Keeping your talent

Communication is key

The last tip for employers is probably the most simple – talk to your staff. Reynolds says a variety of problems can be overcome if companies take a few minutes to sit down and discuss potential trouble spots.

“Don’t assume because workers aren’t complaining that they are happy. My recommendation is to spend time with your staff and make sure you do understand what motivates them, and make sure they are in an environment where they can provide feedback on what’s working or not working.”

McDonald says his business regularly schedules meetings with employees in order to hear what’s on their minds.

“I think over the last 12 months the recruitment industry has seen a turnover of 66%, but we’ve kept ours under 10%. The biggest way we do that is every three months we schedule a meeting with each person, ask them to tell us what’s going on and then we deal with it. We might not always be able to rectify what’s wrong, but they can at least address it and bring it up.”

But Quinn warns businesses need to be careful when scheduling meetings, because they could exacerbate the conflict the meetings were meant to fix in the first place.

“The flipside of that is when you talk to an employee, say you’ll change certain things and then you don’t. Resentment is going to grow because of that, and then people will definitely leave.”

Why you’ve got no time to lose

The consensus of these experts is that the majority of workers are now at least on the look-out for a new job, and many have made up their minds.

And while many say there are tactics businesses should use to keep good talent from disappearing, Stewart says it may be harder than you think.

“There is a lot of built up frustration, because a lot of companies have employees who would have left but now haven’t. So I guess it’s going to be quite difficult for employers to even change their mind, because once you’ve made that decision it’s pretty much set.”

“The situation we’re in is that the window of opportunity has most likely passed, and people are just waiting for that opportunity. IT’s going to be very hard to make some people stay over the next six months.”

Reynolds agrees the next six months will be especially hard for businesses, but says they still have an opportunity to keep good people on. He says they must focus on good management, good people skills and a focus on what the employee can gain out of the job.

“I know a couple of businesses where the pressure has really been significant for the owners and managers, but it has become all about their survival rather than thinking about the people around them.”

You’ve got to think about how the environment impacts your people; it’s about good management, good communication and good leadership.”