Inspiring loyalty is hard, especially in this digital age. With potential new jobs just a click away, hirers face new challenges in retaining employees. This becomes especially difficult when employees expect to see a clear career progression, but the organisation is too flat to offer much upwards movement.
In SEEK Asia’s Job Promotions Report 2017, 53% of hirers in the region were reported to have no fixed budget. So what do you do when you have no fixed budget for promotions, but have limited promotion spots or long promotion wait times?
Here are 5 ways to motivate your employees when promotion aren’t an option.
1. Get creative
With modern employees placing increasing emphasis on non-monetary benefits, the possibilities are endless. You can offer exciting lateral job upgrades that allow employees to expand their skillsets and stretch their wings; you can even offer flexible opportunities such as variable work hours, opportunities to work from home, other lifestyle benefits and other career development options.
2. Show you care
Ask employees where they see themselves going next, and provide dedicated career advice and progression planning where possible. If they feel like they’re stagnating, something as simple as an inter-departmental career move could be enough to re-energise them.
3. Research, research and research
Study global and local trends. Every organisation is different, but there is a wealth of information out there for businesses of all shapes and sizes. Find the sweet spot that suits your organisation, balancing remuneration and non-monetary benefits to retain young, aspiring talent.
4. Level the playing field
Keep doors to internal promotions open to every deserving employee. If they fit the bill and have what it takes, promote from within.
5. Groom successors
Even when you’re not actively promoting at the time, you can set up a clear line-of-succession to let employees know where they stand on the corporate rung, and the steps and time it will take to get to the next level. Through active grooming and realistic, open channels of communication, employees can benefit from a set path that will allow them to plan their career and develop the skills they need for their next role.
There are a multitude of ways HR professionals can re-energise and retain their employees – all it takes is a willingness to reach out and go the extra step.
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