Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Recruitment & retentionOpinion

Positive approach to hiring will be repaid

by Personnel Today 23 Nov 2004
by Personnel Today 23 Nov 2004

Deloitte research this month shows permanent job appointments have increased by an average of 20 per cent each month over the past year and skill shortages are at a seven-year high. Employees are returning to the job market to take advantage of good job availability, as an increasing number of career opportunities become available. Organisations are therefore under pressure to ensure they have the right recruitment and retention policies in place to deal with competitive times.

A seemingly easy way of achieving this is through a review of reward structures, however, there are many more means of ensuring top talent is retained. In a tough employment environment, it is arguable that when a retention strategy is developed on an urgent basis, as a means of stemming attrition rates, the problem is already critical.

Clearly, a competitive starting salary is still an important part of the retention strategy, but paying enough to bring good people into a business does not guarantee they will still be there one year later. Organisations need to reassess their retention structures on a regular basis, as well as ensure that staff have a full appreciation of the opportunities available to them, including those relating to career development.

A competitive edge can potentially be gained when an organisation allows its people to achieve their potential. Learning and development is a significant part of this but it is not about a ‘one-size-fits-all’ approach. For an organisation to become a true development organisation, it is necessary to have greater flexibility for people to determine their own futures – not a set path where boxes are ticked when training is delivered, but an individually-tailored programme.

A recent Institute of Employment Studies survey identified what it is that motivates graduates to stay with an organisation. Nearly all graduates (90 per cent) ranked training and development opportunities as the most important aspect of their career, followed by mentoring/coaching (83 per cent) and then career/salary progression (66 per cent). For managers, the statistics are more or less similar. Learning and development was one of the main areas that suffered in the downturn, and now that businesses are once again benefiting from improved conditions, it is vital that investment is made in this area.

Flexible benefits are another tool that organisations can still exploit. All staff are motivated by different things and a reward strategy that allows employees to customise their ‘rewards’ to meet individual needs and preferences is an excellent way of gaining long-term commitment. Flexible benefits also help organisations maximise employee appreciation of expenditure on benefits spend and total compensation, enabling staff to understand the wider aspects of reward.

Employers who still favour the ‘take it or leave it’ package, which allows no room for choice or change, will find they are left with large numbers of vacancies and an underperforming business.

By John Connolly, chief executive and senior partner, Deloitte


Avatar
Personnel Today

previous post
Offshoring improves business competitiveness
next post
As seen on screen

You may also like

More government support to help over 50s back...

5 Jul 2022

Staff shortages affecting business growth at three in...

29 Jun 2022

Green jobs: are there shoots of growth on...

29 Jun 2022

Hire quality vs speed: Finding the perfect balance...

29 Jun 2022

White-hot recruitment market? William Tincup talks to Oven-Ready...

24 Jun 2022

Three in 10 workers’ skill sets not being...

23 Jun 2022

Bias stopping STEM professionals returning after career break

23 Jun 2022

Working from home has damaged sense of belonging,...

20 Jun 2022

Workforce wellbeing and job design: Stephen Bevan talks...

17 Jun 2022

UK among worst in Europe for employee engagement

14 Jun 2022
  • The ultimate guide to payroll for small businesses PROMOTED | You’ve started a business that has expanded to the point of requiring more staff to meet demand. Congratulations!...Read more
  • NSPCC revamps its learning strategy with child wellbeing at its heart PROMOTED | The NSPCC’s mission is to prevent abuse and neglect...Read more
  • Diversity versus inclusion: Why the difference matters PROMOTED | It’s possible for an environment to be diverse, but not inclusive...Read more
  • Five steps for organisations across the globe to become more skills-driven PROMOTED | The shift in the world of work has been felt across the globe...Read more
  • The future of workforce development PROMOTED | Northumbria University and partners share insight...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+