Human Resources (HR) Consultant Cynthia Lapira on Friday shared that whenever a company invests in its own people, it is benefitting both the employees and the organisation itself.
In today’s tight labour market, recruiting and retaining talent is especially difficult, as employees’ heads can easily be turned by an attractive offer put forward to them from rival companies.
In this respect, Ms Lapira stated that investing in one’s existing team is “much cheaper” than attempting to find a replacement. Therefore, businesses must work on fostering a company culture that makes their employees feel valued and respected, as well as being provided with the necessary training to maintain productivity and efficiency.
Ms Lapira has worked as HR Consultant at Malta-based HR and recruitment company Pursue Consultancy for the past three months, having amassed years of experience working in the HR field. She has successfully led HR departments within large-scale operations, and is now on the mission to bridge the gap between business objectives and HR strategies.
“In my journey through the professional world, I’ve witnessed companies that churn through employees like there’s no tomorrow. The turnover rate is through the roof, and the constant hiring and training cycle is exhausting and costly,” she said.
On the other hand, she has also seen businesses that go for a different approach by choosing to “invest in and value their current employees”.
“The cost of recruiting, onboarding, and training a new hire can be astronomical. It’s not just about money; it’s time, energy, and productivity too,” Ms Lapira added.
However, on the flip side, recognising and rewarding a company’s existing team for their hard work “can go a long way in boosting morale and loyalty”, she remarked.
“When you invest in our people, you’re not just retaining talent, you’re creating a culture of dedication and excellence. It’s a win-win for both the company and its employees,” Ms Lapira explained.
She urged companies to make this shift towards valuing their teams more and acknowledging their efforts by offering them some form of appreciation. This can range from a monetary reward to even a few words expressing appreciation. These well-deserved rewards can have a vital role in reducing employee turnover and “increasing overall satisfaction”.
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