AGRIBUSINESSES are finding more innovative ways to hold onto their best assets: their staff.
Data from Rimfire Resources annual Agribusiness Human Resources Review showed businesses in 2015/2016 paid salaries above the level of the consumer price index. More businesses surveyed this year provided flexible working arrangements including paid parental leave and hired staff from more diverse backgrounds.
For their efforts, agribusinesses experienced attrition rates of less than 10 per cent.
Rimfire Resources managing director Mick Hay said the survey results showed agribusinesses were using more innovative human resource strategies.
“Now days more businesses are realising that human talent is their most valuable asset and it’s very hard to find,” Mr Hay said.
“The bigger corporate entities are starting to benchmark themselves against companies outside the sector and they are adopting modern workplace principles.”
In the past, he said, agribusinesses were slower to adopt flexible working arrangements compared to other sectors.
He said the rate of attrition across the agribusinesses surveyed was “healthy”.
“A certain level of attrition is healthy for any business but rates below 10pc are very healthy because it brings new blood into businesses at a steady rate.”
He said the survey’s positive results reflected the level of investment the sector has attracted in the past year.
“Hopefully we see the value of these investments genuinely shared right along the supply chain starting with the farmer.”
Rimfire Resources’ Agribusiness HR Review is Australia’s largest annual agribusiness specific human resources survey.
