How businesses can attract staff longevity amid an ever-changing landscape

How businesses can attract staff longevity amid an ever-changing landscape

24 May    Advice, Finance News

Employee satisfaction is incredibly important, a fact known by all business leaders. In the current job market, there’s a surplus of employment options and retaining top talent is an increasing challenge.

With this in mind, the team behind tamper evident carriers and security seals manufacturer versapak have compiled their list of top tips to attract staff longevity.

Lead by example

Is your business creating a culture in which working extra hours and sacrificing self-care are viewed as ‘just part of the job’ and necessary evils? If so, it can cause serious reputational damage and make it impossible to attract staff longevity.

As a leader, setting the tone and acting as a role model can massively help workplace culture. Leadership is a crucial trait in business – including self-reflection and the ability to not only recognise, but also proactively act upon your shortcomings. A strong leader can inspire their entire team and create a sense of unity, thus motivating everyone to steer the business in the right direction. If you show your passion on a daily basis, people will want to follow you.

Keep up-to-date with the industry

In 2023, the job market is more employee-driven than possibly ever before. Staff turnover is a real issue as C-suite heavyweights wrestle with new, digitised practices brought on by the switch to working from home. In certain industries, workplace hybridisation might become the new norm, but not all members of senior management are ready or willing to get onboard.

Employers can offer valuable perks to employees, such as hybrid working, to prevent them from simply bouncing from job to job in pursuit of a more lucrative package. As a business leader, it’s best to stay abreast of industry developments and honestly but fairly assess how your company compares to others in your space. It’s crucial that business owners are agile in the face of an ever-changing landscape. Quiet quitting isn’t a silent taboo anymore – employees are making their feelings loud and clear.

Handle compensation with car

The current rhetoric surrounding pay rises is another difficulty that businesses are facing at the moment. Amid the cost-of-living crisis and regular strike action across multiple industries, offering staff pay rises appears a simple solution on the surface – however, it might just exacerbate a spiralling problem. Offering pay rises will increase running costs for businesses, which will force prices to increase further and staff will still face the same issue; needing higher pay to afford basic goods and services.

For many managers, your employee asking for a raise can present a tricky and delicate situation. Compensation is far from a straightforward subject and, depending on the structure of your company, the final decision might not be yours, even though you’ll need to deliver the possible bad news which has a profound impact on your employee’s livelihood.

If faced with this situation, make sure to treat your employee with respect and decency – regardless of if it’s your team’s star worker or an average performing member of staff – and allow them to clearly and thoroughly state their case without giving an immediate answer.

Caroline Atkinson, Group Managing Director of www.versapak.co.uk, commented: “For business leaders, the current job market can present choppy waters to navigate. By choosing to lead by example, keeping up-to-date with industry leaders in your space and handling compensation with care, it’s still possible to attract staff longevity despite the ever-changing landscape.

“At Versapak, we truly believe that our company is only as good as our employees. Employees are the heartbeat of any company, so creating an environment which attracts staff who are happy, loyal and ready to fully embody and embrace the company’s mission is essential. By putting employee welfare first, companies are actually putting themselves first too.”

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