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As a new year approaches, it is often a time when many people take a step back and think about where they are in terms of their career. Procurement should use that as an opportunity to look at how it can improve employee satisfaction and engagement to reduce the risk of talent being lost to rival companies.
Here are a few tips that could help you keep your very best talent in 2017 and beyond.
The most common way to monitor employee engagement and satisfaction is through staff surveys where employees input their views and opinions anonymously and the company analyses the results.
Surveys can though often be loaded with monotonous questions and are looked upon as a burden to employees already faced with a busy workload. Make sure you ask the right questions that are relevant to the organisation as well as the right number of questions. The data collected can then be used to benefit both parties.
To keep employees happy, companies need to put the right benefits package on the table. There are a number of packages that organisations can offer that meet most peoples needs and wants.
82% of job seekers would turn down a role if it lacked an attractive benefits package, according to research conducted by recruitment firm Adecco, highlighting the need to get it right.
The types of benefit packages offered by businesses are changing rapidly as wellness programmes gain popularity and healthcare costs continue to rise, particularly in the US.
Procurement Leaders Employee Benefits report found that there was a progressive shift going on in procurement from reactive to preventative employee benefits, such as gym memberships and health screenings.
While money is and will always be a big incentive for employees to look elsewhere, many organisations fall into the trap of thinking that it is the sole incentive to stay at a company. Yet, there’s a lot to be said for non-financial incentives. In uncertain economic times, offering higher salaries or expensive healthcare packages are not always viable options, so things like allowing people to work flexible house, work from home or to bring their own device can fill that gap.
Procurement can be a challenging career path to embark upon and so successfully engaging and supporting staff is critical to keeping the function moving forward and driving value to the rest of the business. Knowing what employees want from their jobs is not always obvious, but as the function looks to find ways of nurturing and retaining talent, it shouldn’t be afraid to listen to its employees.
This article is a piece of independent writing by a member of Procurement Leaders’ content team.