Wednesday, July 10th
When it comes to improving cost control and lowering high staff turnover, many companies put a lot of thought into developing effective employee retention strategies.
It’s no secret that happy employees are more motivated to succeed and therefore often more productive and efficient than their unsatisfied counterparts.
So what can you do to retain top talent and keep your staff smiling?
According to a recent survey by Deloitte, talent development has emerged as the top HR trend in Australia for 2013.
The ‘Resetting Horizons: Human Capital Trends 2013’ report found that over 70 per cent of Australian companies are focused on talent development, closely followed by ‘organisation acceleration’ (69 per cent) and ‘transforming HR to meet new business priorities’ (64 per cent).
Deloitte Australia’s Human Capital leader Nicky Wakefield said that these findings suggest “the ‘war for talent’ is shifting to the ‘war to develop talent'”.
“As organisations struggle to fill talent gaps, they have also raised the bar on talent development,” Ms Wakefield continued.
“Employees are seeking demanding, engaging and meaningful work, and the employers are looking for ways to fill positions internally – including leadership and executive roles – as well as manage escalating turnover costs.”
Talent development means investing in the training and ongoing development of your employees. This could be achieved by rolling out regular workplace training programs in conjunction with a reputable development company such as Spectra Training.
Providing your staff with the opportunity to work with a training company to develop their skills can help them learn how to be more productive and efficient on the job, as well as foster a sense of loyalty and motivation.
Ms Wakefield said it’s encouraging to see business leaders embrace effective HR strategies and use them to their advantage.
“Economic uncertainty is still part of the business landscape. But instead of merely reacting to change, organisations are harnessing it and turning it into a business advantage. They recognise that, in a world that is changing rapidly, it is sensible to be in a position to pre-empt and act on the next trend,” she concluded.
A full copy of the report is available for download on the Deloitte Australia website