STAFFING TOBOOST GROWTH
FROM RETAINING A MILLENNIAL WORKFORCE TO FINDING THE RIGHT STAFF, SMES FACE A NUMBER OF RECRUITMENT HURDLES IN 2019. YORKSHIRE BANK’S GROUP BUSINESS BANKING DIRECTOR, GAVIN OPPERMAN, IS HERE TO ANSWER YOUR QUESTIONS...
Q How can SMEs avoid costs associated with using external recruitment support?
A These costs need to be brought into the financial planning of any SME.
To avoid unnecessary costs, Yorkshire Bank can help SMEs look at the profitability of certain areas of the business versus the intensity of labour and can advise whether the high costs involved are still required.
Q How can SMEs keep high staff retention in the Northern region?
A Yorkshire Bank has found that employees working for SMEs in the Midlands are very loyal. Leveraging and maintaining those loyal relationships is key to staff retention.
Q How can SMEs best attract and retain a millennial workforce?
A There’s a number of ways SMEs can create a successful working environment for the millennial workforce.
The new generation value a healthy work-life balance. Understanding work hours, the way they turn up to work and the culture they prefer can make a big difference.
Social networks and social media are also being used to communicate more than ever, so incorporating this into the day-to-day environment is worth considering.
Q Why should SMEs adapt their staffing approach for the millennial workforce?
A The millennial workforce is requiring different things from employers. It’s very important to gain a better understanding of the generation that are being hired, what they want from employers and how they want to develop themselves. In this way, a high staff turnover can be avoided.
Q SMEs are generally hands on and time poor, so how can they find the right staff?
A Yorkshire Bank has found that new staff can often be introduced by current employees. Through these relationships, SMEs can find staff who maintain the same appetite as current employees.
Q How are SMEs in the North leading the way in staff management?
A In the North, Yorkshire Bank has found there’s been a lot of repeat business and repeat relationships that have been built strongly over the years. It’s quite robust and there’s a very good framework in terms of the contractual conditions employees are faced with.