Employee turnover can have a huge negative impact on any industry, but the effects are even more damaging for the highly specialised construction, engineering, and infrastructure market. These industries face a variety of unique challenges. They’re not only competitive - they also face a longer workflow cycle due to projects taking months or years to complete. You can’t afford to have people leave in the middle of a project.
One of the most overlooked factors in the industry is the retention of key employees, which is why it’s so important to execute an effective retention strategy.
Engaging an employee retention program means your employees are not only motivated, productive, and happy. It also assists with reducing turnover and its related costs. After all - retaining a high quality employee is more efficient than recruiting and training a new one!
5 effective engagement strategies to ensure job satisfaction
Flexible work arrangements
Offering flexible work arrangements is a highly valued factor for your employees. Research from Roy Morgan conducted in June 2020 found almost a third of Australian workers (32%) were ‘working from home’ at the peak of the pandemic.
Unsurprisingly, some staff still wish to work remotely, which is why we see the continued trend of the hybrid model being integrated into the workplace.
Offering options, like working from home two days a week with the ability to switch days each week, allows your staff to create a work schedule that works for them. Your employees will appreciate having the flexibility to attend school activities or family emergencies - and reduce the sometimes unnecessary need to commute to the office or worksite.
Embracing flexible work hours or work-from-home policies promotes a healthy work-life balance, leading to better performance and strong loyalty for your company.
Acknowledge your employees
Acknowledging staff achievements is a vital retention strategy. Whether an employee reaches a milestone in the company or the team completes their tasks ahead of a deadline, celebrating and rewarding positive behaviour promotes a boost in morale and renewed commitment within the company.
Employee appreciation initiatives can include:
Public recognition - either via internal communication or during a staff meeting
Financial rewards - such as pay rises and bonuses
Annual awards - where recognised employees are honoured in front of their peers
Gifts - such as gift vouchers
Praising and recognising the efforts and achievements has a very positive impact on employee engagement. It should be adopted by every company as part of their culture.
Career pathways
Employees can become bored and unmotivated if they don’t have a clear career pathway or a career development plan. This is often a reason why they start to look elsewhere for work.
You can invest in your employees’ professional development through:
Mentorships
Training programs
Online courses
Providing additional duties or responsibilities
Job promotion
According to recent data sourced by LinkedIn, employees who are offered positions internally were linked to greater retention, even if employees are making lateral moves - rather than acquiring promotions.
Establish regular meetings with your staff to discuss their professional goals. You can help identify areas for growth and opportunities to upskill. If employees are not given opportunities to continually refresh their skills, they will be more inclined to leave.
Competitive remuneration
A good compensation strategy is critical for retention and recruitment. Paying well means you can retain and engage your top quality staff for longer, and most importantly, make your employees feel that they are being valued.
To ensure the compensation is fair within the industry, re-evaluating salaries annually may be helpful. If your business is not in a position to increase pay, consider offering other forms of compensation like bonuses, paid time off, and health benefits to help increase your employees’ job satisfaction.
Establish clear and open communication
Creating an environment of open dialogue in the organisation is critical for retaining top tier talent. It’s important for your employees to feel that they are ‘in-the-know’ by updating them on vital developments or projects within your company.
Empower staff to freely ask questions, raise concerns, and provide feedback. This collaborative approach is beneficial not only for management, but it also helps employees feel connected and accountable.
Conclusion
Without question, money retains people, however there are other methods of retaining your staff. Employees want to be appreciated, have access to tools to succeed, and have assurance that there is room to grow in your organisation.
Utilising the above retention strategies will help increase your employees’ job satisfaction, retain invaluable staff, and foster an attractive workplace culture.
About CGC Recruitment
CGC Recruitment is a specialist construction, infrastructure, engineering, and architecture recruitment consultancy. We view our clients as our partners and work closely with them to meet their business needs. We work with some of Australia’s largest construction brands through to specialist SME’s and boutique consultants. We have proven experience delivering permanent, contract and retained recruitment solutions, consistently providing the right candidates for the right roles at the right time.
If you have an active role you’d like to discuss or just want to talk to a specialist consultant, please contact us. Alternatively, you can complete our online client form and a member of our team will contact you.
