Employers Pivot Focus to Retention Strategies

In recent years, agricultural employers consistently emphasized talent acquisition, but there has been a noticeable shift towards prioritizing retention as the primary focus in 2024. Agriculture and food employers express that employee retention is their top human resource concern currently, according to the AgCareers.com HR Review. This survey offers an annual HR trend analysis specific to the agriculture and food industry.
 
Retention also emerged as a priority when we inquired about employers' recruitment focus for the upcoming year. In the coming year, the primary goal 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. 
 
Companies reported that regular pay increases were the primary tactic for retaining staff. Notably, flexible schedules, remote or hybrid work options, and retention bonuses were top retention strategies that experienced a sizable increase. Many of the strategies employers have utilized to attract and hire employees in recent years continue to be some of the most effective methods for retaining them.

Factors that contribute to employee motivation in their roles are also likely to influence employee retention. The top two strategies for keeping employees motivated and challenged were bonuses and training and development. A bonus can serve to reinforce and incentivize excellent performance, while training and development are essential to achieve results, providing employees with the tools they need to be successful.
 
Flexibility in the workplace continues to be a key theme for employee retention as well. Flexibility will differ among organizations and may hold 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. Regardless of the type of flexibility, it is crucial to listen to the needs of employees, as this can enhance retention and productivity efforts.
 
Salary increases 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% to 4%. 
 
Salary Surveys, like the AgCareers.com Compensation Benchmark Review, can arm agricultural organizations with accurate pay data by ensuring employees are compensated accurately for their job duties and responsibilities. Demonstrating to employees that your organization has dedicated time and resources to reviewing company data can boost employee morale and motivation. 
 
To learn about more human resources trends and to view the full Agriculture and Food HR Review, download a free copy here.