Best ways to keep employees, according to JobStreet

The pandemic has wreaked havoc on the Philippine labor market. Yet, as we transition to the new normal, many jobseekers have taken the chance to leave their current jobs and seek better employment opportunities aligned with their preferences and values.

With this, leading online job platform JobStreet advised hirers to reevaluate their plans in order to retain talent, keeping in mind the priorities of their employees.

In a recent report on the state of HR in the country, 62% of hirers said that they had observed an increase in company resignations amid the pandemic. Not to mention that 67% of Filipino employees said they have chosen to prioritize their health and well-being over work based on JobStreet’s 2021 Global Talent Survey.

“The pandemic has introduced new perspectives when it comes to work, and there are a lot of factors why employees decide to leave their company,” said JobStreet Philippines Country Manager Philip Gioca, “It’s important for hirers to understand what attracts jobseekers to stay in a company and craft a win-win situation for both sides to achieve their goal of keeping their quality talents within the organization.”

Prioritize skills and career development 

Job security is one of the top drivers for many jobseekers, so it is advised to be clear with the company’s goal especially when it comes to the overall development of their talents.

Many employees genuinely want to do better at their jobs and contribute materially to the organization’s success. JobStreet recommends employers help their talents and also spur their company’s growth by investing in training and skills development, not just for some but for all.

Providing opportunities to climb the corporate ladder also boosts employee morale. Identify career paths appropriate to each person, and give guidance on how they can manage the journey and reach their dreams. JobStreet suggests assigning mentors who can share advice and life stories that will help employees learn and grow as workers and individuals.

Build a better compensation and perks scheme

Truth is, compensation plays a big role in keeping employees satisfied and motivated—having clear and definite guidelines for the proper increases, in the long run, gives them something to work toward and look forward to.

According to JobStreet, it is important that the organization’s compensation framework and its incremental increases are clearly explained to the talents for transparency. Consider giving holiday bonuses and gifts that your employees will be happy with, and create other times of sharing throughout the year such as company milestones, anniversaries, and founder’s birthdays. Be sure also to reward employee achievements with bonuses along a set scale, for fairness.

Embrace hybrid work

Working from home has undoubtedly worked for most industries, and employees are contemplating whether they could stay in a job that would require full onsite work. On their end, they see the advantages of saving money on gas and transportation, food, clothes, and other expenses associated with reporting onsite.

Given this adjustment to our way of work, JobStreet advocates hybrid work—allowing employees to work remotely and, at the same time, retain face-to-face interaction within the organization. Consider giving employees, who mostly handle knowledge management work, the opportunity to work completely remotely or go onsite only a few days a week or even a month.

The pandemic showed that it is possible for an organization to thrive working almost fully remotely, as was the case with BPOs in the Philippines – the industry grew 10.6% in 2021 compared to 2020. As of January 2022, the average ratio in the industry is 64% remote work, while over 100 companies operate on a 90-100% remote working arrangement.

Working from home is now part of the new normal way of doing things. Moreover, the hybrid model becomes the company’s business continuity plan because, at any given time, they can continue their business as usual.

“We understand that hirers are taking advantage of the post-pandemic setup to fully recover and bounce back from the pandemic. However, they must also take into consideration the current priorities and preferences of their talents for their business to continue growing and thriving in these times,” said Gioca.

To learn more about building your team and finding quality talents, visit https://www.jobstreet.com.ph/en/cms/employer/.