Staff jumping ship? Here's a life-raft...
Frog Vibe - 1/04/2005
New Zealand employers need to realise that employees see them as commodities says Wave principal Greig Dean.
And once employers realise this and begin looking at retention strategies, they’ll be on their way to improving their bottom-line, says Greig Dean, principal of Wave. That’s a company which shows its innovative approach to business by describing itself as “business explorers, navigators and discoverers,” and that it just the beginning of a raft of stimulating ideas.
After 20 years in HR in Asia and the UK, Greig says that Kiwi HR people and CEOs with limited and New Zealand-only commercial experience are running bland businesses; and they aren’t getting the picture on the need for retention strategies.
“Retention hasn’t been an issue in the past but with the tight labour market now there is more talk of it.
“There are some very simple mechanisms which aren’t explored, such as part-time work, flexible working hours and telecommuting, and it would be a waste to ignore what are clearly innovative practices. “
Greig recalls a study done some years ago which showed that a customer service rep who left a telecommunications company after 18 months had cost that company nearly $100,000.
“So if you able to reduce your turnover, it makes a big difference to your bottom line.”
Greig points to Virgin founder Richard Branson as a prime example of a creative employer, and mentions a Christchurch company which recently took its staff to the Gold Coast as an incentive and a thank you.
“But there aren’t actually many who even attempt to make an environment different and exciting – and there are milder versions of people going to the Gold Coast, it’s a matter of finding what are the things that fire people up.”
Part of Greig’s business includes the multi-hulled, 40 foot SS George, refitted to operate as a base for management training and on which a variety of sessions can be held to test, for example, teamwork and leadership potential.
It’s an experiential learning model which gets people out of the office and into a user-friendly environment (multi-hulls don’t lean over!).
A typical agenda follows goal setting, task setting, on water skill development and work environment application in a completely practical way. No more theory, lectures or simulation – instead, fun, invigorating learning.
It’s now being used too by companies who simply want to take their team out for a day on the Waitemata.
And it’s just the sort of stimulation being demanded, Greig says, by the 22-38 age bracket - Generation X.
They’re looking for jobs which give their lives meaning, with action, challenge and fun.
“It’s a matter of providing broader responsibilities, not necessarily promoting people. With companies flattening, an employee might feel after a few years that there’s nowhere to go - but by making a role multi-functional, a company can provide a stimulating challenge.”
That, maintains Greig, is the way to retain key people, and improve that bottom line.
