Business managers are lying in bed awake at night thinking about how to build a motivated team in the wake of 2009. Yet according to the latest employment trends research, employees just want to be engaged in the business and know the role they play in driving success.
The Randstad 2010 World of Work Report has found the organisations that can bring these two factors together, and close the leadership gap, will be in the strongest position to put the storm of 2009 behind them.
The report finds the majority (46%) of New Zealand employees consider the most important attribute of an effective leader is the ability to create and share an engaging vision for the future that is owned by the organisation.
However, only 29% of employees rate the ability of their organisation’s leaders to motivate and inspire the workforce as strong in this area.
Deb Loveridge, Chief Executive Officer of recruitment & HR services company, Randstad, says, “Solid leadership that is clearly communicated is vital to the success of any organisation.
“It’s one thing to be a manager and have all the raw materials that make a great leader, but if you can’t communicate your vision and get people on board, you are never going to realise your company’s goals.”
When asked to rank the three motivators to perform well in the workplace, employees responded their primary motivator is having a strong belief in the strategic vision and goals of an organisation (23%).
The second most important motivator to perform well is having a strong understanding of how their role directly contributes to achieving organisational goals (17%).
Twenty-four percent of respondents cite the third most important motivator as receiving a competitive remuneration package.
“There is often the assumption that salary is the main driver to encourage staff to be productive, however you can’t underestimate the intangible motivators,” says Loveridge.
“A belief in the company, its values, and its vision can be an extremely powerful motivator, especially in tough economic times.”
Attracting and retaining top talent
Having secured that amazing employee who is perfect for your organisation, how do you keep them?
Loveridge says, “When a new employee joins an organisation, they are inducted into the company’s vision, values, what the brand stands for and what it means to be an employee in the organisation. This is the employer brand promise and it must be upheld to ensure the new employee buys into the company’s vision.
“Then, once a new employee is settled into the role it is important to continue encouraging them, reinforcing these values and delivering on your promise.”
The majority (53%) of New Zealand employers believe their single biggest reason for successfully attracting talent is having a strong company reputation and employer brand.
The primary reason why employees remain with an organisation is because they feel engaged in the business and morale is high (23%). Company reputation/employer brand is considered the second most important reason to remain with an employer, according to 18% of respondents.
“Managing and retaining talent in an organisation is very similar to how any business should treat their customers - you might be able to get them in the door, but if you can’t look after them, they will go elsewhere and share their negative experience,” says Loveridge.
Is Australia the lucky country?
Only 45% of New Zealand respondents enjoyed a pay increase in the last year (a drop from 78% in the previous year), whereas more than half (59%) of Australian respondents have seen their salaries increase.
“New Zealand experienced a tougher ride with the downturn compared to Australia and salary increases is one indicator of this. If employers don’t have the money they simply can’t afford to reward staff, whereas in buoyant economic situations they might.
“It is important to recognise good work in ways other than just financial, and to remember to reward loyal employees when times improve,” says Loveridge.
Almost two-thirds (61%) of New Zealanders hope to receive a pay increase of up to 4% in 2010, whereas fewer Australians (52%) expect a similar pay rise.
More than one-quarter (27%) of New Zealanders expect a pay increase of 5-10% and 13% expect a pay rise of over 10% in the next 12 months.
Just under half of New Zealanders and Australians, 44% and 46% respectively, expect a bonus this year.
Hiring intentions
The outlook for the next 12 months is positive with 79% of employers looking to hire full-time, permanent staff as needed.
Forty-six per cent of employers intend to hire contract or temporary staff to supplement their workforce – creating nimble organisations with the capacity to scale up and down to meet business demand.
There is good news for graduates in New Zealand, with 22% of employers intending to hire graduates, apprentices and trainees.
Media Contact:
Natalie Waldman
Group Communications Manager
Randstad
Tel: +612 8258 9625
nwaldman@randstad.com.au