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Staff turnover

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I'm on a HR project that is investiagting our company's employee benefits offer and tasked to produce a report on how to motivate staff through our offer in order to reduce staff turnover.

Does anyone know of any research based evidence that shows that good employee benefits produce an outcome of increased staff retention?

As usual, I'd be grateful for any thoughts or input.

Thanks,

Chris Whelan

2 Responses

  1. not quite what you are asking for but relatively close…

    a survey of 1200 people across 26 companies in a retail and service industry sector in 2008 found thet the main motivators for staff to stay with an employer were, in order of priority:

     

    1. The resources you are provided with to do your job

    2. Your relationship with your manager

    3. The way the company communicates with you

    4. Team spirit

    5. Your pay package

    6. Recognition of your achievements

    7. Job security

    8. The ‘fit’ between you and your job

    9. Training and development opportunities

    10. Company culture and values

     

    Benefits were included in the pay package.

    Interestingly this is not the same as the results for managers making the same decision!

    I hope this helps somewhat

    Rus

    http://www.coachand-courses.com

  2. Recruitment AND Retention

    Echoing the good stuff in the 10 point profile from Rus, there are hard headed economic arguments linked to culture and dignity at work. Often called the business or economic arguments for equality and diversity LINKED to recruitment and selection. We have a free guide on the RAINBOW CURRENCY looking at case studies connected with the Purple,Blue,Brown,Silver,Pink, Gender and Local Pounds(££) -there is a Polish Pound and many others. Very happy to send you a copy -trainingqed@aol.com

    Here’s an extract from our recent launch of the RAINBOW CURRENCY.I am sure you will see the links with recruitment AND retention of staff -and customers/volunteers too! Get in touch if you want the guide

    Dominic

    …………………………………………………………………………………………

    Training people about equality laws, and diversity issues in recruitment and retention is sometimes met with the retort that "it’s pink and fluffy" "pc gone mad" etc. etc. That was always nonsense in the light of legal, demographic and cultural considerations surrounding the subject. And the fact that most of us will have at least 4 or 5 of the 9 protected characteristics under the Equality Act. But what about the hard headed economic or business arguments for equality and diversity. Not pink and fluffy at all!

    On our training courses  we often develop the economic or business arguments for equality and diversity by looking at the pink £, the brown £, the grey £, the Polish £ etc. etc. All critical considerations in terms of recruiting AND retaining customers and staff. But a brilliant new guide from the government has at last spotlighted the PURPLE POUND! We have incorporated some of the key features in a QED free guide to all the rainbow coinage. We will be happy to send you a copy together with a profile of our Customer Care Equality and Diversity course programme. Just drop a line to trainingqed@aol.com

    The business guide from the government, referred to above, is aimed at making more firms aware of the £80 billion potential spending power of disabled people and encourage them to capitalise on the success of the London 2012 Games. It has been launched by the Minister for Disabled People.

    Commonly referred to as the ‘purple pound’, the combined spending power of disabled people in the UK is £80 billion a year. There are now over 11 million disabled people in the UK today which is around 19% of the population. This equates to a lot of clout for the purple pound. Many UK businesses are unaware of this potential market.

    And what better time – at the start of the Paralympics – to realise the contribution that disabled people are making in all walks of life. The guide has been developed by the Department for Business Innovation and Skills in conjunction with the Employers’ Forum on Disability and the Department for Work and Pensions

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