Employees in 2017 have more options than ever, they can easily move company, counties, countries and continents to work. Companies in the South East also need to be acutely aware of the attraction of other regions across Ireland for people seeking new career opportunities. According to the South East Economic Monitor 2017 ‘lower job quality’ in the region continues to hold the economy of the South East back.
‘The region lacks quality PAYE jobs (44.8% of income tax return of the national average), with income taxes from self-employed individuals being above three-quarters of the state average (at 78%). This demonstrates a lack of high-paid PAYE jobs and that surplus labour is absorbed by necessity entrepreneurship.’
How can we attract and retain?
In a recent study 58% of millennials (those born between the late 70s and mid 90s) ranked the quality of the work environment they would be joining over the financial benefits being received from the company. What do we need to think about when attracting and holding on to our very best talent? It’s not all about Pizza Fridays, beer on tap and foosball tables…
Flexible working options
Dolly Parton may have had a point back in 1980 but ‘working 9 to 5’ is far from reality in 2017. The regular 9-5 work day is no longer the goal for employees, companies now offer flexible work times and remote working options to employees to fit in with their day to day lives, millennials in particular prioritise a work/life balance over salary.
Reward, recognition and appreciation
Feeling valued is a key part of recognition. From the small things like a ‘Thank You’ for a job well done to more substantial rewards like a pay rise or bonus, it all adds up. Employees want to feel like they are making a difference and have purpose in their work.
Employees will only invest their time in a company when the company is invested in them. Offer opportunities for professional development and growth with structured promotion pathways, coherent bonus structures and opportunities to learn and grow with the company.
What works for you and makes your company culture unique?
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