Insights from UNLEASH World 2024
Last week, I had the privilege of attending the UNLEASH World Conference in Paris, where ShareForce joined HR industry trendsetters and thought leaders to showcase cutting-edge solutions. The event was packed with insights into the future of HR, emerging technology trends, and how companies are revamping strategies to attract, manage, and (hopefully) keep top talent from wandering off to the next shiny job offer.
A big takeaway? Everyone’s in on the talent acquisition race, using advanced tech to lure in the best and brightest. But while finding talent is crucial, keeping them around has become the real marathon. Spoiler alert: “culture” alone isn’t cutting it anymore. Turns out, free snacks and a ping-pong table just don’t have the same magic they once did.
For companies eyeing stability and growth, making talent retention a top priority might be as vital—if not more so—than hiring. This shift in focus will be pivotal to future success.
Staff Retention: The Real Adventure Begins After Day One
Hiring someone? That’s just the starting line. The real adventure is keeping employees engaged, motivated, and committed. In today’s market, where talent is as sought after as the last slice of pizza, you can’t just high-five them on Day One and call it a win. Employees want to feel valued, while employers need to get creative to keep that value around.
Long story short: competitive salaries alone won’t do it. Companies need to bring out the big guns—think incentives that foster a long-term relationship. That’s where ShareForce comes in, providing tools to boost retention through equity and deferred cash incentives. Giving employees a stake in the company isn’t just a bonus; it’s a way for them to invest in the company’s journey and feel part of its growth story.
The Magic of Shareholder Rights: Turning Employees into Partners
Research shows that employees who feel invested in their company’s success are less likely to head for the door. And what better way to make them feel invested than by, well…making them investors?
Employee share plans boost engagement because they give employees “skin in the game.” When employees become shareholders, they’re not just clocking in for the company; they’re working with it. This sense of ownership changes everything, aligning their personal success with the company’s success.
Even better, equity plans create a bond that goes beyond a standard paycheck. By linking part of their compensation to the company’s long-term growth, these plans nurture loyalty and fuel a desire to contribute to that growth. It’s like saying, “Let’s go the distance together!”—and in today’s competitive market, that’s exactly what companies need.
Read more about “Rewarding talent: A comprehensive guide to employee share schemes”.
A Call to Action for the HR Industry
As an industry, we need to do more than just compete for talent; it’s time to step up our retention game. Once we’ve attracted the best people, keeping them should become our top priority. Long-term incentives, like share plans, are a fantastic way to make this happen—giving employees a real stake in the rewards of their work and empowering them to contribute to long-term success.
Examples of companies successfully implementing share plans show how retention-focused strategies can build a more loyal, engaged workforce. Let’s take a closer look at how one of our clients, Kumba Iron Ore, a large mining company, transformed its approach.
Transforming Engagement and Ownership with Kumba Iron Ore
A prime example of how strategic share plan solutions can drive engagement and improve retention is ShareForce’s work with Kumba Iron Ore. ShareForce helped Kumba tackle some significant engagement challenges with their Employee Share Ownership Plan (ESOP). The previous setup struggled with efficiency and communication, making it difficult for employees to feel excited about participating. We stepped in with a tailored solution that didn’t just streamline the admin side—it also reduced operational costs. And with digital communication tools, Kumba’s employees could easily stay informed about their benefits, track their shares, and actively engage with the platform.
The results were impressive: employee participation shot up, and a genuine sense of ownership took root. Employees weren’t just participants—they became shareholders, invested in Kumba’s future. This partnership demonstrates how effective share plan technology can be—not only for retaining top talent but also for creating a more motivated, committed workforce ready to drive the company forward.
Read: Kumba Iron Ore Case Study
The talent race isn’t just about who crosses the finish line first. It’s about making sure they stay with you for the entire journey.
Michael Ketz
CEO, ShareForce
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