With an unemployment rate of 3.5%, there are many career options available to your team.
Why should they continue working with your company?
Retention of team has never been more important to your business.
There are basic questions business owners need to ask themselves when reviewing their team retention strategy,
- Do we continue to be an employer of choice in our industry or profession?
- Do we support growth and development of our team?
- Is our performance review process documented and used consistently?
- Do each of our team have a job profile and career plan? Are team members clear on how to implement the plan?
- Is our business attractive in terms of preferred work/life balance and flexibility?
- Does our culture encourage inclusivity and diversity?
- Is the communication style used by our leadership team reflective of our culture?
- Is there inequity in respect of remuneration paid to new hires when compared to continuing team members? If there is inequity, your team will find out!
You should not wait for the ‘right time’ to review your team retention strategy.
With cost of living pressure and a buoyant employment market, some of your team could be considering their options right now.
Next step
Munro Noon Business Advisers have created an opportunity for you to work on your team attraction and retention strategy in a highly productive 90 minute session with one of our experienced Advisers.
This session can be undertaken on-site at your business and outside business hours, if this is more convenient for you.
Prior to the meeting our team will assist you complete a series of diagnostics to provide insight into your business’ current strategy.
Contact us today for your obligation free initial consultation.