Talent retention is becoming a challenge in the current startup landscape. Startup Daily asked an Aussie unicorn, rising fintech star and modern HR platform how to handle it.
Talent is one of the hottest topics in the Australian and New Zealand startup ecosystem today.
Labor priorities have changed with the Great Retrenchment (or restructuring, as we’ve come to see it). Teams are more dispersed than ever. Combine that with the pandemic talent shortage and the recent market downturn, and you have a whirlwind of reasons why it’s getting harder to retain great talent.
But it’s not all doom and gloom. Startup Daily recently hosted a webinar, Great Retention: How to Keep Your Best Talent Now; In collaboration with HR platform HiBob, to see how the best are securing talent right now. Our panel includes:
Damien Andresen, Country Manager for Australia and New Zealand at HiBob, one of the world’s fastest growing HR technology companies. platform It drives productivity, engagement and retention for modern and mid-sized businesses around the world and locally for businesses like Airtasker, Ser, PXA and Novati.
Anna Wengren, Chief Public Officer at Safety culture, In the year A global technology company valued at $2.2 billion in 2021. Since Anna joined in March 2020, Safety Culture has grown from 300 to 550 people and has been recognized as a ‘Best Place to Work’ on four continents.
Lucy Chisholm Zeller’s Human Resources is an Australian financial services and payments technology business. Zeller’s Team has grown. Over 100 employees in the last 12 months.
They shared valuable insights around employee engagement, company culture and incentives that promote motivation and loyalty. Read highlights below or watch the full webinar here – registration is free:
Clarity in unclear times
According to Damien, companies are doubling down and taking a closer look at their strategies. Nowadays, one of the biggest concerns for any business and any employee is the role and stability of their company.
“No one knows where the market is right now,” says Damien. “Maybe we’re all just waiting for the other shoe to drop, but it feels like a pause and a big sigh of relief until we understand where everything is going.”
Because people ask questions, be open during the interview, says Lucy from Ziller.
“We’ve been really transparent with our current team and anyone coming in,” she says. “You can see we’re full steam ahead, but we know there are pressures in the market and we’re talking to people about them.”
When It comes down to hiring great tech talent, says Lucy, which is one of the most common blind spots for founders and leaders. Only Recruiting for the skill set.
“We’ve had great success hiring 80 percent of the skill set, and then we really dig into their perspective,” says Lucy. “Do they have a great attitude and growth mindset?”
Anna K Safety culture Companies with retention problems, he added, are typically derivative. Lack of transparency in the group.
“The more transparent they can be about what’s going on in the organization before they join the organization, the more they can open their eyes to solving problems,” she says. “It’s important if you want to have great people, the things you call your business and the values you put on your walls, you have to live and breathe all these things. Make sure there is an experience heard about it.
Improve employee engagement
With the global nature of the technology industry and hybrid work environments, engagement with teams here, there and everywhere has become that much more challenging.
According to the experts, the solution lies in the free flow of communication, and semi-regular feedback to refine the vision and strategy.
“You might be able to attract people with big paychecks, but when times get tough, they’re not the kind of people who will stand behind the business and help you get through those tough times,” warns Anna.
Taking a leaf out of his own book, Damien linked the teams’ positive engagement with HiBob to the platform.
“A year ago, I remote-boarded – 80 percent of my team I built here was remote-boarding. And we use Bob. [the HRIS – or HR tech platform] as a central place to come together,” says Damien.
The platform is designed for professionals and managers to work more seamlessly and effectively with modern and mid-sized organizations. it has Especially for milestone recognition, as well as bringing workflow, payroll, timesheets, performance management and real-time analytics into one place.
“It puts some of the control work in the hands of employees who want to be engaged,” Damien explains.
In Zeller, LRevenue and development is a key area for driving employee engagement. Over the past 12 months, Zeller has introduced an allowance for each to explore their professional development area.
“A team member says, ‘This is what I want to explore a little bit more about,'” says Lucy. “Then the leader and I will go in and help them where we need to.
Making relationships meaningful and value driven
As employees rethink why they get up for work every day and how they want to work, the role of business values cannot be understated. These days, it’s not just a marketing conversation about salary—emerging employees want purpose.
“It’s about connecting to the mission of the results and showing that people are still achieving their goals and feel supported in the role,” says Damien.
He added: “We’re talking more about bringing the authentic self to work and if that’s the case… there’s a fusion between the professional and the personal.” So I think supporting those two aspects and making sure that everybody has a real connection is really key.
As more people return to the office, Lucy encourages companies like hers to still offer the flexibility and balance to work from home.
“We’re excited to see the results of working remotely that we can see in person,” she says. “We will continue to listen to our team. We ask them for feedback.
According to Anna, the biggest change she’s seen over the past 20 years working in human resources has focused on “partnership in policing.” Like Zeller, SafetyCulture has recently invested in building a workplace that reflects the company’s values and philosophy.
“We want to create a space where people want to be in an inspired creation,” says Anna. “It’s left up to the teams to figure out what the hybrid means to them and what they need to accomplish.”
What the panel could agree on is that while hybrid working promotes a sense of freedom for workers everywhere, it’s important not to get stuck in your comfort zone — like your Ugg Boots and tracksuit bottoms.
As Anna eloquently puts it: “Don’t be rigid about flexibility.”
Watch the full webinar on this page or at Great retention: How to keep your best talent now.
Learn more about HiBob’s modern HR platform for productivity, retention and engagement and request a demo here.
This article is brought to you by Startup Daily in partnership with HiBob.
Feature Image: Provided.