If organisations want to continue to thrive in this turbulent economy, they need to retain their workforce for the future. Retaining team members is essential for the longevity of business growth, productivity and success.
New research from the CIPD has revealed that more than 6.5 million people in the UK expect to quit their job in the next 12 months. Better pay and benefits are the main motivator to leave, but people are also looking for increased job satisfaction and better work-life balance.
However, employers need to not treat pay increases as a ‘silver bullet’ for attracting and retaining staff but instead look at overall job quality by being more creative with job design and people management practices.
Job quality covers several different dimensions, with most employees finding at least 6 of these influencing their intention to quit: pay and benefits, employment contracts, work-life balance, job design and the nature of work, relationships at work, and health and wellbeing.
As mentioned above, this requires employers to consider all dimensions of working life, recognising that employees across their organisation will face different challenges and opportunities. For instance: while hybrid workers may love spending time in the office and at home, they also appear to face the biggest difficulties in balancing work and life, including work-life spillover and working longer working hours than they’d prefer.
Poor leadership is another factor for many job moves: When asked why workers left their last organisation, one in five people (21%) gave ‘being unhappy with the leadership of senior management’ as a reason.
Lack of development opportunities is also keeping people trapped in low-paid roles. Just 39% of lower earners say their job offers good skill development opportunities, compared with 72% of higher earners.
As we can see from the data, employers have a lot to look at when it comes to employee retention. Here’s how we can help!
Our experts use innovative solutions to attract, onboard and retain the right quality of candidates whilst saving you thousands of pounds in hiring costs and streamlining your recruitment process.
Armed with a wealth of knowledge and experience we use technology-led solutions to fully automate your process as well as remove the time-consuming administrative tasks. Our solutions offer full control and transparency to our clients whilst delivering first-class recruitment tools. Book a consultation with our team to see what we can do for you!