In recent years, agricultural employers consistently prioritized talent acquisition, but there has been a notable shift towards retention as a primary focus in 2024.
Agriculture & food employers report that employee retention is their most concerning human resource matter today, according to the AgCareers.com HR Review. This survey provides an annual H.R. trend analysis specific to the agri-food industry.
Retention was also at the top when we asked employers about their recruitment focus for the upcoming year. In the coming year, the primary objective for agriculture and food employers is to retain the existing talent within their organizations. The most substantial growth in recruitment focuses for 2024 is internal hiring.
In both the U.S. and Canada, companies reported that regular pay increases were the primary tactics for retaining staff. Notably, flexible schedules, remote or hybrid work options, and retention bonuses were top retention strategies that experienced a sizable increase. Several of the strategies employers have employed to attract and hire employees in recent years remain among the most effective methods for retaining them.
Factors that contribute to employee motivation in their role are also likely to influence employee retention; the two top strategies for keeping employees motivated and challenged were bonuses and training and development. A bonus can reinforce and entice excellent performance, while training and development can be necessary to achieve results, equipping employees with the tools they need to be successful.
Flexibility in the workplace remains a theme for employee retention as well. “Flexibility will vary across organizations and may have different meanings for each employee. Hybrid work arrangements were the most common tactic, allowing employees to spend time in an office and home. Flexibility in schedules can also reward employees, enabling them to adjust their schedules while meeting the organization’s needs. No matter the type of flexibility, it is crucial 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 rates. While employers must remain aligned with market trends to remain competitive, the prevalence of higher increases waned compared to last year. In the U.S., the predominant salary increase was over 5%. In 2024, the predominant range reported will be 3.6-4%. In Canada, the predominant salary increase range was 2.6-3%; there was a noticeable increase in companies that gave increases above 3% compared to previous years.
The Compensation Benchmark Review can also arm your agricultural organizations with accurate pay data by ensuring employees are compensated accurately for their job duties and responsibilities. Showcasing to employees that your organization has invested time and resources in reviewing company data can enhance employee morale and motivation.
Article Written by Bonnie Johnson, AgCareers.com
Bonnie Johnson has more than twenty years of professional marketing experience, including nine years with AgCareers.com. As a marketing specialist, she supports the AgCareers.com team and brand through marketing and communications efforts. This includes internal and external communications, email marketing, company branding, market research, and data analysis. Please send questions and/or comments to bonnie.johnson@agcareers.com.
