After navigating a tumultuous two years due to the global pandemic, supply chain disruptions and staff shortages, small businesses in Australia have come face to face with another major challenge in the past few months – inflation.
In June this year, the Australian Bureau of Statistics (ABS) reported that the annual Australian inflation rate had risen to 6.1 per cent. As Australian small-business owners began to adapt to increased prices, Treasurer Jim Chalmers delivered another blow in late July, with the prediction that inflation would rise to a whopping 7.75 per cent in December, the country’s highest annual inflation rate since early 1990.
Simultaneously, the government revealed that real wages will continue to be outpaced by inflation at least until the second half of the decade, placing immense pressure on the shift workers that staff many small businesses around the country. With these workers being tempted to move into other industries for higher-paying jobs, and as the influx of international workers grinds to a halt, it has become imperative for small-business owners to create workplaces with positive cultures in order to keep staff retention numbers high.
1. Provide predictable work schedules
Many women and baby boomers have taken up shift work to accommodate current market conditions with unemployment at an all time low. These workers often have to juggle their shifts with caretaking responsibilities, making it difficult for them to pick up shifts at the drop of a hat. This gives employers who are able to provide predictable work schedules an advantage where staff are given two weeks notice of their upcoming shifts.
This limits unnecessary schedule changes to emergency situations only. Employers can also plan ahead for busy periods by scheduling extra staff in advance so that workers don’t find themselves having to work overtime without prior notice.
2. Provide flexibility
With staff shortages plaguing many industries, employees have more choices than ever before about where to work. This means allowing flexibility is crucial for employers to avoid staff turnover. Once employee shifts are scheduled with two weeks’ notice, give them a few days to swap shifts with their colleagues, should they need to. A good rostering tool is crucial here, as it allows employees to set their availability beforehand, and to swap shifts easily. On the business end, once shifts have been swapped, it’s important to also approve them quickly and schedule workers to fill any gaps in shifts to ensure you avoid a last-minute scramble for staff.
3. Action on employee feedback
Research has shown that engaging your workforce is key to ensuring workers are more productive, present, and in tune with the needs of their customers. In fact, a highly engaged workforce can even boost profitability by up to 21 per cent. It’s important to create an environment where your workers feel empowered to provide you with feedback and share their thoughts on what can be improved to ultimately contribute to a positive working culture. A feedback or sentiment tool will allow you to collate this feedback regularly and anonymously. It is important for business owners to take this feedback into consideration, and create action plans to implement changes to the business accordingly. When employees feel heard, they are more likely to become invested in your business’s success and will be motivated to stay with your business for longer.
As small-business owners weather the storm caused by a multitude of global factors, simple changes to your business processes will make all the difference to shift workers, who are having to work longer and harder than ever before. Making sure your employees feel valued and providing them with predictable and flexible work schedules is key to employee retention.
