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Posts Tagged ‘employees’

There Has Been An Increase of Businesses Not Including Salary Details When Advertising A Job Vacancy

Posted by Emily Ridley

It has been reported that employers are increasingly not including salary details in jobs ads. As a result of this it is likely that they might be missing out on the best applicants.

Omitting salary details is also a surprising move for a business to make considering that the current unemployment rate is at 4.2 percent thus creating a shortage of available workers in many industries.

As a consequence of this Australian businesses are scrambling to attract the skills they need to grow.
As a result of the dwindling pool of available resources in the job market, vacancies are proving harder to fill for many employers.

A recent survey conducted by Indeed which included the responses of over 2,000 working Australians found that “65 percent of job seekers say a role’s salary is important to include in a job ad”.

However, according to the same survey “Only 9 percent of employers will always advertise a role with a salary”

Katie Furvey who works for Indeed says that there are a number of reasons for the disconnect.

“Our survey findings may reflect that employers want to appeal to applicants who are attracted to the role and the company, rather than those focused primarily on salary,” says Katie Furvey.

It is therefore understandable that employers are wary of applicants only applying for a role to achieve a rise in salary.

The reason many firms give for this is that if remuneration is the sole driver of an employee, they are more likely to leave in future when another organisation offers them more again.

It is also important to consider that other applicants may be deterred from applying if no salary is listed, especially in the candidate short market Australia is currently in the midst of.

Katie Furey agrees, suggesting that, “Being upfront about remuneration can work in everyone’s favour – greater transparency engenders confidence and trust from candidates and helps avoid surprise rejections when an offer is made,” says Ms. Furey.

However, from the perspective of an employer the large majority of businesses who choose not to disclose remuneration on a job advertisement will disclose it at the interview stage, so the latter point about surprise rejections may be a moot one.

Another possibility and reason for not advertising a salary is that displaying salaries for new hires may create issues with existing employees, especially if the renumeration offered is higher than what these employees are currently earning.

The last thing employers will want to do is create reasons for valuable existing employees to leave, especially if the war for talent is expected to intensify.

However, although the interview stage may be the safest option for employers to disclose pay details, in the current job market this option runs the risk of not attracting the required calibre of applicant in the first place.

Employers must tread a fine line in the current climate, but it appears inevitable that companies will be reviewing their strategies on how to attract new hires.

“If the last 18 months have demonstrated anything, it’s that the way we work is changing, so it follows that how job advertisements are structured can, and should, also evolve,” Says Katie Furey.

As with most things in the past two years, the pandemic has driven a lot of the change.

How employers navigate this change will go a long way to determining how successful they will be attracting the right candidates to apply for their advertised job.

Tips For Boosting Employee Retention in A Post-Pandemic World

Posted by Emily Ridley

The covid-19 pandemic has changed the way the world works in so many different ways. Covid has changed the way we travel, the way we socialise and one of the biggest changes is the rise in popularity of flexible working options for employees.

Now that more people are working from home and ultimately the employee has more power in a post-covid world when compared to before covid. As a result of this employers are having trouble retaining some of their most valuable employees. Here are some tips to help employers boost employee retention in a post covid world.

Understand The Importance of Having Flexible Working As An Option For Your Employees

Although most people are able to return to the office now if they want to, there is also a large number of employees who are resisting the everyday commute becoming the norm again. A survey showed that 95 percent of workers say they prefer working from home in some capacity. This illustrates that there is a clear expectation for flexible work arrangements to continue post covid-19.

Furthermore, 62 percent of employees say they wouldn’t even consider a new employer who doesn’t have a flexible working policy. 81 percent of people surveyed said that a company that allows for flexible working is really important to them when looking at future roles. 

Offer Your Employees Practical Support

Navigating the post-covid world and negotiating a hybrid working balance that is beneficial to both employers and employees is now an important consideration for all businesses. Those who don’t support staff in their desire to maintain a flexible work situation will find themselves at risk of losing some of their most talented employees. 

However, just agreeing to your employees working flexibly isn’t enough; it’s about supporting them to work effectively and productively from anywhere. Research shows that both employers and employees get the best out of hybrid working when their home office reflects the ergonomics of a traditional office environment. 

Be A Leader for Your Employees Not a Boss

Very few people want to be leaders, but everyone wants to be the boss. Remember, though, that people follow leaders, while they abandon bosses. A boss is a dime a dozen while leaders are rare.

It is important to make sure you have a clear direction towards the future. Good leaders let employees know where the company is headed. Bosses don’t share information and leave employees wondering if there’s good or bad coming down the pipe and if they should be concerned.

A leader also believes in the importance of people. A great leader considers employees their most important asset. Bosses are more focused on numbers.

A great leader also Inspires confidence in his employees. Good leaders make employees feel confident about their ability to lead them to a good place. Bosses on the other hand have a tendency to inspire passive-aggressive frustration as employees question the decisions that have been made that have affected them negatively.

Realise That Counteroffers Don’t Always Lead To Retention

Attempts made by businesses trying to retain employees by making a counteroffer are falling short. Recently published research has discovered that of the 50 percent who do accept the counteroffer will resign from their position of employment within the next 12 months.

According to the research, 82 percent of business leaders surveyed are concerned about retaining employees in 2021. 

To fight the issue, many are finding themselves extending counteroffers in an attempt to retain employees. Despite this, 52 percent of employees who accept a counteroffer leave in a year or less. Of these employees who leave one in five leaves in less than six months.

Counteroffers are more often a tool to assist the employer. Particularly in a competitive market, it can be tempting to make counteroffers in order to retain institutional knowledge and avoid the resource-intensive exercise of recruiting, onboarding and training a new employee.

The fact that a counteroffer is designed as a tool for the employer, rather than the employee, is the major reasons why counteroffers are an ineffective retention strategy.

Although offering a salary increase may seem like a cost-saving initiative, a counteroffer doesn’t necessarily advance the career of the employee, so in most cases, the employer is still left with a dissatisfied employee who was motivated to leave the organisation in the first place.

Rather than being reliant on reactive counteroffers to address staff retention, business should be looking at their existing retention strategies as a proactive mechanism to ensure employees feel satisfied, valued, and therefore less likely to court competing offers.

Some more effective strategies could include conducting regular salary reviews to ensure their compensation is competitive, establishing clear career paths with individual employees to help their progression and reduce the appeal of a competing title change, and offer flexible working arrangements to support employee work/life balance.

Australian Businesses Are Offering Employees Massive Incentives to Combat The Great Resignation

Posted by Emily Ridley

Millions of Australian workers are preparing to quit their jobs in the upcoming months. To try and entice workers from quitting, employers are making an effort to offer a number of incentives to try and convince their workers to stay.

One Australian organisation offer $6,000 to all of their 200 employees to spend on anything they want in order to prevent a mass exodus of employees as the Great Resignation looms in Australia.

The Great Resignation has been occurring in America with everyone from frontline workers to senior executives quitting their jobs as people seek out flexibility, work that aligns with their values and companies that treat them as humans.

Linktree is a social media start-up that has the backing of billionaire Afterpay co-founder Nick Molnar, is offering an annual $6000 reward for staff to spend across four pillars, including wellness, personal growth, lifestyle and impact.

Linktree is working in a fiercely competitive space for employees with a crippling shortage in the industry, as Deloitte Access Economics estimates Australia will need to upskill an extra 200,000 tech workers over the next few years.

A Linktree employee named Hannah has said that she is very impressed with the rewards program and she describes the $6,000 incentive as a “pay rise but with more intention”.

She plans to spend the money on personal growth courses that will help her with her wellbeing and also spend the money on a gym membership and massages.

She is also planning to spend the money to help the environment. “I have always wanted to get solar power for the house and I will use some of this to go towards powering it. It’s a big investment but the rewards program is giving me the opportunity to do it sooner,” says Hannah.

Hannah says it is the best employee incentive she has ever heard of and ever received from an employer.

“It definitely highlights how much that Linktree actually cares about its employees mental and physical health, both in and outside of work. One of the pillars that we could select to spend benefits on was priorities outside of work like cleaning, which I thought was really cool as people’s priorities are really different, and there’s the flexibility there,” says Hannah.

Defying the ordinary was one of the core values of Linktree, said its head of people operations Emily Moore, and implementing the rewards program was a fantastic feeling for employees after a tough few years with Covid.

“Right now many people are re-evaluating what is really important to them and making changes in their lives they may have been putting off prior to the pandemic. We want our employees to be able to bring their best ‘whole selves’ to work and truly believe in creating policies and initiatives that enable them to achieve just that,” says Emily Moore.

Other employers have been scrambling to offer their employees some major perks to stand out from the crowd and entice newcomers or keep current employees.

Some of the incentives range from heartbreak leave, time off for cultural celebrations, free cooking classes, shares in the company and more time out when having a child.

Fintech company Finder introduced five days paid leave for life’s big events on top of its annual and sick leave entitlements.

The $56 billion Aussie design company Canva introduced a vibe and thrive allowance for all workers, which can be spent on everything from gym memberships, home office set ups, social celebrations, wellbeing and education.

Financial technology company, Iress, has introduced more leave for staff, who will be able to take up to six long weekends each year, with no impact on their current annual leave balance or pay.

Emerge Advisory