The Revovling Door

Labour Watch
•	2010
-	Employers to Tackle Business Challenges with Strengthened Talent Bench
•	2009
-	The Revolving Door
-	JobsDB Hiring Trends Survey 2009
-	Financial Leadership Forum 2009
-	For A Good Cause – CSR in action
-	Employers up hiring expectations in Q4 2009
-	The Hotspots of Recruitment Activity
-	An exciting time to work in China
-	New technology initiatives drive IT jobs growth
-	Companies continue to hire in Q2 2009
-	WorkSkills Qualification leads to better careers
-	The Hudson Report - Hiring and HR Trends in Singapore
-	Singapore employers keep hiring cautious and headcount steady
•	2006 - 2008

25 November 2009

Employers need to focus on retention in response to the rising number of permanently employed staff entering the job market, says recruiting experts Hays.

“The downturn may have kept good people with an organisation, but now the job market has improved, unhappy staff will explore their options,” says Chris Mead, General Manager of Hays in Singapore. “In a recent survey, 54 per cent of respondents said they know ‘quite a few’ people who are now looking to change jobs.

“This means it’s critical for employers to focus on their retention strategies. While there are many cases of employers that maintained their focus on retention during the downturn in order to be ready for the economic reversal, there are others that pushed retention to the side. These employers now need to revisit their retention strategy, or risk losing staff to an improving job market.”

Top retention tips from Hays

Work/life balance:

“Consider your employees' work/life balance,” says Chris. “If longer hours have become the norm in your workplace, cut them back if you can. If workloads are no longer manageable in the standard working day, it might be time to find extra help – consider using a temporary resource to boost resources short term. You only pay for the time worked and the team will definitely appreciate the extra support.”

Recognition:

“For most companies, salary increases or bonuses were not an option this year, but recognition shouldn’t be solely focused on monetary rewards. Give staff positive feedback and praise. Internal recognition for a job well done can go a long way.”

Development:

“Training and development doesn’t necessarily mean formal courses, although it can. One-on-one training and mentorships in the workplace can be just as effective. An employee could take on additional duties, such as chairing meetings. Investing in your employees’ skills development allows them to be the best they can be, which has obvious rewards for both them and you.”

Communication:

“The communication of strategic action plans can boost confidence and morale amongst employees. But make sure communication flows both way and allow employees to communicate back to you. This can be as simple as a staff satisfaction survey.”

If they do go

“An employer brand is affected as much by the people who leave as the people who are still employed. Making leaving a positive experience can be a challenge but it is very powerful for leavers to speak highly of an organisation even though they no longer work there. Even something as simple to implement as an exit interview can have a very positive impact, “said Chris.