Here at the South Australian Business Chamber, we have been reasonably consumed with the skills shortage for some time now. Following the Jobs and Skills Summit, skilled migration caps have increased, and students and pensioners have been given additional opportunities to join the workforce. For businesses struggling to attract the right workers, there are some immediate opportunities that do not rely on waiting for these changes to flow through. They concern your workplace and the incentives in place for your team.
We asked our members about the programs they offered to incentivise their staff in a recent the South Australian Business Chamber William Buck Survey of Business Expectations. Nearly two-thirds offered flexible work options, and over half provided annual pay rises.
Other incentives mentioned offer an excellent ‘shopping list’ of options for business owners to consider. Included are time-off-in-lieu, cash bonuses, gift cards, salary packaging, gym memberships, purchased leave, the opportunity for staff to buy into the business’s equity, income protection, and health insurance.
Regional members suggested petrol vouchers and subsidised accommodation – both very topical right now.
Many incentive ideas centred around training, which is perfect as an immediate benefit and a long-term investment in your staff. The incentive could be paid study and leave or as simple as free on-demand training courses.
One final incentive that ticks multiple boxes is volunteering leave. This allows your staff to spend time doing what brings them personal joy and satisfaction. It also becomes part of your organisation’s genuine corporate social responsibility (CSR) program.
With National Mental Health Month just around the corner, it is an appropriate time to focus on health and wellbeing opportunities for you and your staff. COVID-19 caused a significant mental health impact for up to 80 per cent of business owners (from our lockdown 2021 survey). We have had our members tell us how valuable this approach is, like Stephen Pisani from the Pisani Group who says it was ‘remarkable to see the increase in the productivity from staff who were happy and felt supported’.
If you are interested in expanding your staff’s health and wellbeing programs, attending the South Australian Business Chamber Biggest Mentally Healthy Breakfast on 27 October might b e a useful start. This event has become one of our most popular on the calendar as businesses bring their staff and use it as a catalyst for conversation and change.
