Labour market woes are set to plague employers for the foreseeable future. Unemployment is expected to remain close to record lows, an EMA survey says that 90% of businesses are struggling to find staff, and wage price inflation is at its highest level in 32 years.
Workers too, are facing their own challenges; the petrol price subsidy has rolled off, many thousands of home owners are facing higher interest rates running to hundreds of dollars a month, and let’s not forget about $20 blocks of cheese!
Talent retention is a big issue right now, with many employers struggling to hang onto their good people. It’s not just about unfilled vacancies, it’s also about the impact on the people that are there. Things like increased stress and workload for prolonged periods, lack of resource, and leadership issues where people have been promoted to fill a void, impact on engagement and culture, as well as slow (or no) progress against strategic goals.
Employers might feel that there is little they can do to stem the tide. But AskYourTeam has a solution to help businesses better understand and begin to solve retention issues in their organisation.
Our new retention survey will help to quantify retention risk by asking anonymously whether people are thinking of leaving. You’ll understand whether people still feel connected to the organisation, whether they are fulfilled in their work, and if they are thinking about leaving, what would encourage them to stay.
Through slicing and dicing of data, you can pinpoint where the greatest flight risks lie, and gain an understanding of root cause, both at an organisational and team level, so specific and targeted action can be taken.
Taking a “head in the sand” approach is not going to solve the retention challenge. Neither is only finding out – on departure – how people feel about your organisation as a place to work. You need a full picture of their employment journey to really make a difference.
Our employee experience platform helps drive meaningful change. By asking the right questions and involving your people – proven to drive productivity and wellbeing – we help you to really understand what your team think and feel. And most importantly, where improvements can be made. After all, who knows more about what’s working and what isn’t, than the team at the front line?
If you’d like to take the first step to address retention issues in your organisation, get in touch. We’d love to help!
