It’s now vitally necessary for any business trying to be stable and competitive to hold onto outstanding people. So what is the process for doing this? To nurture a devoted and driven staff, Deloitte is reporting on an “Adapting Benefit Package” that takes into account the changing demands and values of workers.
Knowing what matters most to workers may greatly improve retention efforts, ensuring that companies not only draw in top talent but also maintain their commitment and engagement!
Origin Energy recently commissioned an extensive analysis from Deloitte, which examines the most recent developments and insights about staff retention. It looks at how employees’ decisions to stay long with their employers can be greatly influenced by harmonising work benefits, compensation, and values.
Crunching key data from a recent massive survey of over 1,500 employees and 15 HR representatives across various industries, this whitepaper is a godsend for employers.
Key Insights from the Report:
- 72% of employees remain with their current employer based on key aspects of the benefits package
- Aligning values with employees makes them 79% more likely to stay with the organisation
- 50% of employees consider their employer’s sustainability efforts as a significant influence on their employment decisions
- 49% of employees perceive the communication of benefits as inadequate and learn strategies to bridge this gap
Foster a Positive Work Environment
Creating a workplace culture that promotes collaboration, respect, and support is also key here! Encourage open communication and feedback. Recognise and celebrate achievements, both big and small, no matter the experience or standing of the employee because humans need reassurance and praise!
We can also promote work-life balance through flexible working hours, remote work options, and time-off policies because we don’t want to burn out, right?
Spread the Love
Regularly acknowledge and reward employees for their contributions. Implement a structured recognition program, such as “Employee of the Month”, or offer spot bonuses or gift cards for outstanding work. You can even provide non-monetary rewards, such as extra leave days or public recognition via social media to followers of your brand.
Take the first step towards building a more committed and satisfied team! Download the whitepaper today and elevate your employee retention strategy by ensuring your workforce remains engaged and aligned with your company’s values.
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