Learn how Tribe’s Global network of communications agencies and businesses attract, retain and motivate their employees during what some economists have dubbed the‘Great Resignation’.
With the Coronavirus pandemic easing in some countries, workers quit in record numbers in what some are calling the ‘Great Resignation’, with nearly 4 million people in the US alone voluntarily quitting their jobs in April 2021 ( CNBC ).
This month’s Tribe Intelligence Research explains how Tribe Members and Partners attract and retain talent, as workers around the world rethink how they want to live their lives post-pandemic.
The first question we asked our agency network was: How does your agency/business attract new talent?
The chart below shows that Word of Mouth/Recommendations is the number one method that Tribe Members & Partners use to attract talent.
Recruitment Adverts in job portals came in second place, with some businesses using different portals depending on the job vacancy. 15% of survey respondents use Employee Incentives. Social Media (in particular LinkedIn), a Company’s Website, a Company’s Brand Image, or Press Releases featuring new clients to attract new employees all came in joint fourth place with 8% each.
Employee recommendations have been one of the best recruitment strategies for businesses for a number of years and this research shows that this still rings true today. The bonus of this method in attracting new employees is that existing employees who know the company culture tend to refer people in their network who they consider will fit well with the company.
Interestingly, only 8% of survey respondents use social media to attract new talent. According to Glassdoor , a staggering 79% of people who are looking for a new job will use social media as part of their job search. There were an estimated 3.6 billion social media users worldwide in 2020, which represented approximately half of the world's population, according to Statista . Businesses can really reap the benefits of reaching a wider talent pool by recruiting on social media. These are just a couple of valid reasons as to why companies should place more focus on this medium to boost their recruitment efforts.
In question two, we asked: How does your agency/business retain talent? What do you do to reward and motivate your employees?
Training/re-training/upskilling/offering courses to employees came in on top. Survey respondents also explained that they offer yearly bonus schemes and reward hard work with fair salaries. One business explained that they create internal online polls to identify team players and popular colleagues who deserve to be rewarded. A great way for companies to pinpoint some of their rising stars in a fair and transparent way.
Looking at non-financial rewards, offering a flexible working from home policy came in at number one, followed by a host of creative strategies to reward and motivate employees such as; enabling staff to work with or manage high profile projects, giving recognition of good work in front of the whole company and celebrating important projects internally once they are finished.
Others have taken a ‘Wellbeing Commitment’ which includes giving staff a day off on their birthday and allowing early finishes on Fridays to boost morale. Giving your employees a vision of the future and arranging HR activities and meetings was also highlighted as being important, as well as ensuring your leadership team is open and available to questions from your employees.
According to health services company Optum , companies that provide access to employee health and wellness programmes are almost twice as likely to retain their employees. An interesting statistic and a big topic in the Tribe network at the moment, with the recent launch of our Tribe Global Wellness Handbook. Even if some staff don’t take advantage of this type of programme, offering it can still be an important retention strategy as it shares the message that your business cares for its employees.
Regardless of budget, there are lots of ways in which agencies and businesses can motivate and reward their hard-working teams.
Lastly, with recent survey findings showing millennials and Gen Z’s are more likely to consider quitting if employers aren’t flexible about remote working, we asked respondents: Are you witnessing a resistance to returning to work in your market?
The results are in… and we have to say, it’s a mixed bag.
The below chart shows the responses from some of the best communications agencies and business partners in Europe, the UK and US.
As you can see, the results vary based on survey respondents’ locations. In Greece, most agency employees are looking forward to returning to the office. The UK aren’t seeing a big resistance. One company has introduced a flexible working structure based on the success of maintaining business over the last 18 months and the proven efficiencies and savings, so will continue working from home indefinitely.
Over in Luxembourg, there is a resistance to returning to the workplace and employees want to keep advantages that were created during confinement.
It is evident from the research that in some markets, employees are looking for a work life balance – a hybrid model of working from home and the office. Now more than ever, it’s clear that companies need to make serious investments in their employees if they weren’t doing so already, whether that be in regards to wages, opportunities or mental wellbeing.
The second half of 2021 will tell us more, but we can be certain of one thing… independent shops are always adapting and changing to keep up with the latest developments in the industry and the ever-changing advertising landscape and are more than equipped to handle these workplace changes.
If you would like to discuss the findings from the research or find out more about the Tribe Global agency network, please reach out to Elaine Miller at: email@example.com
Tune in at the same time next month as the Tribe Intelligence Research dives into the topic of Sustainability!