The labour market is constantly changing and it’s more competitive than ever before. So it’s normal if your organisation is losing staff. But when this turns into a recurring event, you should try to understand why. One method is employee retention surveys – and we’ve got a few options you can try below.
Understanding what your employees value, and being able to measure the impact of high turnover and retention on your business, can help you improve the overall organisational fitness of your business.
Employee retention is linked to the ability of an organisation to keep its employees from leaving, whereas employee turnover represents the total number of people who have left the organisation and have been replaced with new hires.
The average employee turnover rate in the UK is approximately 15%. For your organisation, this number could be lower but also it could be higher which means you need to start looking at different approaches to tackle the problem.
People leave their jobs for various reasons and as much as this can be seen as a personal choice and employee’s problem it’s not exactly like that. When many members of the staff make the decision to seek a better opportunity elsewhere it often should be an alarming bell for the senior management that something isn’t quite right in the company.
Employee retention has become one of the biggest challenges for HR and organisations. It’s not only expensive but it also affects productivity, customer service and morale.
It’s not everything bad – there are ways for HR and management to spot if someone is a flight risk. Start with listening to your employees, pay close attention to what they say, how they behave at meetings and if they try to build relationships with colleagues and line managers.
Focusing on employee retention is one of the most effective ways for organisations to save from recruiting costs including fees paid to recruiters or job advertisement, not to mention the employee training which also can be costly.
Employee turnover directly impacts productivity. This is because the new hires need time before they feel fully comfortable working with existing customers and taking on new projects. Additionally, the remaining staff might be overwhelmed with extra work which can lower the quality of their performance.
The key to better company morale is employee engagement. Engaged people are more productive and make an effort to connect with each other which means overall better company culture.
It’s not a surprise that the longer employees stay in the organisation, the more knowledgeable they become. They also have stronger and more valuable relationships with clients and co-workers which once again leads to higher engagement and better work ethics.
There’s a link between retention and employee satisfaction and happiness. Highly engaged employees are more committed to their work and are more likely to try and deliver better results and better customer service, which can also be the one thing that differentiates your brand from the competitors.
Company culture isn’t something that’s built overnight. It takes time and effort from both management and employees. The core of your company culture is your staff and when there are often people who leave and new are joining the culture may change.
A strong culture is a key to high performance and more satisfied employees so it’s worth putting time into strengthening the corporate ethos.
Improving employee retention is challenging but not impossible. It will require a lot of effort and with the right tools, you can make the process not only easier but also impactful.
This is how our survey platform can help you:
At Qlearsite, we often talk about how important it is to be able to measure employee engagement. Our survey solution covers 4 main areas of engagement: Advocate, Adapt, Persist and Lead.
Focusing on these key areas, and using any open-text feedback, we show you how engaged your people feel and where you should focus:
There’s a close link between retention and employee engagement. People who feel engaged and happy at work are less likely to leave and more likely to put effort and show better results.
If you’re seeking to improve retention in your organisation you should be able to understand what experience your employees have. The easiest and best way to do this is by sending them a survey.
Our Experience survey focuses on these 4 main areas: Rewards & Recognition; Daily experience, HR solutions and Environment:
With Qlearsite, you can make an account and send a survey in under 15 minutes – and the results are analysed for you, to save even more time. Get started for free, and begin improving your employer branding strategy today: