The EMA and nib health insurance have recently released their results from their 2022 Workplace Wellbeing Survey. This coincides well with Tyler Wren recently releasing our 2022 – 2023 Salary and Benefits Guide. Our findings from conversations benchmarking ourselves after the release of the guide are very similar to what the survey found. – Find our results here.
Interesting findings from the survey include:
- One in four intend to leave their job in the next 12 months
- People were leaving due to being overworked and not getting work life balance
- The main group likely to leave their jobs was 18 to 30-year-olds
- The number one cause of workplace stress is understaffing
- 73 per cent of respondents say that regular feedback and performance reviews are important considerations when looking at changing jobs
Everyone has been talking about how the Great Resignation has and will take the New Zealand legal industry by storm. So what can firms do to ensure their staff that are staying in New Zealand are happy and ensure talent retention is a priority?
Actionable things firms can offer to support workplace wellbeing
- It is evident that employees are looking for hybrid working options. Have you embraced this? Flexible start and finish times and work-from-home options are now the number one priority for employees, especially parents.
- Clear career progression and professional development programmes are essential to improve employees’ knowledge, skill sets and job satisfaction. Give your employees a sense of purpose and a roadmap for their future so they strive to progress. Set regular reviews to ensure employees are engaged in the business
- Salaries – Not all companies have the ability to stretch beyond salary bandings and not everybody is driven by money. Employees are looking for a combination of salary and other benefits. Benefits may include: extra leave, insurance subsidies and sign-on bonuses. Have a look at Sarah Kennerly’s recent article on – current recruitment trends.
- The lack of leadership is a key driver for employees looking elsewhere. People work for people. Are you approachable? Do you have an open-door policy? Are you proactive? Reactive management occurs when leaders don’t have time to plan, or they simply ignore the first signs of workplace issues. It is inefficient, stressful, and expensive. Proactive leadership encourages employees to be part of the change. It also ensures they are supported by their managers who understand the realities of their role. Be open to ideas; your employees are often your best information source.
- Finally, it’s been a tough couple of years. Ensure you are recognising and appreciating your employees. Retention starts with creating a healthy work culture and recognising people as individuals rather than replaceable parts.
The survey has highlighted that work is contributing to negative well being physically, socially, emotionally and behaviourally. There are a number of different ways you can do things to help address your employees feeling this way and retain your staff. The Tyler Wren team are always available to discuss our top tips to ensure you are running a successful and productive workplace that supports your people and the long-term sustainability of your business. Please contact me if you have any further questions or would like a wider discussion – Stevie Doubleday at email@example.com or call (0) 9 930 9828.
Finally, here at Tyler Wren, we know good people know good people, if you refer someone to Tyler Wren whom we secure a new role for, we offer a voucher of *$600. Click here to refer a friend.