Set Yourself Up for Success in 2023
What an interesting year in review we have had, as we now work toward making the most we can out of this financial year. So many negative comments are being made about the labor market and how difficult it is to attract and retain top talent. The discussion has moved a little as employers realize that in order to have a highly achieving team capable of producing above industry average results it’s not just about hiring new skills but very much about retaining the intellectual capability currently employed within their companies.
If your attempts to attract new staff have not been working and your attrition is higher than you would like, are you going to continue with your existing strategies regarding your workforce and its management?
If the answer is yes then you need to prepare yourself for disappointment, less than satisfactory commercial outcomes and most likely, if you are part of the leadership team, the likelihood that you may be “on the market” soon.
You must constantly review market conditions to ensure your offer to existing and new employees remains attractive and competitive. This is the time to critically review what it is you do provide and whether that is going to make your company an attractive employment option. Your employment offer will be consistently reviewed by existing and prospective employees.
What should you review?
The most basic but often overlooked document can be the actual Job Description. These do change over time, and they must accurately reflect what is expected in any role and how performance is measured. It is important to identify career development plans for employees that outline training and development opportunities. This then points to what someone may need to do in terms of development in order to achieve promotion to the next level. Very much aligned to this aspect is remuneration and reward, and importantly how bonuses may be paid. This sets expectations and provides a reference point or measure in an often-disputed aspect of a job role.
Next review particularly in today’s world needs to be the level of flexibility there is in job roles across many variables. For leadership to be respected, viewed as progressive and aware, it is important that they constantly communicate with their teams.
One of the most efficient management tools has always been the ability to listen and then provide a customized solution for employees so that they feel special. Basically, you need to treat employees as you would clients. They may not always be right but need to feel they are, importantly that their needs have been considered and valued.
To summarise, if a process or procedure is not working it should be reviewed and adjusted to enable success. If you would like to be in a position to advise your clients on best employment practices, in the capacity of business owner ,consider becoming a Tanner Menzies Licensee; it is very rewarding! To know more , please call Peter Gleeson 0419367569, Ian Stacy 0417478229 or Peter Tanner 0419826637 or visit tannermenzies.net.au