No matter how small or large your business is, it is critical for all organisations to retain people. Not only are there financial implications, a high attrition rate reduces the knowledge base in your business, and lowers performance and morale!
We have seen some organisations master the art of staff retention; however some businesses really struggle, and clearly have a lot of work to do!
Five Tips to Improve Staff Turnover.
- The common saying that “People leave managers, not companies” is very true. Leadership groups need to ensure that they select, support and mentor managers effectively so they are able to influence and mould them into great managers who people are will to go the extra mile for.
- Make recruitment a priority and hire selectively. Ensure everybody internally is on board, the stakeholders are aligned and select a specialist recruiter who is able to engage and source relevant candidates. Interview candidates carefully, not just to ensure they have the correct experience and relevant qualifications. Are they culturally the correct fit to succeed within your organisation?
- Organisations which are a joy to recruit for recognise that along with a competitive benefits and salary package, they also need to offer ongoing training and career development. By achieving this not only do organisations retain top performers, they are recognised as an employer of choice and are able to attract other top performers from competitors.
- Have a clear defined new employee on boarding strategy. On boarding is paramount to ensuring new hires are able to adjust to the social and performance demands of the new role. It is through this process new employees are able to learn the attitudes, processes, policies and behaviours required to be able to perform to the best of their ability with the organisation.
- Formal performance appraisals are a huge benefit to both the employer and the employee. Organisations need to recognise the importance of a formal appraisal process because they have a significant impact on employee satisfaction, motivation and performance. It is through this process employers are able to recognise achievements, and challenges which if not recognised can lead to low staff morale and ultimately a resignation.
If you need some guidance or further information, then please do get in touch via firstname.lastname@example.org.