Five ways to attract workers in a tight labour market

A surge in job vacancies to a 12-year high has further highlighted the skills crunch facing WA businesses, with attracting and retaining staff a key issue for workplaces across the state.

Latest data from the National Skills Commission, released this week, shows job ads in WA increased by 110 per cent, or 14,500, in the 12 months to March, with 5,300 new jobs advertised in the past month alone.

With competition for workers growing, employers will increasingly need to review how they fill their vacancies, while minimising the staff turnover rate.

So what are some of the best ways to appeal to prospective and existing workers?

Our experts have highlighted five ways to attract and keep workers in a tight labour market.

1. Offer competitive remuneration

Create a solid remuneration strategy and obtain benchmarking figures from reputable sources to ensure consistency within the company and competitiveness in the market.  Ensuring gender pay parody is essential.

2. Attractive employee benefits

A good retention strategy for existing workers while attracting new staff is providing the opportunity for Flexible Working Arrangements.

Ensure this is covered within a Flexible Working Policy to ensure compliance and consistency across the business.

Other benefits may include additional leave benefits, salary sacrifice and health insurance discounts.

3. Alignment to values, vision and mission

Personal alignment to values feeds into the culture of the workplace and a sense of belonging.

When combined with an understanding and connection to a business’ vision and mission and how their role contributes to the success of a company, employees feel they will make a positive difference.

4. Learning, development and career progression

Ensure employees and their managers understand how they can broaden their knowledge and skills during their employment.

Offer options to learn new skills or take on different projects (passion projects or projects with stretch) that will further develop their skills to increase opportunities for career progression.

If there are pathways for them to move within the company, ensure they are clear. It is important to have individual training plans with goals set and reviewed on a regular basis.

5. Culture and engagement

Define your culture and ensure it aligns with your values, vision and mission.  A strong company culture attracts, retains and motivates everyone to do their best at work.

Staff engagement surveys, and employee participation in developing engagement strategies, will support an increase in employee engagement.

 

CCIWA’s Apprenticeships Support Australia can facilitate employment, manage training and offer support and advice to companies seeking apprentices to boost their workforce. Call ASA on 1300 363 831 or visit their website

More on how to plan for the skills required for your business can be found in our exclusive members-only Business Toolbox.

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