KEEPING YOUR TEAM TOGETHER KEEPS THEM
PERFORMING AT THE HIGHEST LEVEL
Ensure your team are happy and motivated
with a DIY Staff Retention Audit
Knowledge is power
People buy people
Stable teams perform
MEASURE STAFF ATTITUDES AND TAKE CONTROL OF YOUR FUTURE WITH A NOVA STAFF AUDIT
AVOID BROKEN RELATIONSHIPS
It takes time to build trust and rapport – don’t be held back.
SAVE MONEY ON RECRUITMENT
Keep your hard-earned profit - it can cost 2.5 times their salary to recruit new talent.
REDUCE THE STRESS ON YOU AND YOUR TEAM
When someone leaves everyone has to work harder – whether taking up the slack or recruiting a replacement.
Conducting a DIY staff retention audit is a strategic approach to address turnover.
A study by the Recruitment & Employment Confederation highlights the financial implications of staff turnover, estimating the cost of replacing an individual at over two and a half times their salary. For example, replacing a manager earning £42,000 could cost upwards of £100,000. This figure underscores the importance of retention efforts to mitigate these costs.
Conducting a DIY staff retention audit is a strategic approach to address turnover. It allows companies to identify underlying issues that lead to employee dissatisfaction and departure. We will provide you with the audit, as well as a step-by-step guide.
The benefits of such an audit include:
1. Cost Savings
Identifying and addressing retention issues helps save on recruitment and training expenses.
2. Knowledge Retention
Keeping experienced employees prevents the loss of institutional knowledge and expertise.
3. Talent Acquisition
and Retention
Understanding what competitors offer helps make a company more attractive to potential and current employees.
4. Improved Employee Engagement and Morale
Addressing areas of low engagement can enhance performance and productivity.
5. Insight into Management Blind
Spots
Confidential audits reveal issues that management may not be aware of, allowing for targeted improvements.
6. Proactive Employee Satisfaction Management
Regular audits demonstrate a commitment to employee well-being, improving company culture and morale.
7. Competitive
Advantage
A positive work environment attracts and retains top talent, offering a market edge.
8. Future Workforce Planning
Adapting to employee needs ensures the company remains attractive to current and future talent.
The primary goal of a retention audit is to understand the factors contributing to turnover and develop strategies to improve retention, enhancing the work environment. Conducting the DIY staff retention audit confidentially ensures honest feedback, crucial for actionable insights.