The average rate of employee turnover in the UK has hovered around 15% for years, but in 2021 this number shot up. According to a survey by Randstad UK, workers are on the move, with 69% saying they feel confident about taking the leap into a new job in the next few months.
If you’re a business that’s been hit by the “Great Resignation”, what’s your next move?
Businesses usually go down one of these three paths:
-> Offer more benefits/higher salaries.
-> Spend more time and resources on the recruitment process.
-> Invest more in training and development.
These strategies sound may great on the face of it, but they all have something in common: they are *very resource-intensive*. There is also no guarantee that any of these methods will improve retention. There are different motivating factors for every individual, so how can we expect there to be one solution for such a complex problem?
Let's consider another option. What if you could understand your employees as individuals, rather than just numbers or statistics? What if you could truly get to know them, and discover what motivates them?
When you get to know your employees, you can start to target your retention efforts to the individual instead of attempting a one-size-fits-all shot in the dark. And what does this mean for your business? You know where to put your money. You're making informed decisions, based on real data.
Drop us a message here if you would like to learn more about how we can help with this.
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