Growth and Personal Development Opportunities - 45.1% Remote and Hybrid Working Policies - 39.8% Work-Life Balance - 38.7% What's particularly noteworthy is the subtle yet significant shift in priorities compared to the data from 2023. Whilst compensation has always been a key motivation for candidates, its importance has notably increased, emerging as the top priority for most employees and jobseekers. Equally significant is the emphasis placed on company culture and values, which have risen to become the second most influential factor driving employment decisions. This shift highlights the increasing importance individuals place on aligning with an organisation that shares their values, vision, and ethos. In today's competitive job market, candidates seek more than just a paycheck; they crave a sense of belonging and purpose within their workplace community. On the other hand, whilst remote and hybrid working policies remain important considerations, their ranking has slightly decreased compared to the previous year. This trend suggests that whilst flexibility in work arrangements remains desirable, it may no longer be the primary driving factor for many candidates, as we have long emerged from the days of pandemic. The findings from our market insights survey highlight a fundamental truth: the landscape of candidate and employee preferences is continually evolving. Employers must adapt their recruitment and retention strategies to align with these shifting priorities, placing greater emphasis on competitive compensation, fostering a positive company culture, and providing ample opportunities for professional growth and development. As businesses navigate the complexities of effective recruitment and employee management, understanding and responding to the evolving needs and desires of the market will be essential in attracting and retaining talent and fostering long-term organisational success. As we move forward in 2024, it's imperative for businesses to prioritise not only meeting but exceeding the expectations of their workforce, creating environments where individuals feel valued, supported, and empowered to thrive. By staying attuned to the evolving landscape of candidate drivers and motivators, organisations can position themselves as employers of choice in an increasingly competitive marketplace. If you’re interested in learning more about our survey findings, download a copy of our Market Insights report below!
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