The cost of living is on an ever-increasing upward projection, with day-to-day essential living expenses for many becoming untenable. Coupled with a significant risk of falling into a summer recession, people are starting to feel the pinch. 
For many lower-paid workers, salaries simply don’t cover the cost of basic living and essential day to day bills; even for those that consider themselves ‘lucky’ to have had a pay rise, this is still lower for most than the rise in inflation. 
As a result, employees are on the move, but what can you do to minimise the impact on current employees and retain that talent alongside increasing your talent attraction? 
Ensure salaries are competitive and fair in the current market - engage in a full salary review and with a meaningful benchmarking report across the whole business 
Flexible working - our data shows that offering a truly flexible approach to working can significantly increase retention and attract talent 
Health and Well-being support - putting in place an employee-centric EAP package that includes financial planning and support 
Employer brand and EVP - ensure your employer brand and EVP reflect your business and potential employees are clear about what you can offer other than a basic salary. This matters now more than ever before. Potential employees want companies to be upfront with the details. 
Need some support?  
Let us help. Our Talent Partners can help your business navigate the difficult times ahead with dedicated support tailor-made to your requirements. 
We can help, coach, and guide companies to attract top talent and work out great and effective processes, support your employer brand and develop sustainable solutions to finding and retaining the people you need. Get in touch. 
View out talent services here: 
Share this post:

Leave a comment: 

Our site uses cookies. For more information, see our cookie policy. Accept cookies and close
Reject cookies Manage settings