Rewarding your staff
Many of our clients cite the most difficult thing in business as being finding & retaining the right staff.
We agree, and our experience has shown us many examples of sound business that have failed as a result of key staff leaving or on a more positive note, businesses that have gone from strength to strength as a result of identifying, hiring and retaining quality staff.
In this age of endless choice and his degrees of transparency (just think of the recruitment site Monster) how do you set yourself apart from the rest to stand out as an employer of first choice.
It could be that you go for an eye-catching (or watering) salary but that will only attract those who are wholly or mainly money motivated. Our experience tells us that employees now are far more sophisticated and as such need to be presented with something more sophisticated to get their interested.
Consider such options as:
- Flexible working hours
- Flexible working arrangements
- Flexible leave arrangements
- Employee benefits packages
- Employee rewards & bonus schemes
- Employee participation scheme
We would recommend that you look at your remuneration strategy and ensure that you are maximising the opportunities of recruiting and retaining staff in a cost effective way.
If you would like to see how you could incorporate the ideas into your own business then please contact me Sarah Savage on 01302 752700 or sarah.savage@enterpriseaccountancy.co.uk to organise a meeting to take this forward.