How to Attract and Retain Talent in a Tough Market | #hrmanagement #hrexecutive

Multi-sector and for companies of varying size, HR are finding that the market for recruiting talent is challenging, especially with the cost of living soaring. From shifting patterns of working, pinched budgets to pay higher salaries and shifts in employees’ needs, it’s getting harder and harder to attract and retain the high-performing staff.

Fortunately, there are some ways that you can attract and retain talented employees without breaking the bank. If you want to keep hold of your best people then keep reading for some ideas for how you can increase their engagement.

A modern workplace is a different place than it was just a few years ago. Remote workers, hybrid patterns, and greater inclusivity and diversity are all influencing the way that companies attract and retain talent.

One of the most important tools in this effort is the Employee Assistance Program (EAP). An EAP platform can help your employees to maintain their mental health and well-being while continuing to deliver great results for your company.

Photo by Tiger Lily

What is an EAP?

An Employee Assistance Provider (EAP) is an online platform that gives 24/7 access to support. There are a variety of benefits to using an EAP platform as they provide employees access to a a range of confidential services, including:

• personal financial guidance
• legal advice
• counselling during bereavement
• medical advice
• help navigating milestone events (such as pregnancy and relocating)
• emotional and mental health support, and
• divorce and relationship.

An EAP service should be available for all employees – full-time, part-time and remote workers to support a healthy work life.

We’re seeing more remote work, hybrid patterns and greater inclusivity and diversity these days. This means that companies need to adapt their employee assistance programs (EAP) platforms to support these changes and use them to offer equal access to benefits. EAP providers can also offer bespoke support for pregnant women and new mothers who want/need flexible work arrangements during pregnancy or after giving birth.

Access to flexible working patterns

Every company needs great employees, but in a tough market, it can be hard to keep them around. One way you can do this is by offering flexible-working arrangements. These include access to flexible hours, telecommuting options and other ways to reduce stress on your team members’ schedules. In one recent report, more than 80% of employees said that they would prefer flexible hours to having a rise in salary, while a similar survey ruled that 50% would choose flexibility as their most-favoured perk. Employees want the freedom to work from home or on the go, and they want to know that their work/life balance is being taken into account.

If your employees have kids, they might want the option to work from home one day a week to look after them. Or, maybe they need to attend a medical check-up, or thanks in part to their pregnancy, an unscheduled dental appointment. 

Healthcare and dental plans

Good health is important for any employee – and if they have access to affordable healthcare through their job, they’re going to feel better about coming to work every day!

Make sure your employees have access to healthcare and dental plans that match those offered by other companies in your field.

This will help them feel secure about their future with your company and keep them from feeling like they might be missing out on something important. You can also attract and retain talent in a tough market by offering your employees the best healthcare, dental plans, sporting memberships and cycle-to-work schemes to promote health and fitness.

Parental leave and support returning to work

Pregnancy and maternity leave can be a challenging time for working mums, with many women feeling overwhelmed by the prospect of returning to work.

Not only are new mothers getting used to having a newborn, but they also have to let their bodies recover and may be dealing with things such as exhaustion, sensitive teeth and mood swings. For expectant parents, unforeseen situations can crop up during regular working hours and formal working arrangements by companies can really help. Employers will appreciate being able to support their workforce and it will help every member of staff feel valued and, therefore, more engaged in their job.

A company that can provide bespoke support during pregnancy, maternity leave and on the return to work shows an employee how valuable they are. There are bespoke EAPs and detailed resources for HR professionals that can provide comprehensive support for pregnant and working mums.

Counselling services for new mothers returning to work after maternity leave can be provided. counselling services for new mothers returning to work after maternity leave. This can include:

• counselling for postnatal depression
• reducing stress levels in the workplace
• managing work/life balance

Vacations

Let’s talk about vacations. They’re great, right? You need not only an attractive salary package but also generous holiday allowance and sick pay policies if you want to attract and retain top-quality employees in a competitive marketplace.

When you think about it, there are some important things you should remember when it comes to vacations:

• Vacations should be earned. If your employees have been really busy and they’ve done an amazing job at work, then they should earn their vacation time.
• Vacations should be taken. You don’t want people taking off all their time in one big chunk – you want them to spread it out over the year so that they spend more time at work and less time away from work.
• Vacations should be used. The point of taking a vacation is so that your employees can return refreshed and energised so that they can continue doing great work for you upon returning from their trip away from work!

In other words: taking time off makes perfect sense!

Incentives such as bonuses, rewards and pensions

Offer incentives and rewards for employees who stick with you through thick and thin. This could include a company car scheme or employee discounts on travel, technology, entertainment, etc. You can also offer holidays (including paid parental leave) as well as pension schemes if they’re available in your industry.

Incentives have long been used by companies to retain talent in the modern workplace. But today’s workforce is more discerning about their career choices than ever before.

With so many options out there, employees need to feel valued at work and right now. This means having access to benefits that will help them reach their goals outside of work.

Modern employees want greater flexibility in their schedules so they can spend time with family or engage in personal interests. They want more control over when they take vacation days, help to save for retirement, health and dental insurance and more!

If you’re looking for easy ways to attract top talent into your company without breaking your budget then offering incentives is a great way to go about it. Work perks make employees feel appreciated while also benefiting from higher productivity levels which ultimately leads back into lower turnover rates overall.

Electric charging facilities (being sustainable)

It’s important to note that sustainability is not just a buzzword. It’s the key to reducing carbon emissions and our carbon footprint in the future, which will be of great benefit to both your business and the environment.

Providing electric charging facilities is one way to show your employees that you’re committed to helping the environment, and also helping them reduce their carbon footprint as well.

In today’s tough employment market, it’s more important than ever for employers to offer their staff attractive benefits and incentives. This can help retain talent and attract new employees.

Having an EAP can help provide employees with a number of resources to help improve their access to benefits and increase their happiness and productivity. By offering employees a range of benefits that they appreciate, such as flexible working patterns and health insurance, companies can create a positive culture and working environment where people want to work and stay.