According to Investors in People (IiP), one in five employees is actively considering seeking a new job. That means that 20% of your workforce could already be looking for alternative employment. IiP’s research uses feedback from thousands of UK individuals performing jobs of differing levels. So, it’s perfectly possible that your senior managers are feeling just as dissatisfied with their roles as your reception or accounting staff.
What’s worrying about the likelihood of a significant proportion of your workforce moving on is that your company is at risk of losing some of its most valuable, skilled people. However, thanks to AL Consulting, you can find out the reasons for your employees’ sentiments and how to make remaining with your company a more attractive prospect for them, allowing you to retain and recruit the best people for your business.
AL Consulting are leading business management consultants in Lancaster, who work with organisations of all shapes and sizes across the North-West of England, as well as further afield. Using our wealth of experience and corporate expertise, we turn struggling businesses into success stories, and when it comes to staff retention, we can help you turn things around using a number of tried and tested tools.
Understanding staff retention
As successful business management consultants, we know that there are several key reasons why employees wish to change jobs. However, just knowing what the reasons aren’t enough to prevent your staff from leaving. That’s why we’ve identified solutions that you can put in place with the help of our business management consultants to make your staff retention rate soar.
Management dissatisfaction
As the Investors in People Job Exodus Trends 2016 report shows, a high proportion of workers are dissatisfied with the ways in which they are managed. The problem here lies with the fact that many managers lack the necessary people skills to recognise that there’s a problem, nor do they understand the underlying issues.
Solution: Staff Surveys
Staff surveys can measure a range of employee attitudes and issues while helping to improve the effectiveness of your workforce. AL Consulting uses a wide range of staff survey tools, and our business management consultants can help you to select and adapt one to fit your company’s needs.
Lack of employee engagement
Another reason your staff retention rate may be low is that your workers lack the necessary levels of engagement with your business and its activities. There’s nothing more demotivating than poor communications and lack of trust.
Solution: Change Management
When we mention the term Change Management, many people become defensive, worrying that ‘change’ is a bad thing or that their job is at risk. However, change management is an essential part of the operation of any successful business. Companies naturally grow and evolve all the time, and this means that the way you manage your employees, and the way they perceive themselves to be managed must change too. It’s not uncommon for workers to resist change, which is where AL Consulting can help you approach the subject sensitively and effectively to ensure the outcome is a positive one that is fully supported by your employees.
Insufficient development and progression opportunities
According to IiP, 23% of those surveyed said they felt their current role had no clear career progression. Happy workers need training and development opportunities, and making this possible will only help your business excel by allowing your employees to reach their full potential.
Solution: Succession Planning
Our business management consultants can help you tackle the issue of staff retention through succession planning. It’s a process which allows you to identify your company’s key players and develop them accordingly to fill crucial positions within your organisation.
Lack of recognition
The fourth common reason why people consider changing jobs is lack of recognition. You might be surprised, but Investors in People have discovered that many employees value recognition of their efforts more highly than wage increases.
Solution: Employee Engagement
A previous survey carried out by our business management consultants showed that only 18% of managers who agreed that their employees were their most valuable asset actually spent more than 20% of their time on people-related issues. If you want your company to operate as cost-effectively and efficiently as possible, AL Consulting can help you implement a successful employee engagement strategy, which incorporates four important elements: empowerment, recognition, effective communications, and vision and purpose to help boost your staff retention rate.
Turn your business around today
If you’re struggling with staff retention, contact AL Consulting today on 01524 811 890 or email our business management consultants on info@al-consulting.co.uk for further details.
