Ireland’s national unemployment rate hit an all-time low of 5.3% at the end of 2018, and while this has rose, the trend remains downward. Businesses across the country are now faced with the corporate conundrum of staff retention.
The last of the Millennials, and the first of Generation Z have begun to enter the working population.
This new workforce yearn for more than a job; a career full of development, skills growth and satisfaction now trumps traditional financial rewards and bonuses.
Let’s explore what the generation gap means for your business today and how you can deliver top talent retention and trump the competition.
Time to Review
As new generations begin to comprise the Irish workforce, your business needs to move along with the times. While financial rewards will never be ‘sniffed at’, Irish Millennials and Generation Z value genuine investment in their careers, and care for their wellbeing.
As a business, building relationships and loyalty amongst staff is key. As dating app trends like ‘ghosting’ creep into the working world, active investment of your employees and their careers can grow a positive dynamic, increase loyalty and ensure you keep the right talent in your team
How Can Your Business Improve its Talent Retention?
Retaining staff is a challenge, but it’s crucial for your business. Company performance and reputation relies heavily on its people and their skills. Here’s a few steps you can take to improve your talent retention:
- Review Company Policy
- Give Feedback
- Designate Opportunities
- Give Recognition
- Train and Upskill
- Organise Team-Building Activities
- Re-designate Tasks
Try to pass tasks around in the workplace. Shaking up who does what gives employees the chance to build upon their knowledge and skills.. They may even discover a new passion they never knew they had!
Your Next Step
Reviewing company culture regularly augments recruitment levels and aids talent-retention. The crux of the employer-employee relationship is trust and what better way to show your considerations of staff than rethinking their workplace experience at all point.