Recruitment, retention and motivation may be one of the biggest issues facing HR companies today. HR professionals believe that retaining their best employees will be one of the biggest challenges they face in 2022, according to a poll in November 2012 by the Society for Human Resource Management. Nearly 60% of respondents ranked this as their top 3 concerns, which is almost a 10% increase from 2010. It is likely that there will be an influx of people looking for jobs once the economy recovers, with the perception that the “grass is greener on the other side”. In periods of slow economic growth, employees will become more open to seeking out alternative employment options.
Employers must discover how to retain talent through social media, job postings, and even other traditional methods like job fairs and promotional mail. The new generation of employees are looking for jobs with a good work-life balance, and desire autonomy and the ability to make a difference within the organization, which are new criteria that some companies struggle to fulfil.
However, employers are also faced with an array of issues, such as a lack of technical skills which prevents companies from filling niche positions. Even during periods of high unemployment, companies find difficulty in employing workers with the required technical and technological know-how. Employers are also pressed for new talent and diversity in order to generate new ideas and talent that can help them build a sense of equality and generate higher productivity
Retention has become an increasingly complex issue, with companies trying to offer more benefits or incentives in order to encourage employees to stay, or to increase higher job security during tough economic times. Employers are advised to identify key employees from all levels, and take the required steps to retain these passionate and driven individuals. Employers should consider merit pay increases, projects that increase employee’s autonomy and other benefits like flexible time, telecommuting, or technologies to keep employees content.
Constructing a workplace with motivated and happy employees is an ongoing issue confronting HR professionals. Effing positive reinforcement and feedback to team members has become an ongoing initiative for HR. Company managers must enable and coach workers, allowing them to reach their full potential, benefitting both the company and the worker. There is a greater need to understand what motivates company employees and how to incorporate them into compensation or rewards systems. With Prime HR, you can leave these complex issues to us, while focusing on your business. Let us partner with you to sustainably grow your business and to resolve all your HR needs.