Tag: work

Posted on

Winning the War on Talent

When it comes to talent recruitment, small businesses can often be at a disadvantage. You may lack the budget and resources of larger employers, making it difficult to compete for top talent in your industry. However, there are strategies a small business can use to level the playing field and attract the best candidates. In this blog post, we’ll explore how small businesses can compete for talent against bigger employers.

When you know why you’re in business and what you’re trying to achieve, it can help you attract the best talent. Make sure your mission statement is clear, concise, and easily understood by everyone. Show your team that they will be part of something special and that their work will have an impact.

By getting clear on your why, you can attract and retain the right people to help your business grow.

Flexibility in working patterns are a high priority for many people, such as the option of remote working, hybrid working or even job sharing. Give employees the freedom to choose when and where they want to work, providing them with more control over their lives. Other options to  create a positive work/ life balance include offering generous vacation policies and allowing employees to take time off for personal reasons. Employees appreciate knowing that their employer values their work/ life balance, and this can go a long way in making employees feel valued and appreciated.

It is important for small businesses to create an environment that encourages personal and professional development. This can be achieved by providing training opportunities, encouraging team building activities, and offering mentorship programs. Such initiatives can help employees feel supported and motivated in their job, which can lead to higher job satisfaction and better performance.

Retention of staff is about the whole package that you can offer. Keep benchmarking your pay and benefits, and perhaps offer a changing, flexible personal package to meet the different life stages of your teams. This could include benefits such as holidays, pensions, childcare and healthcare.

A good way for small businesses to level the playing field and compete with bigger employers is to focus on skills and talent rather than purely qualifications when recruiting. By focusing on what a candidate can bring to the table from their past experiences, small businesses can ensure that they are getting the best candidate for the job, no matter what kind of budget they have.

Plus, look out for awards and citations which will flag you as an excellent employer. The Times- “Best Places to Work” awards or business awards in your field or local area are a good place to start. Winning these kinds of awards will raise your profile and help to attract and keep great people.

To keep people long term, look at investing in career progression and leadership opportunities for your team. The opportunity to take on greater responsibility, be involved and move up within the organisation keeps people engaged in your business longer rather than looking elsewhere.

If you can bring together some, if not all, of these initiatives, then you will start to win the war on talent and build your dream team.

Posted on

The 4-Day Week – Pilot

What is all the fuss about?

The Government  have been piloting a scheme to trial a 4-day working week and people have been asking me what it is all about.

Prompted by the demand for flexible working, the need to keep good people, along with the pressure to provide work-life balance and reduce overhead costs, about 70 companies and 3,300 staff have been giving the 4-day week a 6 month try out.

What it is not – is compressed hours. This is the requirement to do for example: 4 x 10-hour days instead of  5 x 8-hour days. This keeps your pay and working week the same.

The proposal is that by working smarter and more productively,  people can work 4 out of their 5 days at the usual number of hours but yet get paid for 5 days work. This is effectively a 20% pay rise based on hourly rate alone!

Clearly then there are benefits for employees. What about employers? The feedback from this pilot so far is showing that people are maintaining their productivity. Employers may be able to reduce overheads in terms of office space, heat and light. Combined with the increase in hybrid working and working from home, employers are maintaining their customer services, expanding their catchment area for talent recruitment and are able to offer more attractive overall packages to retain key people. Reducing presenteeism and filling up the time for the sake of the extra pay can prove its weight in gold to employers and employees alike.

From the trial- which is due to finish in December – about 86% of employers say they are likely to continue with this working pattern and 88% say it is working well.

However, the feedback indicates that smaller employers and businesses are struggling more to cover the hours needed to meet customer demand and deal with handovers.   Only time will tell if this trend towards the shorter working week, already popular in some other larger developed countries, will become more of a norm for the rest of us.

Posted on

Financial Wellbeing Now Top Priority

Throughout March the CIPD had a strong voice on some key issues in the world of work. They are calling on employers to look at ways to improve the financial security of their workers as the cost-of-living continues to bite.

It is important to encourage people to want to work and to feel that working their way out of poverty is both possible and worth doing. Long hours and low wages only fuel a reliance on the state, which is an unhealthy long-term position for everyone. The increasing cost bases are hitting employers as well so thinking about employee financial security could seem like an additional burden. The minimum wage has just increased nearly 8% and supply chains are piling on increases in transport, raw materials and energy as well.

Why should employers take action?

Supporting your people to achieve a decent standard of living is an essential element of good work and responsible business. Research shows, that when we’re worried about money, our work suffers. Encouraging conversations about money worries helps people feel more confident and empowered, and more ready to face what life and work throws at them.

Businesses who pay the voluntary real Living Wage report several business benefits including improved recruitment and retention and better relations between staff and managers.

So, what can employers do? 

The most recent Employer survey from the CIPD in March 22 found the following elements to be the most important in providing financial security for employees:

  • provide a fair and liveable wage (96%)
  • support in-work progression to help people increase their earning potential (87%)
  • support financial wellbeing by offering and signposting benefits and financial education (71%).

Have a think about what can be offered to add value without adding hugely to your cost base. For example, partnering with local businesses who can offer your people an Independent Financial Planning Advice Service, or an independent household bills review is a good start. If these things can be done during the working day at your site, the convenience will be a boost to staff, there are possible savings for your people and you are also supporting your local business community.

There are plenty of options for supporting your teams and many people will have different priorities depending on their stage in life and own personal circumstances. Utilize your staff surveys or consultative groups to feedback the priorities for your own business.

At Oyster HR we always suggest that you use survey data, appraisal or supervision feedback along with your HR Dashboard performance to help shape and inform your ongoing HR Strategy. That of course means you need to be asking the right kinds of questions in the first place.

For a no obligation discussion about these or other pressing HR matters – we are happy to chat! [email protected]