WITH the January blues sweeping the nation, many people will vow to make changes in their current life, leading to many setting those predictable New Year’s resolutions.
According to research, in addition to losing weight, quitting smoking and spending more time with famliy, one of the top ten most popular New Year’s resolutons is job-related. The return from the festive break can be a worrying time for employers as their could be a high risk of losing key members of staff with January traditionally becoming the boom time for people looking for new jobs.
Leading Aberdeen-based employment law, HR and health and safety firm, Empire, has been advising clients with tips on how to prevent losing key members of staff in the coming year.
Top of the list of reasons for employees on the hunt for a new job in the New Year is that many would like to further maximise and improve their career. New Year brings thoughts on whether they are going down the right career path, with many beginning to consider a fresh start in a different direction.
Steve Cook, CEO of Empire, said: “It can be a sorry time when an important member of staff decides to leave the company, let alone the costs that come with filing the position left. It is important to keep staff motivated over the festive period and at the beginning of the new year in order to keep their interest in their job and of course the company.”
According to a 2012 survey by the CIPD the overall employee turnover rate for the UK was found to be 12.7 per cent, with 45 per cent leaving voluntarily. Interestingly, while nearly half of organisations calculate their recruitment costs, only one in six calculcate the cost of employee turnover. The costs associated with turnover can be very high as it is not just about replacing leavers but also in terms of a loss of skills and knowledge and consequently a reduction in productivity.
The findings also revealed that organisations are experiencing most difficulty in retaining managers and professionals and in order to retain staff, employers mainly focus on increased learning and development opportunities, improving the induction process, increasing pay and improving selection techniques.
Empire have provided some key points that are worth considering in order to manage employee retention which include: informing and communicating with employees on a regular basis, ensuring performance management tools are in place, and reviewing employee development.
- Ensure you give candidates a realistic description of the job. Giving prospective employees false expectations will only lead to a demotivated employee in the longer term.
- Ensure line managers are responsible for managing their teams. Managers should be accountable for managing their employees through annual appraisals and regular feedback. Managers should be trained in people management and development skills.
- Clear career development and progression. Employees who are aware of their potential progression within the organisation will feel empowered. Where promotion is not feasible, sideways moves can develop their experience.
- Ensure there is good communication links throughout the organisation. Review communication forums or if there is nothing in place consider an employee survey to gauge opinion from the workforce.
- Consider work/life balance of employees. Consider varying working hours to support employees’ domestic responsibilities.
A satisfied employee will know what is expected from them whilst at work, will feel challenged and be clear on their development opportunities within the organisation. The perception of fairness and equitable treatment within the work place is important in employee retention.
To find out more on what Empire can offer your business in the New Year please contact Empire on 01224 701383 or visit www.empirehr.com
Issued by Frasermedia Ltd on behalf of Empire