How do we make the good ones stay?
As we all know, the recruitment process can be time-consuming, difficult and laborious. A company doesn’t want to be hiring because someone has moved on – again! They want to be hiring because their business is growing!
Retaining experienced and dedicated employees ensures continuity, fosters a strong company culture and attracts new talent.
Business owners need to recognise correlations between how they treat their staff and their staff retention.
If you keep having to rehire for the same roles, it’s probably because you’re not meeting the needs of your employees.
Here are some things to think about:
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- Are you providing a competitive salary?
You can make sure you’re offering a competitive salary by checking our salary guide here
- Are you providing a competitive salary?
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- Do your values align with your employees?
Are you demonstrating your values during your interview process and ensuring that the candidate resonates?
- Do your values align with your employees?
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- Are you creating equal opportunities and catering for those who have additional responsibilities?
Is everyone given what THEY need to succeed? / Is the ability to succeed increased for those who are disadvantaged so the outcome is more EQUAL for everyone?
- Are you creating equal opportunities and catering for those who have additional responsibilities?
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- Are you making enough space for your employees to feel heard?
Do you have opportunities for your employees to provide feedback or ideas? If so, do these ideas get implemented? Do you have evidence of this?
- Are you making enough space for your employees to feel heard?
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- Does your working structure offer a healthy work/life balance?
This could be having an open-door policy and providing a safe space for employees to speak to management about stress. It could also mean you provide a hybrid or flexible working structure.
- Does your working structure offer a healthy work/life balance?
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- Are you having exit interviews? (often the unsung hero in staff retention)
Are you learning from possible mistakes you’ve made in the past? Have employees left for the same reasons but nothing is being done to combat the issue?
- Are you having exit interviews? (often the unsung hero in staff retention)
If you’d like to have a more bespoke conversation about your company retention strategy, a consultant is on hand here.
So… what’s next?
Firms should prioritise staff retention. By investing in the well-being, growth, and job satisfaction of their employees, financial planning firms lay the groundwork for sustainable success. A content and dedicated workforce not only attracts top talent but also ensures a resilient and adaptable organisation.
If you’re looking to hire for longevity, find employees who will align with your values, bring fresh ideas and advocate for your firm then we can help. Speak to one of our consultants today.