“£150,000 starting salaries as firms fight for staff” – BBC Website 12th January
“Senior professionals could see 25% pay rise as companies fight to retain staff” – Guardian – 11th January
Is your business going to be able to overcome what is likely to be a big issue over the next couple of years? What is the reason for it? Sure, some of it is inflation, but not enough to justify a 25% pay increase.
The economy is running at near full employment. Across all sectors there is a skills shortage. Demand outweighs Supply. This has happened many times before but is it different now?
The key thing this time is that a large number of people have experienced a dramatic change in working conditions. Whether it’s work from home, hybrid working, full-time positions, or a combination, many people nowadays do not work the same way they did before 2020. Therefore, a lot of people find themselves in the situation where they are reevaluating where they live, where they work, and the balance of these. As a business owner there is just one question you need to ask.
What makes your team love working for you?
If it’s only the money, then it’s time to start writing some big cheques!! If you don’t fancy paying big bucks then it’s time to start making a list.
At the end of the year, we ran a survey that we do every year asking people what’s important to them. Here’s what we learned….
Healthcare and pensions fell to the bottom of the list.
And coming up top were:
- Clear and Consistent Policy on Where to Work – at home, in the office, or a hybrid model
- Feeling Part of a Team, being engaged – many people feel like they are alone and unloved
- Opportunity to Progress – Do you give your employee a future that they want?
Invest in your people and in their working environment. For some that will be at home, for the majority it is at least in part an office.
You should aim to make your office a destination where your employees want to work and feel part of a team.
It is crucial to design spaces in which people can meet and collaborate, work together, work privately, learn, and share – a variety of work settings is crucial to supporting diverse needs and manage the onboarding and training of existing and new team members effectively.
Your office should serve as the centre of your business. It should ooze everything that defines you, your dreams, your mission, and your culture.
Love Where You Work