The shortage of accountants in Malta is no secret. Over the past years, the country had to recruit over one hundred foreign accountants in order to meet the market demand.
Everyone looks forward and expects a pay rise throughout the year. That simple increase to an employee’s salary is the result of a delicate process called a pay review.
Another way of attracting new employees and retaining your top, experienced talent is by providing an attractive employee benefit package.
SurgeAdvisory Managing Director and HR Advisor, Maria Bartolo Zahra, together with Nicole Caruana, Founding Partner and Neuroscientist at Massivemind, delivered a workshop at the Annual FHRD HR conference.
The Situation
The client, which has been in the business for over 30 years, sought to up-skill the firm’s management team by better equipping them to lead their respective teams and above all, their strategic awareness.
Often than not, employers tend to consider annual leave as an inconvenience. However, if planned and managed well, annual leave can have positive effects on the company and its employees.
High staff turnover causes negative morale at the office. Demotivation and disengagement kick in, affecting the relationship with your customers, which will eventually affect your turnover and profit margins. All this leads to a serious negative impact on your company culture and also on your company’s reputation.
I was recently at a client and we discussed the importance of having a proper pay structure in place. The director explained that in today’s job market, they do not necessitate having one in place as they are constantly scrambling to pay more to entice prospective employees and/or retain their people.
Think of each and every job applicant your organisation has had over the years and consider how you handled each and every one of them. Did you ensure that the job applicant’s first impression of the company was positive? Was the experience of those who were not employed positive too?
In today’s job market organisations are facing the reality of an increasingly mobile workforce. The promise of a stable income is no longer attractive enough to keep employees from moving from one employer to the next.
