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Staff turnover and losing top performers can kill your company’s financial performance. The costs of finding, interviewing and training replacement staff and the impact of lower productivity while new recruits come up to speed all affect your company’s bottom line.  Here are three tips employers can follow to minimise turnover risk and maximise their chances of retaining top performers.

 

Offer flexible working arrangements

Employees crave flexibility.  Recent studies have shown 45% would choose an employer based on the availability of flexible work options rather than how much they would be paid.  In our digitally connected world, where most people have access to smartphones and home Internet, why not offer employees the option to work from home and ‘telecommute’? Alternatively, employers should consider offering employees flexibility in determining their work hours.  The typical 9-5 day doesn’t suit everyone. As long as objectives and targets are met and assigned hours are worked, why not consider giving employees the ability to choose when they want to start and finish the day? Not only does this flexibility lead to increased employee satisfaction and staff retention, statistics also show employees with flexible work options are more productive.

 

Provide professional development opportunities

Top employees enjoy being challenged, intellectually stimulated, and encouraged to develop their skills.  Does your company offer regular training days or provide employees with opportunities to attend industry events? Offering these development opportunities will ensure that your employee looks to you for growth opportunities and not elsewhere. 

 

Small gestures can make a big difference

Providing your employees with small perks is inexpensive, but can deliver big returns in terms of increased employee happiness and commitment.  Consider stocking your office kitchen with free beverages and snacks, or perhaps even offering a free cooked lunch once a week. Why not consider offering employees a gym membership? Many gyms offer businesses discounts, so the cost per head remains small - plus, an active employee means a healthier, more productive one.   

 

The first step in achieving high staff retention lies in the recruitment process.  Hiring an employee whose values and goals align with your company and knowing how to identify this is the first step to minimising turnover.

 

Gaulter Russell Numero is highly experienced in dealing with a diverse range of candidates and our consultants are expert at asking the right questions to identify top performing, best fit, candidates who are most likely to remain in a role long-term. To find out how we can help you, contact us on 09 529 2334 or send us an email - reception@gaulterrussell.co.nz