Higher pay, work-life balance and career advancement are the top reasons Australian workers leave a company. An expert explains how to retain talented staff.
According to a survey from Robert Half Recruitment Group, 37 per cent of Australian office workers say higher pay was the most important factor that would prompt them to leave a company.
Other leading reasons were better work-life balance (28 per cent) and career advancement (12 per cent).
There are many ways that staff retention can be improved. Here, Robert Half shares its top tips.
8 tested tips to retain top staff
Communicate openly and clearly with your employees about their expectations, concerns and needs.
Do not underestimate the importance of recognition and appreciation.
Offer a personalised and competitive compensation package
with sufficient attention to non-financial benefits.
First-time manager essentials – explore the skills and techniques required for success as a manager, and focus on the common mistakes and challenges that first-time managers face.
Offer incentives to top performers after successfully completing a project, or at the end of a successful year in which the goals were achieved.
Give adequate attention to career planning
of your employees.
Promote your “employer brand” by regularly and consistently communicating the company’s mission, vision and values and by linking it to the business and working methods.
Ask for feedback
from tenured employees and find out what their motivations are, as well as potential reasons they might have for deciding to leave the company. Incorporate this information into your retention strategy.
Organise structured exit interviews so you can prevent other workers handing in their resignation for the same reason.