It is no secret that engaging and retaining top talent remains one of the top three challenges facing leaders in the current economic environment.* So, I thought I would start with a good news story about one of our long-term clients.

This visionary business owner had a goal, to establish a sustainable team around her that would one day allow her to help over one million kids become better writers. She has since smashed that goal and her company has now helped over two million students.

Equipped with an image of what that future would look like, she already had in mind the type of team and structure it would take to turn that vision into a reality. Gradually and via careful selection to fill all the key roles, she would have a key team of dedicated people – and the right people.

That’s where our involvement came in. It was during those early days, when the company consisted of only three people, that we helped with the appointment of one of those key roles which happened to be the Marketing Manager. A strong candidate with the right mix of skills and experience. Someone who also shared the same values and vision as the business owner, and that was to make a significant impact on children’s literacy.

After that initial appointment, we continued to support the growth and development of the business, to the team of 20 passionate and talented individuals that it is today.

The Marketing Manager, I am delighted to say, is now transitioning to the role of CEO. And the business owner? She is now Executive Chair, working not so much in the day-to-day activities of the business, but set on expanding internationally. Oh, and she only works four days a week. The last postcard I received from her said she was on the Ghan, as she journeyed by train through the heart of Australia; living the dream!

I should also add that the same business owner and founder received an OAM in the recent King’s Birthday Awards, recognising her and her team’s remarkable contributions to literacy education. Not bad eh?

Curious to know more about this extraordinary business? Click here to discover who they are and their inspiring journey.

Welcome to our monthly newsletter, where we share our insights and tips for keeping and nurturing top talent. Drawing inspiration from the story above we’ll provide valuable insights to help your organisation thrive!

THE CURRENT LANDSCAPE FOR TALENT *

As the economy remains unpredictable and organisations grapple with employment law changes, the year 2023 has indeed introduced unique challenges in talent acquisition and retention. The anticipation of a short and relatively mild recession within the next six to 12 months, as projected by many business leaders, adds a layer of complexity for businesses to navigate.

Let’s explore the key factors shaping talent acquisition in this dynamic environment:

 

• Scarcity of qualified candidates in the job market: A recent report revealed that 44% of Australian employers believe their biggest staffing challenge in 2023 will be finding talent with the right skills.
• Increasing competition for top talent: Quiet hiring is helping companies combat external labour market competition, focusing on internal talent mobility and upskilling opportunities for existing employees.
• Influence of Technology and digital transformation: By reducing the time required to complete an application from 17 minutes to just 3-5 minutes, KinCare witnessed a major 60% reduction in candidate drop-off rates.
• Remote and hybrid work models: By 2023, 48% of knowledge workers will work remotely or in a hybrid arrangement, driven by a strong desire (98%) for flexibility, autonomy, and work-life balance.
• Impact of legislative changes: The legislative changes introduced in Dec 2022 through the Secure Jobs, Better Pay Bill, including flexible working requests, parental leave, and pay secrecy clauses, are the most substantial workplace relations reforms since the commencement of the Fair Work Act in 2009.
• Evolving candidate preferences and expectations: Top reasons for job searches include career advancement (52%), greater work flexibility/remote work opportunities (45%), and better company leadership (31%).

In these uncertain times, organisations often resort to cost-saving measures such as hiring freezes or workforce resizing to maintain financial stability. However, these strategies can lead to increased uncertainty and unexpected consequences, such as the turnover of top talent. So the question is: How do YOU mitigate such risks?

THE SECRET: UNLOCKING THE POWER OF THE FIRST 90 DAYS

The secret to engaging and retaining top talent starts at the very beginning by selecting and appointing the right person for the role. And this takes experience and a professional approach. But the real key to success is what happens after they start. 

Picture this: you’ve found the perfect candidate for the role, and you’re keen for them to hit the ground running. But their journey doesn’t end with the hire. That’s just the beginning.

What really matters is their employee experience (EX) in the first 90 days. Evidence has shown that this determines their ultimate success in the role. A seamless and engaging onboarding and induction process will leave a lasting impression and set your new employee up for success while accelerating their progress towards becoming a fully effective and productive resource.

 

The above actions not only enhance EX but also increase employee engagement, job satisfaction, and commitment. When employees feel valued, supported, and connected from the very beginning, they are more likely to thrive and contribute their best to the organisation’s success.

Ready to take your onboarding and induction process to the next level and create a positive experience for you and your new employees? Download our free onboarding documents by clicking below to unlock the secrets to a successful first 90 days. Empower your talent, boost engagement, and drive long-term success by integrating these valuable resources into your induction program. 

Click here to download our free onboarding documents 

 

 

WHAT OTHERS ARE DOING TO ENGAGE AND RETAIN TOP TALENT

Here are some inspiring case studies highlighting how our clients are successfully engaging and retaining top talent:

Case Study 1: Transforming Talent Development in Transport

Our client, a prominent player in the transport industry, recognised the importance of leadership development to attract and retain talent. With the support of Howardco, they embarked on implementing a company-wide succession and talent development program. This initiative aims to nurture the future leaders of the organisation through a tailored program that aligns with both the business objectives and individual needs. By investing in the growth and potential of their employees, our client is creating a culture of continuous learning and advancement.

Case Study 2: Fostering a Culture of Collaboration in Manufacturing

Our manufacturing client understands that building a culture of teamwork and collaboration is key to attracting and retaining the best talent. To achieve this, they have partnered with Howardco to conduct a comprehensive STAR Workplace Engagement Survey. This survey, which is currently being tailored to their business, is aimed to help them gain valuable insights into the needs and aspirations of their employees. Armed with this knowledge, our client will be implementing strategies to foster a collaborative work environment and align individual goals with the company’s objectives. By prioritising employee satisfaction and engagement, they are on their way to creating a workplace where talented individuals thrive.

Case Study 3: Empowering Childcare Workers Through Collaborative Leadership

Our client in the childcare sector recognised the significance of creating a collaborative and supportive environment to attract and retain top talent in the industry. To achieve this, they enlisted the expertise of Howardco to conduct leadership workshops utilising the DiSC methodology. These workshops focused on developing leadership skills, enhancing communication, and building strong working relationships. As a result, the childcare team experienced improved collaboration and service delivery. With clear goals and a cooperative work environment, they are now able to deliver the best outcomes for their clients while retaining their talented workforce.

These case studies highlight the impact of strategic talent management on engaging and retaining top talent. By investing in talent development, fostering collaboration, and providing leadership training, our clients have positioned themselves as employers of choice, enjoying motivated and dedicated workforces.

Implement effective induction and orientation processes to enhance the employee experience and increase retention.

Let us at Howardco help you unlock the potential of your organisation and create a workplace where exceptional talent thrives.