31 Mar Keeping talent happy is firms’ primary concern as Britain begins Brexit
It’s been a busy week on the Brexit front, with Prime Minister Theresa May delivering a letter to Brussels confirming Britain’s departure from the European Union. Looking at social media, you might assume that the implications of the decision are plaguing people’s thoughts right now – but for HR professionals, there are more pressing concerns.
In Alexander Mann Solutions’ survey of 3,000 senior HR professionals, the top concern – cited by nearly a quarter (23%) of respondents – was found to be retaining the best staff without large financial incentives. In comparison, just 9% stated that the uncertainty of Brexit is the key challenge they face.
The findings chime with a recent PwC report, which discovered that 81% of UK CEOs are placing an emphasis on improving their people strategies.
Jeremy Tipper, director of Consulting and Innovation at Alexander Mann Solutions, suggested that Brexit might be playing a part in firms prioritising talent retention, but said it wasn’t troubling them as much as the coverage would appear to indicate.
“Many UK employers are heavily reliant on talent from the European Union and further afield. If access to this talent becomes more difficult, if not impossible, keeping the talent you have will become even more vital to the success of UK employers,” he explained.
Tipper commended businesses for recognising that the chance to make a change, work flexibly and access multiple development opportunities, are now more important to employees than monetary rewards.
It’s not always been this way, but the growth of millennials in employment has played a significant part in what people deem to be a good place to work.
So, what steps are you taking to foster true employee engagement? Have you considered that your ERP solution has a role to play? ERP provides increased opportunities for collaboration and gives employees a platform to operate with greater efficiency – these are things that talent place a real importance on, as this new research shows.