Entirely Recruitment

LONDON RECRUITMENT NEWS

Tuesday March 5 2019


How to reduce your staff turnover




How to reduce your staff turnover

Hiring 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 International, 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.



"Company culture is the personality of your business"
Impact International








DISCLAIMER: The statements, opinions, views and advice expressed in this article are those of the author/organisation and not of ENTIRELY. This article should represent information correct at the time of publication however whilst every care has been taken to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. ENTIRELY will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within this article or any information accessed through this site. The content of any organisations websites which you link to from ENTIRELY are entirely out of the control of ENTIRELY, and you proceed at your own risk. These links are provided purely for your convenience and do not imply any endorsement of or association with any products, services, content, information or materials offered by or accessible to you at the organisations site.






Discover the best Industry News & Opinion on Entirely















REED Jobs

Recruitment


REED is a specialist provider of permanent, contract, temporary and outsourced recruitment solutions, IT and HR consulting. Assisting jobseekers and employers since 1960, REED's global expertise spans Europe, the Middle East and Asia Pacific. REED is independent, has 350 offices worldwide, employs 3,000 people and delivers a world-class service across more than 30 specialisms.






Emma Yearwood

Director of HR at Sodexo Engage


Emma is Director of HR at Sodexo Engage - specialists in employee and consumer engagement






Duane Cormell

Director


Having enjoyed the experience of working within marketing and recruitment for a national charity, Duane moved into legal recruitment several years ago after completing his Law degree at The University of Manchester. He is now the director of Realm Recruit, a legal recruitment consultancy. Realm works across the North West, Yorkshire and the West Midlands to secure legal roles at all levels. Duane is also an active member of the Junior Chamber of Commerce and an ambassador for Forever Manchester.






Zoek

Job search app


Zoek is the new job search app that uses state of the art technology to find you the perfect job match. Just let Zoek know what you are after, and it's smart job search engine will provide you with the most relevant real-time job search results. Search using Zoek's job search app or browse our website.






Omni Resource Management Solutions


Omni s the UK's leading pure-play recruitment outsourcer and recruitment transformation specialist developing one of the most experienced job board resourcing teams in the country. Omni was founded in 1997.






RECOMMENDED FOR YOU ON ENTIRELY LONDON