Attracting & Retaining Staff
FAST TRACK YOUR BUSINESSES SUCCESS BY ENSURING YOU ATTRACT THE RIGHT PEOPLE AND HOLD ON TO THEM.
Ensuring your business has good staff retention and the ability to attract the right staff in the first place, requires effective measures and careful management.
In the absence of such measures your business will miss opportunities to optimise its productivity and performance.
Statistics and anecdotal evidence both point to a significant cost incurred each time a business loses a member of staff.
“WE TAKE AN ANALYSIS OF YOUR CURRENT ACTIONS TO RETAIN YOUR STAFF AND WORK WITH YOU IN ORDER TO IDENTIFY FURTHER EFFECTIVE OPTIONS, TAILOR MADE TO YOUR BUSINESS REQUIREMENTS”
When analysing staff resignation from a ‘bottom-line’ perspective, the costs include:
- Leaving processes – payroll and administration tasks.
- Replacement time – recruitment, interview time and associated fees.
- Transition for the new employee – training time and costs, ‘unproductive’ time while learning and induction.
Looking at the indirect costs, your business is also faced with:
- Loss of client service/satisfaction.
- Decrease in staff satisfaction – increased pressure to fill shifts and train others.
- Diminished internal and external perceptions of your business as an employer.
- Time spent on recruitment by HR management team as opposed to more proactive projects.
JP Smith will assist your business to be an employer that:
- Can attract great staff; and
- Has excellent staff retention.
Our consultants start with a brief analysis of your current actions to retain staff and work to identify further effective options suitable to your business and which will truly work for your staff.
STAFF SATISFACTION SURVEYS
FIND OUT WHAT MAKES YOUR STAFF TICK AND MOTIVATE THEM TO SUCCEED BOTH IN AND FOR YOUR COMPANY
The best way to know if your staff are happy is to ask them. Find out what you are doing right and what you can do better or differently – these questions provide the basis for strategies to ensure staff retention is a reality in your business.
Staff will not always offer frank opinions when dealing directly with you or your management team. This is where JP Smith comes in. We conduct objective and confidential staff surveys with your entire team. Your team can provide feedback secure in the knowledge their answers will not have a negative impact on them personally – it is not that you would use a survey against a staff member, but there is an unfortunate stigma attached to giving direct feedback when it could be seen as critical or negative of the business. For that reason it can be beneficial to offer the safety of a third party conducting the surveys and ensure accurate information is obtained.
“WE OFFER A THIRD PARTY ALTERNATIVE, INVITING AN HONEST AND OPEN DIALOUGUE WITH YOUR STAFF, THUS GAINING VALUABLE INFORMATION YOU CAN PUT TO USE”
The outcome for your business is direct knowledge on where to focus your efforts and costs and the ability to maintain high morale within your staff.
JP Smith surveys focus on a range of topics including:
- The Company
- Management & Supervisors
- Equality & Fairness
- Pay & Benefits
- Work-Life Balance
- Recognition and Reward
- Training & Development
This information gained can be further supported through exit interviews (see below).
Depending on the results of the survey, you may wish to revise your induction process, performance management, remuneration structure or benefits.
The best way to conduct these surveys depends on the geography, logistics and number of employees in your business. We will work with you to use a system that maximises the outcome for you.
AFTER ALL, GOOD BUSINESS RELATIONSHIPS ARE A TWO WAY STREET
According to recent research, benefits are a popular way for organisations to improve their staff retention.
There is no limit to the benefits you might offer – it could be as simple as rostered days off, facilitating novated leases, flexible hours, work from home arrangements, additional superannuation payments and so on. Sometimes, some outside-of-the-norm benefits might suit your staff. Businesses have offered benefits such as gym memberships and training that helps both the business and the person receiving it (such as flight training), in some cases.
“WE CAN HELP YOU SEEK OUT POTENTIAL BENEFITS WHILE STILL BEING COST EFFECTIVE”
Looking at staff benefits at the same time as a staff perception survey means that you can direct the research and spending into areas your staff will truly value.
After the initial survey, JP Smith can help you work to evaluate potential employee benefit offerings to ensure a cost effective balance is achieved.
This service involves analysing costs vs. benefits to your business, recommending providers (if needed), and creating employee awareness packages to ensure your staff know and appreciate how generous you are being.
MAKE SURE HISTORY DOESN’T REPEAT ITSELF AGAIN AND AGAIN
An often undervalued tool is the Exit Interview. Many businesses underestimate the value to be gained from asking the right questions of an employee as they prepare to move on.
Essential qualities of exit data include:
- Employee comfort – departing employees must feel safe about being honest with their answers. They generally do not want to burn their bridges with the employer. The most effective way to assure employees their honestly will be valued and remain confidential is to use an external exit interview service.
- Precision – both qualitative and quantitative data should be collected, but the emphasis should be on the latter. Without this, exit data becomes subject to interpretation of specific wording and is difficult to precisely analyse.
- Sensitivity – demands the involvement of a person in the interview. Exit interviews are frequently a process of discovery for departing employees in terms of the drivers of their decision to leave. A suitably skilled interviewer will help them identify the root causes through discussion.
- Participation – interviews conducted internally vary dramatically in this regard from around 20pc to, at best, 90pc if they are ‘compulsory’. Surveys are very easy for an employee to ignore during a busy last week at the office. This alone undermines the accuracy of exit data because those people who make time or have plenty of it in their last week are unlikely to be a truly reflective sample of the workforce.
“AN EXIT INTERVIEW IS AN UNDERVALUED TOOL THAT OFTEN REAPS THE MOST REWARD”
JP Smith’s Exit Interviews can be utilised as an ongoing service or alternatively, from the approach of a trouble-shooting project to evaluate a sudden decline in staff retention.
If you would like any additional information regarding any of our services mentioned above, please contact us on 07 4659 7400 as soon as possible.
Please also check out our page on 360° Reviews and Outplacement Services.