Running a business has evolved throughout the years, but one thing that has yet to change is the importance of recruiting and retaining staff. A survey from Mercer showed that in Canada, the average voluntary turnover rate stood at 11.9% as of September 2024. A business’s ability to build and maintain its workforce impacts its productivity and can harm its overall performance. Therefore, it is important to develop strategies for recruiting and retaining staff that create a workplace that empowers and creates meaningful work.
Offer Competitive Compensation and Benefits
Organizations offering competitive wages and benefits will likely have a higher chance of recruiting and retaining staff. Stay current with industry standards to ensure your salary and benefits packages align and are competitive with other businesses in your industry. Websites like Canada Job Bank are a great place to see how pay varies in different sectors. If you are currently recruiting for a position, remember to show your wages when posting positions, as all job postings by provincially regulated employers in BC must contain pay information. For company benefits, consider offering health insurance, retirement plans, and other perks that align with your employees’ preferences. If you already offer benefits, encourage your staff to make the most out of them before they renew for the year.
Champion Work-Life Balance
Work-life balance is a huge factor in employee satisfaction and productivity. According to a Statistics Canada 2022 survey, nearly 32% of working Canadians aged 15 to 74 reported that their work interfered with their home and family life. Employees can experience increased job dissatisfaction and burnout by not prioritizing work-life balance and potentially quitting their jobs. To think proactively, consider supporting your staff by offering flexible schedules, work-from-home options, sick leave or vacation time. To further support staff work-life balance, policies regarding after-hours communication should be considered to encourage employees to disconnect when their workday ends. In Ontario, Bill 27, the Working for Workers Act 2021 was enacted, which required many employers to create a policy relating to an employee’s right to disconnect after hours.
Prioritize Growth Opportunities
The desire to learn is a value that is important to many individuals. Bring the value of lifelong learning into the workplace by prioritizing and providing growth opportunities. You can support your workforce with access to professional development and clear career advancement paths within the organization. If staff members are interested in different roles in the company, including them on projects outside their department can help them develop new skills and deeper corporate knowledge. Finally, setting up consistent performance reviews for staff is essential for employees to review their strengths and potential improvement areas.
Provide Meaningful Work
A recent survey found that 48% of Canadians desire a greater sense of purpose in their work compared to pre-pandemic times. This indicates that employees want to join a company offering meaningful work. Meaningful work connects with employees’ values and interests. Providing meaningful work can be as simple as allowing employees support with decisions and input on projects outside the scope of their work. This can give employees a sense of ownership within their role and allow them to see how their role can support the company’s goals. Additionally, celebrating employees’ achievements, whether big or small, can boost morale and showcase the importance of their work.
Communication is Key
As the saying goes, “communication is key”. Communication can help create a healthy workplace and be a key indicator for a successful business. Having regular meetings within departments and entire organizations is important. Having an internal newsletter for staff updates can also be a great way to communicate or share organizational updates. Important company information like project updates, company goals, and financial reports should be kept in an accessible and secure space for all staff. Consider getting feedback from staff to see if there are ways you could improve your communication!
Give Back to the Community
Corporate Social Responsibility (CSR) benefits businesses, employees, and the local community. A recent Randstad report showed that 77% of Canadians actively seek employment opportunities with companies prioritizing CSR initiatives. By actively participating in social programs that positively impact your team, you can attract like-minded individuals who share your company values and build a loyal, dedicated workforce. If you want to collaborate with a non-profit and charity in Greater Victoria, you can visit Volunteer Victoria’s website to learn more. You can also find helpful tips on encouraging volunteering in your organization by reading our blog post.
WorkLink Employment Society proudly offers free employment services for local businesses. This includes using our Job Board, listings in our free e-newsletter, meeting space and hosting job fairs or information sessions to highlight your business. Contact us to learn more about our free employment services and resources: 250.478.9525 or info@worklink.bc.ca