KEEPING UP TO DATE

Business success through a team plan

An employer value proposition (EVP) includes your businesses core benefits that make up your wider employer brand. This is an unwritten promise between your business, a potential employees and your existing team as to what your business and culture can offer them in exchange for their talent, skills and experience.

Statistics show us that there is more movement in the Australian labour market than ever before. Employees leaving businesses is (mostly) a concern and can create a negative impact on businesses, especially small businesses. Having said that, it can also be a great opportunity for SMEs to hire with so many people looking to move.

To take advantage of the opportunity before us, we need to understand what our employees and potential employees want. Employers often believe their teams work with them because of good salaries and job security, but we know that these rank 10th on the list of why someone would accept a new position.

The value of having a well-done EVP

Having a well-done EVP can create many benefits within your business. These range from the expected ability to attract and retain good talent to improving your employer brand, building a positive culture, driving employee engagement and boosting performance.

Research conducted globally, asking employees what they wanted in their employment, identified 5 key winning strategies for keeping your team and attracting new people:

Interesting work

Helping to keep work interesting can be different for each person, but a great way to start is checking in with your team. Often by leveraging your team’s knowledge and expanding their work within the confines of their roles, you can gain more than one benefit. It keeps the work interesting, and it gives you a more highly skilled team who can fill in for each other if needed. More than 40% of respondents connected interesting work to personal development so they could contribute more to business goals.

Connection (with the leaders, managers and colleagues)

Humans are social by nature. Creating the bonds and establishing yourself as a trusted manager or leader can make a huge difference when people are considering new opportunities. It is often said that people leave managers not jobs. As a manager, it is part of your role to forge those strong bonds and support the connections between your team members.

Appreciation & recognition for the work they do

For years, one of my most treasured processions was a small card given to my by a manager I respected. She told me that she noticed how hard I worked, but more importantly the difference that my choices made in our wider team. It cost her a little time and a small amount buy the card, but it was invaluable to me. Appreciation and recognition doesn’t have to be expensive but it should be genuine and heartfelt.

Ability to contribute to the team, solutions and success

Being hands on doing the role often means our team see things that we don’t. Giving them the opportunity to contribute to our and their success and changes which will impact them, demonstrates their opinions are valued. People who feel they have a voice, choose to stay with their employers for longer.

Open communication

Planning times and methods to share information is essential. We all like to have awareness of what is happening in the company we work for. Open communication could be ensuring that your 1 to 1 meetings take place regularly, those coffee catch-ups when you talk about things other than work are possible, formal communication with up-dates of celebrations, changes, misses or opportunities.

The good news for Impact HR clients is that that means we have a lot of experience in determining options that could work for your business to implement each of these ideas and help you secure your current team and attract people to your business. Feel free to reach out for an obligation free discussion about what could work for you and your team on 1300 474 672 or info@impacthr.com.au