Retaining employees is equally as important as recruiting new talent. Will the job alone be enough to satisfy employees in this day and age? Probably not. Consider what you can offer to stand out from the crowd and keep your employees loyal.
Assess what it is that makes a person become dedicated to your business and harness a retention strategy. The Great Resignation may not yet be over, so retention is a priority topic for businesses who want to get ahead.
Pay attention to your retention strategy
It’s critical to consider a retention strategy (or revisit an existing one). Post-pandemic, many people are on the hunt for jobs that offer flexible working among other things, and good pay is not the only factor to keeping your staff content.
What may have been important to jobseekers in previous years, may be irrelevant or miniscule today.
In our latest webinar, we are joined by Excellect’s Ann Barker to discuss how SMEs can use employee benefits to attract and retain talent. Watch the video below, and click here to request your free employee benefits consultation.
Your future workforce
The landscape of employment has changed and is continuing to change. Shaped by new technologies, mobility, and globalisation, to name a few factors responsible.
Software, data insights and social platforms have allowed businesses to operate on another level. An abundance of information and ways to collaborate as a team are at our fingertips. The power of technology has altered people’s attitudes and expectations of work. The ability to work wherever, thanks to technology, poses the question of whether it’s necessary to be in an office 5 days a week. Many job seekers are enticed by flexible working, especially post-pandemic when this was a way of life that offered a healthier work-life balance.
How can The HR Dept help?
We have plenty of ideas on people planning and can advise on organisational structure, employee retention and much more. If you’re thinking ahead and could do with a second opinion before making important changes, give us a call today.
Staff Retention FAQs
How is retention measured?
Retention rate is often calculated on an annual basis and measures the retention of particular employees over a specified period of time.
Retention is calculated by dividing the number of employees with one year or more service by the number of staff in those positions one year ago. If a position was added during the year, it would not be counted.
Statistics alone though are not enough. Holding proper exit interviews and learning from the reasons people leave is far more valuable.
Need help developing an employee retention strategy?
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Recruiting and retaining disabled employees
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Contracts and handbooks
Payroll and pensions
Performance and appraisals
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