Are you an employer that people what to be a part of? There’s plenty of evidence to suggest that being an employer of choice is a very advantageous position to be in. CEOs are predicting business growth for the next year and economic forecasts show that employment rates are due to go up—with the pace of business increasing, demand for qualified candidates is outstripping supply.
According to new research by Robert Half for the 2019 Salary Guide, 53% of UK businesses find it challenging to source qualified professionals and 51% find it hard to secure them. This has steadily increased over the last five years and is set to continue for the foreseeable future across all sectors.
Positioning yourself as an employer of choice is the best way to gain a competitive hiring edge, but that isn’t its only advantage…
Why become an employer of choice?
1. Higher retention rates
When qualified candidates are so hard to come by, it makes sense to hold onto the top performers you already have. In recognition of this, UK businesses are planning to focus more on retention strategies in the coming year, with special attention to the quality of leadership being provided.
2. Better productivity
Studies have shown that happy employees are far more productive in general—the University of Warwick found that employees had a 12% spike in productivity when they were happy. This is causing more employers to start adopting an employee-first approach to business.
3. A healthier workplace culture
When employees are happy, the general level of morale in the workplace is high. This creates an environment in which collaboration and productivity thrive. It helps to improve retention levels and develops a healthy workplace culture which is very attractive to employees, both current and potential.
4. Top talent comes to you
How do the best businesses attract talent? They use their strong employer branding to gain the competitive edge. Great benefits, attractive salaries and happy staff don’t go unnoticed by top performing professionals and you may find that they start approaching you for open roles.
How to become an employer of choice
There are several ways you can begin to improve your desirability as an employer:
- Employee satisfaction survey
Workplace satisfaction surveys don’t have to be difficult or time-consuming. Many businesses are opting to make the transition to HR software platforms, so it’s easy to send and complete regular health check surveys to monitor contentment levels, quality of leadership and general workplace happiness.
- Show appreciation
A Robert Half workplace happiness report showed that feeling appreciated is the third biggest factor in how satisfied UK employees feel. Don’t forget to congratulate or reward a job well done—it isn’t just great for morale but offers employees a marker for career success, too.
- Provide career growth and learning opportunities
For employees, having the opportunity for professional growth is very appealing. To help keep retention high, 38% of UK employers said that they were offering training to employees as part of their job benefits package. This particular job perk doesn’t have to absorb your budget, either—it can be provided through mentorships, role rotation and by simply allowing employees to go for projects and pitches they’re passionate about.
- Competitive remuneration packages
Although workplace happiness is important to employees, a flexible, comprehensive remuneration package is also attractive. Salaries are going up over the next year and businesses who hope to be regarded as an employer of choice will also need to make changes in order to remain competitive. Flexible working continues to be the most sought-after benefit, along with excellent pension packages and the offer of training.
Are you interested in becoming an employer of choice? Get in touch with the team at Robert Half for additional advice and guidance.
2019 Salary Guide
The Robert Half Salary Guide is your comprehensive guide to competitive, confident hiring for the year ahead. Based on interviews with 200 CFOs, 100 CIOs, 300 hiring managers and 2,000 professionals from across the UK, it provides an extensive overview of the key trends affecting hiring in 2019.
- Salary ranges for 270 jobs
- Most in-demand positions & skills
- Hiring market trends per sector
- Key retention and development strategies
- Trends in remuneration packages and starting salaries