With the high demand for skilled workers[1] and a competitive job market, many small to medium businesses will need help with recruiting and retaining employees. The key to a successful workforce lies in a double-pronged approach that incorporates both competitive compensation and benefits, as well as a positive and supportive work environment with opportunities for professional growth.
By promoting employee wellness and work-life balance, businesses can attract and retain the best employees. With regular training and professional development opportunities, employees can grow and develop their skills. A positive workplace culture that prioritises employee engagement and feedback supports long-term staff retention efforts.
Mary Blake, Head of Talent Acquisition at Peninsula commented, “The key to attracting and retaining top talent in 2023 is to be attuned to how your employees and candidates are thinking and feeling about work, and then acting on what’s most important to them. In the current macroeconomic environment, we’re in, employers cannot afford to miss this.”
“Employers that ensure their onboarding processes are designed and enhanced for new ways of working such as hybrid and/or remote work, will have an advantage when retaining talent from a well-being perspective.”
Mary further commented, “[2]If we were to closely examine the factors impacting employee retention in Australia and New Zealand; you would find the following: Firstly, employees needing a strong desire to believe in the company values. Secondly, being confident in their ability to accomplish their career goals. And lastly, having access to employee benefits that not only meet their immediate needs but are comparative to the current economic state. These factors alone are enough to provide insight into what’s driving career decisions, and the need to think beyond just the wages when it comes to talent attraction and retention.”
