RETENTION
Improving staff retention
While a certain amount of staff turnover can be beneficial, a high rate of attrition can have a negative business impact if left unchecked. A new report by Incomes Data Services looks at ways of indentifying and tackling the problem.
According to IDS, employers seeking to improve retention should first establish realistic expectations by studying regional or sectoral benchmark data. They can then explore contributing internal factors by determining their own turnover rate and gathering qualitative information that may shed light on the underlying reasons prompting employees to leave.
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“Having uncovered the full extent of the problem, they can then seek to improve retention through a wide range of initiatives spanning reward, development and work-life balance,” the reports says.
What you will find in this report
The 42-page report is divided into three main sections:
1. Devising a retention strategy
Measuring staff turnover
Counting the cost of attrition
Benchmarking turnover data
Understanding the causes
Addressing the problem
2. Labour turnover statistics
A review of some of the main sources of turnover information
Key findings from recent surveys
3. Case studies
Details of the steps taken to improve staff retention at:
Trinity-Chiesi Pharmaceuticals
FirstGroup
Beard
BUPA Care Homes
Lightbody Celebration Cakes
Pembrokeshire County Council
Want to know more?
Title: “Improving staff retention”, IDS Study 863, February 2008.
Availability: An annual subscription to IDS HR Studies brings you two issues a month (24 a year). These include all the expanded StudyPlus titles and quarterly HR Updates as they are published. It also offers full access to IDS HR Studies Online.
Take out a subscription online at www.e-commerce-suppliers.com/dpClient/onlineorders/studiesservice.jsp.
IDS is the “leading UK information and research service” on employment issues, providing a range of publications for employers, trade unions, government departments and other agencies. To find out more visit www.incomesdata.co.uk.