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Step by step retention Perhaps unsurprisingly, figures from the Office for National Statistics show that the number of people leaving their main job has almost halved over the last 13 years (2.4% left their main job in 2011, down from 4.5% in 1998). The rate of people resigning fell from 1% to 0.6% and the fall was across all industry sectors, with the largest decrease in the manufacturing, distribution, and the hotels and restaurants sectors. However, attrition may still represent a substantial cost to an organisation and retention is an important consideration, particularly when the jobs market picks up again. Our guide will help you to keep track of your turnover and identify potential problem areas requiring action. Measure and track your staff turnover and stability, on either a monthly or quarterly basis. This way, you will know what to tackle and will have a measure i n place to track improvements:
If your stability index is high, review your recruitment
processes. It is sometimes the case that employees leave because they have
been poorly recruited and given false expectations. The best example is
employees who are over-sold the job and the business and who, on joining,
are disappointed with what they find, hence the
psychological contract If your stability index is high, this could also indicate a need to improve your induction processes. A high stability index says that you are losing employees with short service and this could be because they are not being effectively inducted or introduced into your organisation. Find out why people are leaving.
You can do this in one of two ways, either by
conducting an exit interview Some employers prefer to use either HR departments or employees outside of the immediate working area to do this, or even use external consultants, in an attempt to encourage employees to really "open up" and give truthful answers and comments on their reasons for leaving. Read our guide on exit interviews The exit interviews A few more tips:
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