UK Employee Confidence is Down – Here’s How to Attract Talent Anyway
Gartner’s Global Talent Monitor report for the fourth quarter of 2018 showed that employee confidence declined in the UK. For Brian Kropp, Gartner HR’s group vice president, this means that attracting talent is going to be particularly challenging. Employees will see more risk in changing jobs than staying in their current one, regardless if they’re happy or not. “This is a result of businesses hiring and firing on a last-one-in, first-one-out basis during tough times,” he said. Mirroring this insight, employees’ active job-seeking fell by 7.2% from the third quarter of 2018. So why has employee confidence dropped?
Contrary to popular belief, Brexit is only part of the reason. It’s true that Brexit impacted the political and economic outlook in the UK. And with April 12 fast approaching, the job market is likely to remain uncertain. However, the decline in employee confidence is also happening all over the world. But recruiters need not despair too much. The reluctance to change jobs doesn’t mean employees are satisfied with where they are. Despite the sharp fall in employee confidence, here are three ways to keep attracting talent.
1. Present clear career opportunities
The job market may be uncertain, but some employees are still unsatisfied with their jobs. For many, this could be what determines if they’re willing to take the risk with a new employer or not. Notably, 45.6% of departing employees in the UK cited the lack of career opportunity as the reason they left. Also, 37.4% said that the lack of personal development was a dissatisfying attribute of their previous employer. This suggests that the way to attract new talent is to present them with clear career opportunities from the moment they are onboarded.
When pitching to a prospective hire, let them know that your company provides the right guidance and advancement opportunities. According to global recruitment specialist Michael Page, 45% of Brits have never asked for career advice. It’s important to open up this venue to keep them engaged with their work. The same study revealed that 34% of Brits believe they missed out on opportunities due to lack of career guidance. All this indicates that effective onboarding, mentorship, and development programs matter to employees, regardless of industry.
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2. Reward dedication and talent
Increasing your attractiveness as an employer during a low employee confidence period means understanding what matters most to them. For many employees, your willingness to reward dedication and talent can make or break the decision. Companies that value their employees’ contributions will attract talent no matter the economic climate. Conversely, failing to reward employees triggers their need to seek a career elsewhere. You can reward dedication and talent in several ways.
First, reward employee attendance. Tardiness can mean disruption and a loss of profit for many companies. Shifts missed by several minutes cause chaos, especially in the service industry. Incentives for punctuality are typically received better than deducting pay for tardiness. That’s why giving out rewards works wonders for morale. Besides punctuality, it’s important to celebrate milestones of individuals and teams. Small tokens of appreciation go a long way in showing how much you value your employees.
3. Incorporate technology in the workplace
Most employees across all age groups value the efficiency that technology brings to the workplace. But Millennials, who will make up 50% of the workforce by 2025, expect technology to be integrated into day-to-day activities. Gen Zs, who are now entering the workforce, have an even closer relationship with technology. These younger generations are not homogenous but they are increasing the demand for automation in all industries. Companies can leverage apps and other modern tools to attract new employees and empower them to do their jobs well.
One way to integrate technology is through a dedicated work chat app. Tanda Chat, for example, lets you publish shifts, acknowledge progress, and deliver feedback. You can even share team updates to ensure that everyone is on the same page. Another way is to introduce GPS technology to track attendance. This helps to ensure you pay mobile employees accurately wherever they are. You can monitor your employees’ clock ins, breaks, and clock outs on one cloud-based platform. These are just two examples of what workforce technology can do for your business.
Stay attractive all year round
Employee confidence has taken a dive in the UK. In the age of information, local and global economic trends affect individual decisions in fundamental ways. But while you can’t control employee confidence, you can control how you are perceived by talents. Companies that present career opportunities, reward dedication, and integrate technology into work tasks stay attractive regardless of trends. And leveraging technology allows you to deliver what employees want most.
Investing in workforce technology not only increases your attractiveness to top talents but it also lets employees grow with your business. Today, there is software that allows you to schedule employees, communicate changes, and process payroll at a fraction of your current administrative cost. Employers also benefit from the efficiency they bring to the table. And best of all, workforce software safeguards your business by keeping you up to date with changes in the business environment.