Page 8 - LBMAO - Reporter - Mar-Apr 2024 - web optimized

INSURANCE UPDATE

EMPLOYEE ATTRACTION AND

RETENTION

HUB INTERNATIONAL LIMITED

n a recent article in the March 1st edition of Benefits Canada written offers competitive pay and benefits, a supportive work culture that
Iby Sadie Janes, a survey by the recruiting firm Robert Half Canada promotes employee satisfaction, career growth opportunities and
reported that less than half (42 per cent) of Canadian employees have some level of flexibility will give your business a large advantage when
already started looking or plan to look for a new job in the first half of it comes to attracting and retaining talent.”
2024. According to Tara Parry, salary is one of the biggest motivators for
This is consistent from a survey conducted in mid-2023 and it is people to start looking for work, but when examining why workers
a reduction from the December 2022 high of 50% of staff who are stay with their employer, compensation is usually the last reason. Tara
actively searching for a new job or are considering making a change. states that, “Salary is a key driver to making people want to move, but
Tara Parry, Robert Half’s director of permanent placement services it’s not a key driver to making people stay. I think this is something
was quoted saying, “That number has come down [from 50 per cent in to be aware of because if [employees] are only there for the money
Dec. 2022], which tells us employers have done a lot to make people and no other reason, that’s where you can get into trouble.” A third
want to stay,” says Parry. “But I think if you dig into it a little bit, there’s of respondents to the Robert Half’s survey said they were staying
also some nervousness from employees about moving in a market that with their current employer because their current job offers a level
feels slightly vulnerable right now.” of flexibility they aren’t willing to lose (38 per cent), while 36% feel
Generally, Millennials and Gen Z’ers are the most likely to be fulfilled in their current role, and 30% feel well compensated for their
already looking or are planning to make a change. In the Robert Half work.
survey of more than 760 Canadian employees, almost 2/3rds of In Sadie Janes’ article, it is also interesting to read that more than
Millennials and Gen Z were most likely to make a change in 2024. This half (54 per cent) of hiring managers said they’re actively seeking
could be the result of several reasons, including improving flexibility talent for new roles, mostly to support company growth, while 64
(31%), compensation (47%), career progression (32%), and perks and per cent said it takes longer to hire now than a year ago, and they risk
benefits (31%). losing skilled people to competitors if they don’t speed things up.
When applying for job opportunities, Benefits Canada, August 11th,
2023, reports that employees are reportedly losing interest and either
withdraw or ‘ghosting’ because of poor communication from the hiring
manager, excessive rounds of interviews and the length of time the
hiring process takes.
In a Benefits Canada article from August 11th, 2023, David King,
senior managing director at Robert Half Canada and South America,
in a press release stated that, “Many employers continue to face
challenges with their recruitment efforts. Ensuring your company

8 LBMAO Reporter - March-April 2024 www.lbmao.on.ca