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Employers are now able to retain their key staff even when work levels are low through our Resource Capability Exchange (RCE) Program. This program also means a larger talent bank is available for companies finding it difficult to recruit enough quality staff.

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Retaining Key Staff - Can You Afford Not To?

Finding and keeping good people is always a major concern for employers. And if you are not trying to retain everybody you currently have - why are you employing him or her? Improve your bottom line - by keeping your staff!

Being Employer of Choice is a term being heard more often as organisations compete for these scarce resources. While being employer of choice might not be your main driving force, it doesn't make sense to ignore the needs of employees. You don't want to be the employer to avoid.

How do we make our organisations attractive to current and potential employees? As most of us have been employees at some time it shouldn't be too hard to work out what people in that position might want. Go through the questions below to see if your organisation is doing all it can to retain employees:

If you answered positively to these points you probably have a reasonably satisfied workforce with a good chance they will be productive and stay with you.

If not, what can be done? The good news is; plenty - and it is neither hard nor expensive. Many managers do some of it, some of the time. The answer is to have processes in place which provide for all the above to employee but also are self-sustaining.

To do this means having your management team committed to making it work. Not working towards putting these processes in place is short-changing your employees. It can be done and there are companies that do it well; they may be your competition!

Systematically going through the points listed above and work on a process that delivers the right result will bring dividends. The cost of losing good employees is far greater than the cost of fixing the problem.

Key Elements of Success

Finding the Drive

'Offering opportunities for personal and professional growth - and a balanced life - achieves better staff retention than higher salaries alone'.

Retaining high performing staff in organisations that are constantly changing in the global marketplace has been a difficult task because of the mistaken assumption that money is the key to retention.

Increasingly, organisations are discovering that offering more money is not the simple answer. While money is often stated as the motivator to employment it is not the primary influence that binds a person to their work. The reality is that no amount of money can make you like a job you don't want.

The challenge that confronts the HR professional is understanding what motivates and drives staff. Determining and then fulfilling the motivation of people with outstanding qualifications, education and a high degree of business acumen is the key to retaining them.

One of the most significant ways to improve retention of key staff is to provide high quality career development programs targeted at the needs of individuals. Increasingly, organisations are adopting succession planning, career development and executive coaching programs to make sure people develop appropriately - in line with the business objectives of the organisation.

Employers are learning to train and coach staff for career, personal and business growth. Executive coaching is being used as a valuable non-remunerative benefit. Leadership development techniques and training are also being used to develop key talent, assist people moving into new responsibilities and develop appropriate management styles.

The success of career development programs also relies on an understanding of the needs of the individual at each stage in their life and career. Striking a balance between work and lifestyle as a contributor to retention recommended by many human resource professionals. This important aspect is, however, often overlooked.

The opportunity arises during performance reviews to discuss non-remunerative workplace options with staff. Management needs to listen carefully when employees describe what they like and dislike about their jobs. There are several professional 'tools' available to help them in this process. Once fundamental life interests have been determined and discussed then HR and management can tailor packages and future work assignments for the individual.

Deep personal motivators provide a picture of the individual's place in life; professionally, intellectually, emotionally and spiritually. These motivators determine degrees of satisfaction and dissatisfaction, enabling organisations to know if an individual has the skills and capacity to grow with the organisation. They also identify whether the individual is likely to move from where they are, and if the employee and employer can work in partnership to achieve the goals of each.

Understanding the importance of individual motivators is a key to understanding the choices individuals make in different areas of their lives. They are also important in assessing future direction and laying a foundation for career development and personal growth.

Taking the time to professionally assess and identify individual motivators can provide very detailed and personal feedback. This type of assessment is becoming increasingly valuable in educating individuals about themselves, clarifying what is intrinsically important to them, their place within an organisation and how they can achieve a better work/life balance.

Non-remunerative benefits are a crucial element in maintaining and increasing staff retention rates. Retention is not just about better and more remuneration; it is about creating opportunities for professional, and in turn corporate, growth and profitability!

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