With more than 30 years of experience in the recruitment market, Amanda Coulson, CEO of SVC Solutions, shares her views on the current jobs market.
Finding and keeping the right people in your team is an essential part of any successful business story, but it’s no easy thing to achieve.
Over the last 30 years of working within the recruitment industry, there have always been challenges along the way, but I would have to say this is one of the most difficult times for businesses looking to make the right appointments and keep the staff they want to.
Even now, the impact of the Covid pandemic is heavily influencing the jobs market, as are other key factors such as Brexit and the Cost of Living crisis.
There is no question that candidates are demanding more from employees now than before the global pandemic. With the dramatic increase in flexible working, candidates are looking to define their own structures of work to fit their work/life balance.
Meanwhile rising inflation is driving demands for higher pay, which is not always compatible with businesses looking to manage budgets that are already coping with the fallout from the pandemic.
As a result of these influences on the recruitment market, it’s never been more important to retain the key players among your existing staff within your business. And contrary to popular belief, keeping your team together is about a lot more than just the rates of pay.
When people leave their job, they leave for a reason and that reason is rarely just about the money they take home each month. Money is only a small part of the motivation for an employee and there have been countless times I’ve seen staff awarded pay rises to persuade them to stay, but that turning out to be a very short-term fix.
Working with many hundreds of local employees from businesses across the region, SVC Solutions is able to build a detailed picture of the key motivations for people when they get out of bed and head into work each day.
Invariably, in the employee surveys we carry out for businesses or in our general conversations with staff members, the most common leading motivator for individuals is the opportunity for personal and career development. If a company invests in people, they are more likely to invest in the company, so the opportunity to be a part of something and to understand a career path that has a future is very important.
Another key aspect of employee retention is a clear identity for a company’s brand and culture. Employees want to have pride in the company they work for and they want to see that the company’s core values are consistent and transparent. Recruitment candidates seek out employers who show themselves to be focused on wellbeing and a flexible approach to working that allows for a healthy lifestyle.
Think about your team. Are their voices’ being heard? Are they being treated fairly? Do they have opportunity to build a career and develop? If the answers to these questions is yes, you are well on your way to building a committed and engaged team.