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Employee retention is a conflict of engagement. A company couldn’t engage an employee who doesn’t stay, as an employee wouldn’t stay if they are not engaged.

In a survey of 5,000 professionals by the Recruitment Buzz in the UK, workers who are quitting their jobs appear to double from 2014 to 2017 (17% to 32%). 37% of employees revealed that they had previously had jobs that lasted for only three months.

46% of job changers cite organizational issues as a reason for deciding to leave their former employers. 53% reasoned out that unsatisfactory career progression motivated them to resign, while 73% withdraw from their job for “personal reasons”.

Employee retention is costly. Their turn over will just cost the company an apparent 200% of their salary. This amount accounts for the recruitment costs and the length of the onboarding process. Vacancy from leaving employees accounts for 90% of businesses having trouble to refill such vacancies.

Retention begins after a successful recruitment. Employee retention is every company’s responsibility. Even if employers can easily assess whether a candidate is a good fit or just a plain troublemaker, recruiters have no ability to ensure retention of their deployed candidates to their workplaces, no matter how keen they monitor them.

Thousands of workers are suffering from work-related stress. This affects not just their happiness in the workplace, but also their productivity. Poor performance from employees is usually a sign of a possible resignation or turn over. In a recent study by Freedom Finance, stress in the workplace is most likely to be suffered by millennials.

Today where workplaces are being dominated by millennials, flexibility should be afforded to ease their workplace stress and to maintain a more constant workforce. Excessive workloads and overtime are some of the biggest causes of workplace stress.

A fast-paced environment with inconsiderate tight deadlines is never an appropriate business environment for any worker. Any task given should always be achievable. In cases of stress in the workplace, communication and support should be given to relieve the issue.

Some workers look for a new job to increase their pay, by reviewing their salaries and keeping pay competitive and just for their workloads, it may discourage them from changing jobs.

A focus on their wellbeing may also impact their engagement and their retention. Flexible vacation leaves and a frequent “Are you OK’s” are enough initiatives to promote each employees’ wellbeing.

Employee retention may have been the cause of greatest headaches among HR managers. The struggle of retaining top employees is a challenge that has never been new and has never always been. Inability to retain top talents is a disability that could impair the company leading to a major loss of its competitive advantage in their respective industries.

High employee retention rate is a demonstration of happiness and satisfaction among workers. Appropriate measures in recruitment and retention can manage to reduce turnover and to keep retention sustainably. The secret to having an excellent retention rate is by establishing a positive company culture where employees are happy, satisfied, and challenged at the same time.

Seasoned recruiters will always have an eye for star performers. Learn more of our best practices in talent acquisition and let us collaborate to achieve your business goals.

Rensol Recruitment & Consulting
Email: [email protected]
Phone: +63 2 931-0968
Website: https://rensol.com/

ABOUT THE COMPANY: Rensol Recruitment and Consulting, Inc. is the fastest growing recruitment agency in The Philippines. A career consultant that aims to go above and beyond the level of expectations of both the aspirations of the candidates and the dream team standards of employers through providing exceptional opportunities and unparalleled quality-driven recruitment services.

In a report by Forbes, from a focus on customer experience (CX), more than 90% of businesses have been shifting to employee experience (EX). Denise Lee Yohn, a business contributor to the reputable magazine, has even called 2018 as the year of Employee Experience.

This shift suggests that more and more companies will be prioritizing efforts to improve employee satisfaction, engagement, wellness, and alignment. More than customer satisfaction, EX has been found to impact competitive advantage and sustainable growth.

Before, companies use to prioritize stakeholders at first, customers second, and employees third. Companies are starting to realize why they should invest first in their employees, so they could take care of customers, that will also take care of stakeholders.

War for Talents

In the same study, it shows that 90% of companies already anticipate war for talents with 56% of them invest in providing more training, 51% in improving workspaces, and 47% in giving more rewards.

“The skills shortage is an ever-present challenge,” says Henry G. Jackson, CEO and president of the Society for Human Resource Management. As time goes by, attracting and retaining of talents is becoming a hard job for many employers.

Companies should raise their game when it comes to recruitment of talents. Recruitment of star-performing candidates and retaining highly-engaged employees significantly help to grow revenue by driving customer loyalty and profitability.

EX is also one of the primary considerations of every jobseeker before pursuing a job. No matter how strong your company’s brand campaign is or how skillful your recruiters are, no employers could ever hide behind poor EX in the age of social networking. Job seekers read reviews and like online shopping, the pool of companies is like a plethora of brands where they can subjectively choose from.

Workplace Culture

EX is more than just an accommodating HR, free foods, and overflowing perks and benefits, it accounts to the day to day experiences of every employee within the organization. Free gym memberships and health insurances may enhance employee attitude, but EX is more of having a fun and enjoyable experience within a culture that fits every talent. This spans from the very first contact as a recruited candidate, to his on-boarding, first evaluation, training, and until he graces his exit interview.

Apart from competing in the job market, EX is an invaluable factor to keep employees from resigning. Employee experience reflects the quality of the workplace culture and their job performance. Feedback has played a role in understanding how employers should support every employee to grow and to succeed within the premise of the job site.

Jacob Morgan, a business author, shares that prioritizing EX has various positive impacts on business performance. In his study, companies who invested heavily in EX has always been ranked to list of Best Places to Work, Most In-Demand Employers, Most Innovative Companies, and Customer Satisfaction Indexes.

Understanding and optimizing EX has emerged to be one of the innovative priority among HR and business executives. Consistent positive experiences build a positive culture that essentially attracts talent and retain highly-engaged employees.

Seasoned recruiters will always have an eye for star performers. Learn more of our best practices in talent acquisition and let us collaborate to achieve your business goals.

ABOUT THE COMPANY: Rensol Recruitment and Consulting, Inc. is the fastest growing recruitment agency in The Philippines. A career consultant that aims to go above and beyond the level of expectations of both the aspirations of the candidates and the dream team standards of employers through providing exceptional opportunities and unparalleled quality-driven recruitment services.