{"id":52,"date":"2018-01-25T11:00:58","date_gmt":"2018-01-25T11:00:58","guid":{"rendered":"https:\/\/dixon-appointments.ap.applyflow.com\/employers-recruit-news-4-retention-strategies-for-todays-workforce\/"},"modified":"2024-12-12T19:02:08","modified_gmt":"2024-12-12T19:02:08","slug":"4-retention-strategies-for-todays-workforce","status":"publish","type":"page","link":"https:\/\/www.dixonappointments.com.au\/employers\/recruit-news\/4-retention-strategies-for-todays-workforce\/","title":{"rendered":"4 retention strategies for today’s workforce"},"content":{"rendered":"

\n\t4 Retention strategies for today\u2019s workforce<\/h1>\n
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\n\t\tby James Muskett\"\"<\/h4>\n

\n\t\t\u2018Good\u2019 employee retention like most business strategies, is a constantly shifting goal post.  As the generational spread of the workforce continues to broaden with 5 generations currently working, diverse values means we need to take a broad approach to retain our good staff.<\/p>\n

\n\t\tAccording to research by McCrindle<\/a>, the average tenure in a job is now just 3.3 years; though this does vary according to age and roughly aligned with the 5 generations.<\/p>\n\n\n\n\n\n\n\n\n\n
\n\t\t\t\t\tGeneration<\/th>\n\n\t\t\t\t\tAge<\/th>\n\n\t\t\t\t\tAverage Tenure<\/th>\n<\/tr>\n<\/thead>\n
\n\t\t\t\t\tGeneration Z<\/td>\n\n\t\t\t\t\tUnder 25 years<\/td>\n\n\t\t\t\t\t1.66 years<\/td>\n<\/tr>\n
\n\t\t\t\t\tMillennials, aka Generation Y<\/td>\n\n\t\t\t\t\t25 – 35 years<\/td>\n\n\t\t\t\t\t2.66 years<\/td>\n<\/tr>\n
\n\t\t\t\t\tGeneration X<\/td>\n\n\t\t\t\t\t35 – 44 years<\/td>\n\n\t\t\t\t\t4 years<\/td>\n<\/tr>\n
\n\t\t\t\t\tBaby Boomers and Traditionalists<\/td>\n\n\t\t\t\t\t45 – 65 years<\/td>\n\n\t\t\t\t\t6.66 years<\/td>\n<\/tr>\n
\n\t\t\t\t\tAverage<\/strong><\/td>\n\n\t\t\t\t\t <\/td>\n\n\t\t\t\t\t3.3 years<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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\n\t\tSo what can you do to maximise tenure and minimise the negative impacts of attrition?  Here are 4 simple, low cost strategies you can try\u2026if you are not doing them already!<\/p>\n

\n\t\t1. Offer flexibility<\/h2>\n

\n\t\tResearch continues to confirm that flexibility in employment arrangements is consistently in the top three most valued elements for employees and job seekers – across multiple generations.  Just be mindful that flexible arrangements is a bit of a \u2018catch-all\u2019 term and means different things to different employees and generations.<\/p>\n

\n\t\tWhether it be a policy around making it easy to attend to family emergencies or school activities, or opportunities to allow working from home or simply negotiating individual work hours, by being open to different employee\u2019s flexibility needs and even facilitating discussions around this, it reinforces your vested interest in your team\u2019s wellbeing, leading to increased loyalty to your company.<\/p>\n

\n\t\t2. Peer recruitment participation<\/h2>\n

\n\t\tMost interviews are conducted one-on-one with the hiring manager or with a panel of managers and decision makers.  Consider instead adopting a peer interview process which engages the interest and expertise of the candidate\u2019s future team.<\/p>\n

\n\t\tWhy do peer interviews work?<\/p>\n