A much needed warm welcome to you all this month, we can feel the Autumn breeze beginning to creep in and changes happening all around us.
Briefly looking back, September has been a busy one and for so many it feels like a reset month, perhaps pulling us all back to the memories of the new school year. Maybe you too feel a shift in energy as we focus on the last quarter of the year.
What are your reflections from the last quarter?
For myself, I recognised that work crept in over the summer months and compromised the time I had with the little P&M’s so I have set myself a vision to take more time off in summer 2024 and create better boundaries!
Now looking forward, I am back to studying, this time a Coaching Diploma in Intuitive Psychology and will be one of the first in the world to be trained under this new accredited programme designed by Jill and Sarah from IPA.
I often talk about how I found my purpose working in HR and with people, but I still strive to grow my knowledge to fuel my passion further. I look forward to sharing my learning with you in the New Year!
Will paying the big money keep your top employees?
We’ve noticed this as a common theme cropping up across the socials – is simply increasing wages the way forward for keeping your top employees? Making ‘big bucks’ seems to have dominated the world of work for a long time, the more you earned, the more fulfilled you would feel seemed to be the consensus. If we think back to Maslow’s Hierarchy of Needs, the bottom hygiene factors are shifting, fair pay with fair and valued working environment holds more kudos. This is a refreshing shift that is blooming, with the focus on ethics and values- forming a more positive workplace culture.
It’s becoming more prominent that turnover in businesses is on the rise and retaining staff is a challenge. The CIPD has recently reported an increased average rate of employee absences of 7.8 days per year, the highest in a decade, with stress related sickness being significant in short term absences and playing a leading role in long term absences.
So, are staff leaving for more money? Or a better life and balance? When you put it as simply as that, it’s seems luminous that a better life is becoming more endearing to employees.
Paying big salaries may be a thing of the past, creating packages which support people, cultures that nurture and leaders who are understanding is becoming more valued and attractive. Financial well-being is vital as part of your benefits and wellbeing offering, particularly amidst a cost-of-living crisis – we go through this in more detail in issue #6 of Espresso. We also head into the grit of this in our podcast Playing with Hire in episode #3 Life events: Managing People when ‘stuff’ happens and talk about the reality of the investments, risks and bigger picture side that businesses need to consider.
Have you seen any of these themes resonating in your business?
The big debate – Hybrid working for employees
Where do you stand on the Hybrid work debate?
We touched on this in the last newsletter – but with it being such an integral influence on workplace systems, we’re delving briefly into the history of hybrid working through to where we are now.
When broken down – we can see the stages of remote and hybrid working from the pandemic. When full lockdown hit, employers implemented remote working to help keep the cogs turning in business. This led to the training of managers on how to manage remote employees. We learned the benefits of Working from Home allowing employees to have flexibility and freedom from travel. We adapted and adjusted accordingly. It also heavily brought in to scrutiny the typical 9-5, 5 day work week.
Following the relief of restrictions, hybrid working came into action and this was a pivotal era for many companies – did they stick with hybrid or have employees return to the offices? Many employers went back on their original commitment to hybrid and the debate continues to the benefits of whether hybrid and remote outweigh the standard office work. Wherever you stand here, it’s important to comprehend how this effects your employees and what employees now look for – all of which impacts your business now and in the future.
Priorities have changed and flexible working is a highly sought after quality needed by so many families and those with external responsibilities. What are your thoughts on the hybrid work debate?
When life happens…
How does your company cope? What mechanisms are there to compensate for ‘life’? Are there exit strategies in place? Is there an annual percentage showing the results of staff retention and is that often reflected and actioned in future?
Life events can include anything from financial well-being through to bereavement all the way to retirement.
P&M consider the employee life cycle to begin from the moment the advertisement for a role is sent out to the exit of an employee from the business. Having foundations in place can move to ensure a safe, happy, and thriving environment and business. Employers can do this and employers should do this and not only because it is good for business, but they have a duty of care to their employees.
Does your company have strategies in place ready to mitigate the workforce when ‘stuff’ happens, because life is always happening for everyone.
We think hard and delve deep into this discussion in episode #3 of our podcast Playing with Hire where we put forward the discussion Managing people when ‘stuff’ happens because not being ready for the inevitable could be your biggest downfall.
We hope we’ve given you plenty to think over and consider and we’d love to hear your view on these topics – just hit reply!
Thank you for your congratulatory messages last month on our milestone, it makes our heart happy to see we have made such a positive impact on others.
While you are here, I was hoping to ask a little favour – I would love to hear about your experience of working with Peony and Magnolia. To make it a little easier, we have put together a feedback form which you can find here.
Thanks in advance and speak soon,
Alice
Founder
Peony & Magnolia