How to reduce staff turnover in the digital age
by James P. Outreach & PR ExecutiveHiring new
members of staff can be an expensive task. Not only is it time consuming to
undergo the recruitment process, but when you bring a new colleague into your
business, they need extensive training to make sure they can be the biggest
asset possible. However, a lot of companies completely overlook up to 95% of
the overall cost of hiring.
In the UK,
the average recruitment process costs £3,000. This takes into consideration the
need to advertise, interviewing time, hiring fees and any possible agency fees
you may incur. On top of that, to provide the correct training can cost over
£1,000 before you add on any in-house or external training. Therefore, reducing
staff turnover can be crucial. Here, with change
management specialists, Impact, we look at how
to make sure you have as little staff turnover as possible.
Hire the right people
We all know
that the hiring process is crucial, but how many companies push through the
wrong candidates simply because they need the manpower as soon as possible?
Start by making sure your job specification is as clear and precise as
possible. Doing so will ensure that you should
only receive applications from those who are sufficiently qualified to carry
out the role.
However,
it’s not just about having the right skillset. While this may be very
important, you must also be sure that candidates are a good fit for your
company’s culture.
Company culture
Company
culture is the personality of your business. It’s crucial that you incorporate
your beliefs and goals into an environment that is fun to be a part of. Workers
who buy into your company’s culture are more likely to enjoy their time at work
and therefore be more content in their role.
For some
candidates, company culture is a huge part in whether they’d take a role or
not. By having a fun company culture for your colleagues to be a part of, your
staff are likely to be more productive and work together towards targets.
Recognise achievements
We are a
nation who like to be patted on the back from time to time, and rightly so! If
a colleague has enhanced your business or made an important contribution, make
sure you show your gratitude. If you fail to do this, they are likely to become
disillusioned with the company. Reward them and you’ll have a greater chance of
them rewarding you with their loyalty.
Of course,
this recognition doesn’t have to occur for every little thing they do. Doing
this will dilute your appreciation. The goal for this is to make your teams
feel appreciated and let them know they bring a sense of worth to the business.
Offer flexibility
According
to research, flexible work is one of the most important benefits a company can
offer. Research revealed that 59% of UK respondents believed it was the most
important aspect when looking for a new role. Remote working was also high on
the desired checklist, with more people looking for a better work/life balance.
If you can offer this, your staff are less likely to look for a new role. The
data found that 28% of respondents would also look to change jobs if this
wasn’t available in their current workplace.
Offer a competitive pay
and benefits
Your profit
levels are obviously the most important aspect of your company, but sometimes
paying above the average amount for a specific role can help you attract and
maintain the top candidates. One of the main head-turning issues businesses
come across is another company offering more for the same role.
As well as
this, the company benefits should also be appealing. Work out what it is that
your employees crave. If it’s regular nights out as a team, plan them in.
Elsewhere, if it’s the opportunity to learn on the job, be sure to make sure
your team know you will support them with their studies.
Show progression potential
It’s
important that staff don’t stagnate. If there isn’t a clear career path
visible, then you may find that some of your best workers get itchy feet and will
jump ship. Most employees are looking for a job in which they can learn new
skills and progress, giving their career a sense of purpose. Help your staff
visualise their future at your company and show that progression is a real
possibility.
By incorporating
the above into your recruitment process and everyday work life, you’ll be more
likely to have a happy workforce. After all, a happy workforce is more likely
to lead to a profitable business.
Sponsor Ads
Created on Sep 23rd 2020 02:46. Viewed 376 times.