Are you supporting a high growth business in the UK but also one who suffers from 15% or higher staff turnover rate? As recruitment specialists, we know that a key goal of yours it to keep your staff happy, so your business can flourish.
According to Glassdoor, the average employer spends about £3,000 and 27.5 days to hire a new worker. We work with businesses who are working really hard to improve their staff retention. This speedy 2-minute read will give some insight about how you can improve your employee relations and your staff retention.
Job security is one of the key aspects that you need to promote within your company to improve staff retention. Whether you are a HR Director or a Tax Recruiter, all employees need to have confidence in the security of their job. Doubts over the company's success will have a big impact on performance and your bottom line. If employees feel stressed, their work will suffer and this will have a knock-on effect on the team.
How do you prevent uncertainty and negative gossip? Keep your staff informed on how the company is performing. Keeping your team in the know will build trust and develop strong employee relations. If your staff can see how well your company is performing then they'll feel more certain about their job security. Also, reassure your team of their value to you and the company. Employees like to feel wanted and needed.
Variety is the spice of life! Talent and skill utilisation is another factor your key employees seek in your workplace. Often, when candidates register with us they want to try something new but are unable to do so in their current firm. Motivated employees want to contribute to work areas outside of their specific job description. Think about offering work that wouldn’t fit into their portfolio. How many people in your business would value from working in another team or on a different project? You need to know their skills, talent, and experience, and take the time to develop this to your advantage.
Everyone loves to feel important! However, With 69% of workers polled saying their boss didn’t support their career goals, it seems as though this point is being overlooked by many. We like to think that our actions have an impact in the world and that we add real value. If someone is doing a good job, ensure that they know about it. Making sure that your team know that they are valued will go a long way in the company. Frequently saying ‘thank you’ goes a long way. As recruitment experts, we head from candidates looking to move and there is a common theme that people don’t feel valued. Your staff members must feel rewarded, recognised and appreciated. This can be reflected by pay rises, job titles or heaping praise on someone in front of others. No member of staff should be made to feel like an unnecessary cog in the machine.
Team rapport is essential for any company to be successful. Team building activities, nights out and regular meetings are great ways to ensure staff bond. The change of scenery can only add to this positive feeling. This is something many companies miss out on and it does make a difference. We at Pro-Group pride ourselves on our family-feel office and this team-bonding time is essential in maintaining a happy workplace.
The saying “You spend more time with the people you work with than you do with your friends and family” is very true. That's why creating a welcoming place where people enjoy their environment is imperative. Don’t get us wrong, employees are there to work but you must strike a healthy balance to create a conducive environment.
People like to feel that they are growing/progressing in life. To achieve growth, they must be challenged, do not let someone stagnate! According to a survey by totaljobs, 68% of employees have changed jobs because of a lack of learning and development opportunities. Your best employees, those you want to keep, seek opportunities to learn and grow in their careers. Without the opportunity to train, attend seminars and courses employees feel they will stagnate. A career-orientated and valued employee must experience growth opportunities within your organisation. They also need to see a space that they can grow into; otherwise, they won’t grow.
When was the last time you asked an employee if they felt they were developing or asked them what else you can do to help develop them?
This is tied in with several other points in this guide to staff retention. You need to remind your team of how they're contributing to the company and how well they are doing!
There are a lot of points above that feel very obvious, I’m aware of a number of companies that don't install the simplest of these policies. Try to implement just one or two of the above suggestions to retain your best staff, or stop and ask yourself, do you do this for your staff already? Some of these suggestions cost you nothing but a little time and effort.
The outcome - You will be more likely to keep your superstars with you for the long haul. It’s essential to take a step back sometimes and ask yourself - How happy are your staff?. Are you meeting all their needs? If not, why not!?
If you’re struggling with retaining your staff and seeing your attrition rate creeping up, speak with one of our experienced recruitment experts who will give you an insight into the current candidate market.
Pro-Recruitment is a recruitment agency in London and our consultants specialise in Tax, Finance, Legal and HR jobs and are able to offer expert advice on employee relations, generalist hr to talent acquisition. Contact us today on 02072696333 for a discussion on your recruiting and talent needs.