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Retention of staff – what makes people stay?

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In these uncertain times, it is even more imperative to hold onto your valued members of staff.  Bonuses may be low or even non-existent; redundancies may have lowered your overall staff morale; even a bad Summer can have a negative affect on people’s attitude.

Or, if you are lucky enough to be recruiting staff, what can you offer to keep them loyal?

As a local recruitment service, we too, like to know what our candidates are looking for in a company.  So we asked them!

We recently polled our entire candidate database to find out what makes people stay at a company.  Some of the results are quite surprising!

Here are the questions and results:-

How did you find your current job?

Recruitment Agency 51.10%
Internet    19.10%
Newspaper 8.50%
Referred by a friend 21.30%

How long have you been with your current company?

Under 12 months  44.70%
1 -2 years   23.40%
3 – 4 years  12.80%
5+ year    19.10%

In conjunction with question 1, this could portray an increase in the use of temporary staff.  People having found their job via a recruitment service and have been with their current employer for less than 12 months.

Why have you stayed in this role?

Lack of jobs elsewhere   27.70%
No progression here   6.40%
I like my job   36.20%
I like the people   34%
pay is better than elsewhere 10.60%
I’m looking to leave   34%

This response is encouraging as it shows job satisfaction is still more important than money.

If you were looking to leave what would tempt you to stay?

More money 61.70%
flexible hours  19.10%
Promotion 25.50%
better benefits 25.50%
change of job role 34%

But job satisfaction obviously isn’t the be all and end all……………….

What support is important to you at work?

Training    59.60%
Personal development 63.80%
Benefits   27.70%
Occupational Health 6.40%
Regular pay rises 36.20%

Training and personal development score very closely, but it appears the development required by employees may not always be to benefit the company.

If your company could only reward you in one way, which would you prefer?

More money 38.30%
Time off   12.80%
Team events 8.50%
Vouchers   2.10%
Just saying thank you 38.30%

This frankly amazed me!  We knew “thank you” was powerful, but do we really understand how powerful?

This simple questionnaire just goes to show that no matter how important money may be, employees are still looking to be invested in, offered training and most of all – thanked for their hard work.

If you can offer any insights into this or have anecdotal evidence to share, please add to this blog.

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