THE ECONOMICS OF STAFF ENGAGEMENT
Measure staff satisfaction, reduce staff turnover and Boost Profits
YOUR TEAM CAN MAKE OR BREAK YOUR BUSINESS
Schedule a Strategy CallMEASURE 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.
WE DON’T JUST CARE ABOUT YOUR BUSINESS, WE CARE ABOUT YOU
- Global Thought Leader: Clare's selection as a speaker at the FICPI conference in Cannes underscores her expertise in leadership and mental health.
- Charity Event Dynamo: Clare's leadership in raising over £20,000 for health causes showcases her exceptional organisational and motivational skills.
- Published Author: Clare's book, "Emotional Fitness: A-Z for Positive Mental Health," provides valuable insights into maintaining mental resilience in professional settings.
- 1. Schedule a Strategy Call
- 2. Decide how you are going to complete your audit.
- 3. Stabilise your team and grow your organisation.
- Imagine yourself breathing easier, the shadow of resignation letters finally fading. Internal and external relationships flourish, and your teams’ pulse with a contagious energy. No more Monday morning blues, your employees skip through the doors, eager to tackle the day.That's the power of prioritising the right leadership qualities to retain your staff. High staff turnover is a significant challenge for businesses, leading to increased costs and operational disruptions. The process of hiring and training new employees is not only expensive but also time-consuming, impacting the company's financial health and overall performance. When employees leave, they take with them valuable knowledge and experience, which can lead to a decrease in productivity and morale among remaining staff. The feeling of frustration, overwhelm, and loss is common among managers facing high turnover rates, emphasising the need for effective retention strategies.
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Clare and her team are great to work with. Their desire to help people thrive comes across in all coaching sessions we had.
Alex Moyle – Revenue Enablement Lead – EMEA - Github
Conducting a confidential 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 confidential staff retention audit is a strategic approach to address turnover. It allows companies to identify underlying issues that lead to employee dissatisfaction and departure.
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 audit confidentially ensures honest feedback, crucial for actionable insights.
Collaborating with an external consultant for the audit can offer several advantages. It allows for strategic selection of interview participants, including high-risk and top talent individuals. Anonymous, detailed interviews provide deep insights into employee sentiments and the reasons behind their departure. Comparing retention and satisfaction metrics with industry benchmarks offers a clearer perspective on the company's standing and areas for improvement. What’s more, the act of conducting a confidential audit signals to employees that their feedback is valued, potentially boosting morale, engagement, and loyalty.