Retaining staff can be a challenge, especially as the economy nears full employment. With Gen Z entering the workforce – often with higher expectations of staff wellbeing, flexibility, corporate values and environmental and climate practices – employers have been remoulding workplaces to better attract and retain staff.
So how do organisations stand out when the competition for talent is fierce?
Barry Winkless, recruitment firm Cpl’s chief strategy officer and head of the Future of Work Institute, says employers are increasingly innovative when devising recruitment and retention strategies and initiatives.
“There is an increased focus on ‘employee value propositions’ and purposefully designing the overall value given to employees,” he says. “This covers everything from compensation to benefits like flexible working, other additional benefits like discounted services, learning opportunities and very clearly defined career pathways. In general, there is a move towards a total approach to retention.”
Coupled with this, Winkless notes, is a growing trend of deploying employer brand and marketing campaigns to “forensically” target the talent that organisations need to succeed.
“Organisations are really starting to own and strategically deploy their image to prospective employees whilst also activating new ways of working beyond permanent employment – like temporary working and contracting – to attract an ever-diverse potential employee base,” he says.
However, research carried out recently by the Future of Work Institute suggests that, across all generations, compensation and benefits still top the priority list; for almost two-thirds of survey respondents it was their number one or number two priority.
Among under-35s, more than 21 per cent saw employee experience as their number one priority.
“Work-life balance, meaningful work and wellbeing support were all highlighted within employee experience as important when considering joining an employer, and indeed staying with one,” says Winkless.
While purpose-driven organisations are important to younger employees, even for them such considerations ultimately lag behind compensation and benefits, and employee experience.
“In fact, we see that cost of living and happiness are the main driving factors for younger employees,” Winkless notes.
And while companies may plug their EDI and sustainability credentials, he says, the research shows that neither is a key factors driving interest in an employer. However, a huge increase in the importance of leadership and culture has been observed.
“From our research across all age categories, culture was highlighted by 53 per cent as being the number one or number two priority when selecting an employer,” says Winkless.
Ciara Corby, head of talent development with EirGrid, agrees that culture is pivotal when it comes to retaining employees. “Our purpose attracts people to the organisation; our culture ensures people stay,” she says.
As the climate crisis becomes more acute, the demand for skilled professionals across the energy sector is rapidly growing. Corby says a mix of strategies, including flexible working and career development, is helping the operator and developer of Ireland’s electricity grid to attract and retain the skilled staff it requires.
“Our commitment to hybrid working, flexible hours, educational support and inclusion are all part of EirGrid’s efforts to foster a culture of innovation and work-life balance,” she says. “Employees have the flexibility to work from home up to three days per week and our core hours mean they can commence work at a flexible time that enables them to balance their life outside of work.”
Corby notes that many of EirGrid’s staff have pivoted in their career or transferred internally.
“EirGrid provides education support to gain qualifications for the mutual benefit and growth of both the individual and the business,” she says.
For example, in 2023, EirGrid launched the Earn and Learn programme, offering successful applicants a chance to gain experience in a work environment without the need of a third-level degree. Its two-year graduate programme is also in high demand.
“By nurturing staff at every level, we ensure that we have a pipeline of talent for the future, which will contribute to the challenges of climate change and cleaner energy for the years to come,” says Corby.
