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November 14, 2019
Bailey Fisher hosted local business owners from across the East Anglian region to discuss the importance of employee engagement and retention as a crucial part of a company’s hiring strategy.
Inevitably, what constitutes employee engagement differs from business to business, and around the table it was apparent that investment was being made into a variety of objectives to offer a better employment experience. Training and development was a consistent theme, as was the opportunity to participate in charitable endeavour; clear and consistent leadership, direction and a sense of worth.
Business owners can of course benefit hugely from a happy and motivated workforce. Research shows that 39% of employees work harder if they are happy, and highly engaged employees are 87% less likely to leave than their less engaged counterparts. A challenge for the future appears to be understanding how to motivate current and future generations of workers where salary is already being seen as insufficient in itself to attract and retain talent. Workplace culture assumes greater importance, as does more frequent questioning of a business’s carbon footprint, its approach to flexible working and uptake of disruptive technologies. There is already a greater understanding and acceptance that people will change roles and careers more regularly, and this makes the case for having a strong sense of engagement and retention policies ever more important.
Our thanks go to Ian White, CEO of Beckett Investment Management, for initiating discussion, and to our event partners Peter Gale and Ellie Newell of C. Hoare & Co and Richard Lane of Farrer & Co.
Discussion took place at the Private Markets Dinner, part of Bailey Fisher’s Leadership Series.