Looking to improve your employee retention? Here are x5 ideas to help!
How can businesses retain their employees if they can’t offer a pay increase? We work with candidates everyday and based on feedback, we have put together a list of ways in which your business can attract and retain the right people, without needing to offer a pay-rise.
1. Flexible working hours
It's not all about money! In today's world, the workforce want to be flexible and have the option to make their career work around their lifestyle. The ability to have flexi-time where hours can be worked on a sliding scale is very appealing to candidates. Perhaps they can squeeze 40 hours into 4 days instead of spread out over 5 days? Or maybe they can choose to start and finish at different times each day, as long as they make up the hours.
2. Birthday leave
Giving employees their birthdays off is a very popular business initative in today's workplace! An extra day to spend with loved ones or head away for a weekend is an added bonus to an employment package.
3. Additional annual leave
20 working days or 4 weeks annual leave is standard in New Zealand. Imaging if a candidate was choosing between a role with your brand and a competitors brand, but you were offering 5 weeks annual leave instead of 4 weeks? Demonstrating that you value a work / life balance and are happy to support your team with additional leave counts for a lot when candidates are considering their employment choices.
4. Incentives & prizes
Having a clothing voucher or brand "money" is a great way to incentivise and reward team members! A travel voucher or a trip away is one of the top incentives for retail store managers!
5. Professional development
Investing education or training in your team makes them feel empowered. looked after and proud of the company they work for. If someone is being provided the tools to develop and enhance their career, they are less likely to get itchy feet and look around for new opportunities.