.png "A Focus on Employee Retention- 2023 Agriculture & Food HR Review")
Rachael Powell
November 17, 2023
Newsletter ArticleAgCareers.com recently released the seventeenth edition of the Agriculture and Food HR Review. While in previous years many companies reported that finding talent was their top priority, companies have shifted that focus to retention in 2023.
In both the U.S. and Canada, companies reported that the primary tactics for retaining staff are through regular pay increases for current employees, hybrid or remote options, and flexible schedules. Many of the tactics that employers have used to hire and attract employees in recent years continue to be some of the top methods to retain them as well. Employee retention can also be impacted by job factors that are likely to keep an employee motivated in their role. The two top strategies for keeping employees motivated and challenged in their roles were the use of bonuses and training and development. A bonus can reinforce and entice good performance, while training and development can be necessary to achieve results, as employees are equipped with the tools they need to be successful.
Flexibility in the workplace continues to remain a theme for employee retention as well. Flexibility will look different in all organizations and may even mean something different to each employee. Hybrid work arrangements were the most common tactic allowing employees to spend time in an office as well as at home. Flexibility in schedules can also be rewarding for employees as it allows them to adjust their schedule, while still meeting the needs of the organization. No matter the type of flexibility, it is important to listen to the needs of employees as this can boost retention and productivity efforts.
Salary increase trends were also a key finding from this year’s HR Review. In the last several years, companies have experienced market pressures to increase wages at higher-than-normal increase amounts. While employers must still stay aligned with market trends to remain competitive, the prevalence of higher increases seemed to wane as compared to last year. In the US, the predominant salary increase was more than 5%. Looking ahead to 2024, the predominant range reported will be 3.6%-4.0%, as noted by 22.22% of companies. In Canada, the predominant salary increase range was 2.6%-3.0%, there was a noticeable increase in companies who gave increases above 3.1%, as compared to previous years.
To learn about more human resources trends and to view newly released Agriculture and Food HR Review, click here.
