BUSTING THE MYTHS ON TALENT RETENTION

Recruiting talented people costs money, so losing them is to be avoided if possible. But with a shortage of skilled people across many industry sectors, how do Human Resources deliver the people a company needs to thrive, and then keep them?

Is talent retention all about the money and the perks? What else does it take to attract and retain good people?

We asked HR professionals across the region for their views on this hottest of topics

Is talent retention all about the money?

Caroline Taplin: “My view is “know your people” as we all have different motivators. For some, material gain and wealth will be important, especially at certain stages in life and moving for money might be a key consideration. But not for all.

“One common motivator is learning –many people like variety and to learn new skills. The most talented person will want to continue in their personal and professional growth and know that they are achieving. A good employer will offer opportunities which best suits such an employee. That could be training programmes, job enrichment or a job move within the business. A big part of our culture at Ecclesiastical is social purpose and the amount of volunteering and fundraising opportunities we offer to employees.”

Claire Hill: Money is not always a motivator – more likely is the opportunity for career advancement and work-life

CAROLINE TAPLIN HR Director at Gloucester-based Ecclesiastical Insurance Group. Ecclesiastical employs more than 1,650 staff in the UK, Ireland, Canada and Australia. Around half are based at the Group’s Gloucester head office

CLAIRE HILL Principal at Worcestershire-based consultancy Hill HR Services

TRACY EVANS Group HR and Quality Director at Pertemps, Meriden in Warwickshire

SHELLEY GUNNELL Chief HR Officer at Worcester-based software development company Titania

SAMANTHA STEW HR Lead at manufacturing company Spirax Sarco, Cheltenham balance. Baby boomers (born between 1946 and 1964) are largely motivated by money, perks and positions of authority. Generation X (born between the mid-1960s and 1980s) are motivated by flexible schedules, wellbeing, recognition and monetary rewards. Gen Y (1980-1994) want learning, opportunities and good working environments and Gen Z (1995-2015) are motivated by socialisation, mentoring and constant feedback.

“Often it is the company culture that retains good people.”

Tracy Evans: “It’s a job seeker’s market. Competitive pay and good benefits are a common factor that contribute to employee decisions, but they are also looking for a strong company culture where everyone is truly valued.

“Millennials are currently the largest generation in the workforce. According to Bullhorn’s Global Recruitment Insights and Data, 45 per cent of UK recruiters consider millennials the most difficult generation to engage with and hire. It’s crucial to remember that their expectations include different workplace values and objectives. Employers need to understand their goals and aspirations to offer tasks and projects that give them a sense of entitlement.

“Within such a competitive environment, companies need to shift their focus on the values of their employees, rather than focusing on what the company has to offer.”

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