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Support for your business

Employee Engagement and Retention

Prioritising employee welfare has become more prominent in recent years, as employers have put more focus into ensuring that hard-working employees stay with their business, rather than seeking alternative employment.

The key to this is effective and consistent engagement. When engaged, employees are usually happier in their jobs and productivity is much higher. If employees are happy, they tend to stay with their employer for longer and on a more effective basis. Many employers choose to incentivise staff for these reasons, which can take the form of providing more holiday leave entitlement, a flexible benefits package or performance bonuses.

The key to engagement is to make the employee feel like a stakeholder in the business. They become more invested in it and feel that they are intrinsically linked to the success of the business and actively seek to work hard for the benefit of that business.

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Employee Engagement and Retention

Keeping employees engaged and productive is a perpetual challenge for employers. There are many ways to increase employee engagement, which can be as simple as involving employees in decisions about the organisation’s corporate and social responsibilities or encouraging socialising across all teams to build camaraderie and more efficient interaction across departments and disciplines.

Whilst it is very important to keep staff happy in the workplace, it is also essential to encourage a good work/life balance, where employees feel they are able to switch off and have a distinguishable boundary between personal and work lives. 

Another way to engage with staff is to invest in training and development. This is a key opportunity to make your staff feel valued and appreciated. The impact of this on-going education and development of employees within a business has a proven positive impact on the retention of valued members of a workforce. Not only can you help staff to achieve their own goals, but a business can foster talent promotion and retention. It is, in our experience and for many reasons, much better to retain, than to recruit.

Many employers try to incentivise employees with bonus schemes, and for those at a more senior level, with share schemes and incentive plans (for further information on share options, click here).  These may assist in providing key employees with a degree of ownership within a business. By allowing senior employees or a certain class of employees to acquire shares (or conditional options to acquire shares), you are wedding those key employees to the future of the business. The interests of employees and the employer are more aligned. 

The success of your business depends heavily on the people you employ. For this reason, businesses should consider how to best secure and retain the most effective and efficient team of employees. Our Employment Team is very experienced in assisting businesses achieve that objective by a number of means, or a combination of means.

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