It’s a business cliché, but it’s true: your staff are your most important asset. So it goes without saying that you want the right people for your business – and you want to hold onto them. We asked principals, owners and managing directors of firms from across the UK about their staff, and they told us that keeping hold of valuable employees can be critical to the future success of their business. You probably agree with them.
Building the right team can also be challenging – particularly when unemployment is low and competition for the strongest candidates is high. So what’s the best way? Of course, rewarding employees will help you hang onto them. But reward goes a lot further than salary. Here are some examples:
It makes sense that your best employees will always be looking for opportunities to progress their careers. It’s only natural. So, to keep their talents focussed on growing your business and not someone else’s, make sure you’re able to provide these openings – so your best people don’t end up developing their careers with other firms.
Go with the flow
Flow isn’t just about money – it can also mean people. To keep your business moving forward, you need to make space for new talent. Create a flow of employees through your business, for example by enabling those over the age of 55 to retire when they want to.
So, you’re offering your employees a quality pension scheme. But are you helping them make the most of it? If you’re not, why not direct them to standardlife.co.uk (we can help you with materials to do this) where they can register to manage their pension online. Or, to run a campaign specifically tailored to your business, get in touch (remember that fees may apply, depending on your needs).
Reap the rewards
What protection benefits are you offering your staff to make your business more appealing than your competitor? It’s another reward that could make the difference when it comes to keeping hold of the right employees. Group protection could be a good way to compete for the strongest candidates when recruiting, or retaining, valuable employees, so speak to your financial adviser or email us at email@example.com to find out more.