According to a recent statement made by Business Unity South Africa (Busa), “…economic recovery is continuing, but at a much more sluggish pace than anticipated.”
The organisation predicted that the economy will expand by 3.1% this year.
According to a recent statement made by Business Unity South Africa (Busa), “…economic recovery is continuing, but at a much more sluggish pace than anticipated.”
The organisation predicted that the economy will expand by 3.1% this year.
“Economic uncertainty has meant that many people have opted to stay with their current employers, rather than seek alternative employment where the principle of ‘last-in, first-out’ could be applied at any time,” says Kay Vittee, CEO of Quest Staffing Solutions – one of South Africa’s leading and largest recruitment companies.
“However, as the economy continues to recover, top-performing employees will once again be faced with choice. Thus managers would be wise to review and revise elements of their retention strategies, while ensuring their profitability, in order to further contribute to the growth of the economy.”
Vittee reveals that the main reason people change jobs is insufficient career progression. This is followed by the absence of new challenges, inadequate training or development opportunities and dissatisfaction with pay levels.
“By having an understanding of the common causes behind staff turnover, businesses can then adapt their strategies accordingly.”
“One of the ways in which business can tackle some of these is by relooking their staffing models. Internationally, for example, both businesses and employees are benefiting from flexible staffing arrangements. By matching staffing levels with business activity levels, companies can respond effectively to the changing dynamics of their industry, their customers’ needs and the economy.
"At the same time employees are given the opportunity to work in a number of different environments, broaden their work experience and establish a diverse skills base,” explains Vittee.
She continues, “This type of employment also lends itself to training opportunities such as learnerships, whereby in-classroom training is complemented by on-the-job learning.
"Experience has taught us that upskilling and learning reduces churn by between 20 and 46 percent. Furthermore, learnerships can assist businesses to comply with BBBBEE Code 400, the Preferential Procurement Policy Framework Act as well as Employment Equity and Skills Development Legislation. This assists in generating business opportunities, ensuring the growth and survival of the business.
Compliance can also provide a structured progression of learning that can mitigate legal risk. Added to this, research commissioned by the Services Seta shows that staff that have completed learnerships are more motivated, productive, can progress faster and stay longer.”
“We have also found that employees remain loyal when they know that their performance is accurately measured, properly recognised and rewarded.
Through providing performance management systems and incentives for work done well, employees are able to see that their behaviour has a direct bearing on their personal outcomes. Not only does this create a positive work environment, where they feel acknowledged and rewarded for their efforts, it also motivates them to be more productive, demonstrate positive on-the-job behaviour and deliver beyond the demands of their role,” shares Vittee.
“On top of providing tangible rewards and recognition, we have found that by keeping the lines of communication open and actively involving employees in the day-to-day decision-making processes of the company, they feel that they are valued and listened to, which contributes to increased production as well as retention and fosters a desire to see the organisation succeed.”
“By empowering employees with opportunities for growth, training and development, as well with rewards and recognition, companies are actually ensuring their future success and that of the country,” concludes Vittee.
