Keeping Key Talent in Your Business

Good staff retention is critical to the long term health and success of your business.

Retaining your good employees ensures customer satisfaction, productivity, profitability, effective succession planning, orga  nisational knowledge and learning.

Keeping Key Talent in Your Business

The figures around costs for losing a good staff member are “Up to 3 x Annual Salary” of the employee. Retaining good employees is a huge cost savings compared to recruiting new staff.

Employee retention is one of the primary measures of the health of your company. If you are losing good staff, you can safely bet that other people in your company are looking as well.
Tip: Conducting exit interviews with departing staff are a great source of valuable information you can use to retain remaining employees.
Here are some bullet points outlining reasons why good employees change firms:

  • Clarity of instructions and role of the employee.
  • Quality of management or supervision of staff.
  • Confident environment to speak the employees mind in the workplace.
  • Talent utilisation of good staff.
  • Culture of Fairness & Equitable treatment.
  • Exposure to learn and grow in career, knowledge and key skills.
  • What in the work system is causing a staff to be unsuccessful?
  • Environment of acknowledgement from senior management & peers.
  • Core values drive recruitment, backed by quality standards.