ProSource Newsletter No 1 - April 2006
Holding onto staff
.... skills shortage is making it increasingly more difficult to replace staff so it is vital for companies to know why their staff were leaving!
According to human resource experts, some of the most effective staff retention ideas cost the least. Kate Southam reports.
Major research carried out by Mercer Human Resources of candidates around the globe found that in Australia, the US and the UK the number one item on the wish list of employees was respect.
According to recruitment and hr experts there are several low cost steps companies can take to demonstrate respect for employees and increase their retention rates including:
· Workplace flexibility.
· Letting staff 'in' on plans for the business.
· Providing job descriptions and updating those as responsibilities changed.
· Personalised rewards such as public and manager-to-employee 'thank yous'.
At a recent conference on productivity, Sandy Hutchinson of Mercer Human Resources told the audience that research had shown companies were spending big dollars on retention items staff simply didn't rate while ignoring low cost items that employees actually wanted.
She said flexible work practices were fast becoming one of the most valued perks for both genders and all generations.
hr experts say that flexible work practices do not have to mean less productivity. Staff can either work fewer hours for less money or the same hours configured in a way that allowed individuals to pursue non-work activities such as study, sport or family responsibilities.
Ms Hutchinson advised companies to introduce formal policies on workplace flexibility so staff felt comfortable accessing such practices. Policies created on a case-by-case basis in accordance with the whims of a manager created more problems than they solved.
According to an article in the American Business Journal acknowledging the efforts of staff reap retention rewards but cost nothing.
The recommended course of action was to email a 'thank you' to the individual through the company-wide email system and then follow up with a hand written thank you note.
Letting staff 'in' on business plans or wins through impromptu company-wide get togethers were also effective in creating a culture of inclusion and breaking up workplace routine.
Research released in February by hr Consultants Hudson, showed formal job descriptions were a useful way to counter staff burnout. Job descriptions also enabled companies to link career progression and rewards to individual staff members taking on more tasks and responsibilities.
A staff member who finds their job expands without acknowledgement was far more likely to leave, according to Hudson.
A recent Hays survey asked more than 600 job seekers why they left their job.
The top ten most common reasons were:
1. Lack of career progression
2. Seeking new challenges
3. Salary
4. Lack of training or development opportunities
5. Poor management
6. Too much stress
7. Travel time too great
8. Seeking to specialise in a particular field
9. Poor work/life balance
10. Office politics
Director of Hays Jacky Carter said the current skills shortage was making it increasingly more difficult to replace staff so it was vital companies knew why their staff were leaving and formulated strategies to address those issues.
Source: CareerOne - April 15, 2005
www.careerone.com.au
- A ProSource Thought -
'Outstanding leaders go out of the way to boost the self-esteem of their personnel.
If people believe in themselves, it's amazing what they can accomplish'
Sam Walton
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