7 key staff retention drivers
You can't tie staff down, so what can you do about your staff turnover numbers?
Two major research reports have emerged in recent weeks both flagging up seven things that encourage staff to stay at their organisations.
Towers Watson’s Global talent management and rewards study compared the employer and employee view:
This is similar, but not identical, to what employees said in Metlife's UK Employee Benefits trends survey:
Job security comes up on both surveys, but it can be underrated by employers as a force that would make people look elsewhere. So HR should consider how to mitigate this fear.
Both employers and employees see advancing employee careers as important retention tools, so training and development.
And the appetite is there among employees.
Research out this week from finance specialists Pay4Later predicts that up to 10.9 million people in the UK plan to retain for new jobs over the next three years.
Admittedly Pay4Later are a training finance platform so they would say this, wouldn't they?
However, this is extrapolated from an online survey conducted by Consumer Intelligence of 1,033 adults aged 18+ between 10th and 11th January 2015, so shouldn't be disregarded too lightly:
The upshot? Of course pay is important, but depending on who you ask, there are at least six other factors that play a key role in retention.