We’re all hoping 2022 will mark the beginning of a less turbulent time for business and our communities. But when employees are looking for a fresh start in the new year, it can bring other challenges for business owners. Unemployment rates are currently a low 3.4 percent and there are whispers of ‘The Great Resignation’ hitting NZ shores. So, we’ve gathered the best tips to help you retain a strong team to make the most of the year ahead.
Keep wellbeing top of mind
Last year, wellbeing was in the spotlight, and we were constantly reminded to be kind. More recently, when different regions faced different restrictions, it was more difficult to remain unified about wellbeing. Even though business owners have incredible stress, your team members are likely to be facing their own challenges as a result of the pandemic. If you’ve reduced your team, there may also be additional pressure on those remaining.
If you put wellbeing supports in place during the first wave of Covid, check if any should be reviewed. Sometimes, little things can go a long way to changing someone’s outlook or sense they’re appreciated. Our blog on the benefits of Employee Assistance Programmes has more ideas to consider.
Be open-minded about remote working
Most people were excited to get out of lockdown and return to their workplaces, but don’t assume it’s the case for everyone. According to Bloomberg, 39% of people would consider quitting if they lost the option for some remote work. Among millennials and Gen Z, that figure sits even higher at 49%.
Taking time to ask about a person’s preference for remote work will help them feel valued, as long as you’re authentic about trying to find a solution that works for everyone. If you’ve navigated the stormy business environment of the last few years, then there’s no question you can be both creative and pragmatic when it’s needed!
Equity is more important than ever
Some groups have been more impacted than others in the pandemic, particularly women, so take care you’re not exacerbating inequality within your team; it can become a sticking point.
Transparency can show a fair approach, it can help employees understand a pathway for the future. Updating your job descriptions to reflect new remote conditions offers a good opportunity to add clarity on expectations and rewards.
Listen and be proactive
What’s better than a great exit interview? A ‘stay-terview!’ Rather than wait until people resign, try setting up a regular interview purely to talk about what would keep employees to stay and contribute their best. If people know this is part of your practice they’re also more likely to be open about any plans rather than starting another job search. Let
ting employees give you their ‘wish list’ doesn’t mean you need to deliver everything they hope for, but it can be a powerful way to open a conversation and spot persistent themes.
If someone does choose to leave your team, consider asking how they might have felt better supported; you may be able to use their insights to retain others.
Although hiring new people means an investment of time and money, it’s also an opportunity to bring fresh ideas and energy into your business. So, don’t despair if you lose a key player. Although keeping a core of long-serving staff may give you a sense of stability, today’s businesses need to be adaptable and innovative. Fresh perspectives are an asset. In fact, it’s one of the reasons why Business Mentors have such an impact!
Set your business up to make the most of a new year. Stay in touch with your team by prioritising wellbeing and having authentic conversations. If you do have some staff turn over, connect with a Business Mentor to ensure you reap the benefits of new talent. Click here to get started.