Have you ever thought about employee retention in your organisation? Perhaps you have quite a high turnover of staff? Or maybe the converse is true, and you have staff who have been with you for a significant period of time? Whatever the circumstances of your business, we are here to explore the pros and cons of both scenarios.
Pros of employee retention
The importance of employee retention should not be underestimated. Having staff who have worked with you on a long-term basis is a good indication that you are a desirable organisation, offering staff stability and security when it comes to their jobs. Employee retention can also help when it comes to creating and maintaining brand awareness. People talk, and if they are talking about your business and how it’s a great place to work, then that can only be a good thing.
Retaining employees also makes you an “employer of choice”. Here, an environment is created whereby people want to secure a job with you over and above other organisations. This then has the added bonus of inadvertently encouraging and motivating your employees. They will know that they have a job with an authentic and renowned business.
Cons of employee retention
Then we come to the “downside” of employee retention. It’s not quite accurate to call it a downside, but rather something to keep in mind when you have staff who have worked for you for a long time – keeping things fresh and current. This may be via creating new challenges for employees where possible/appropriate. Or perhaps by producing new opportunities to allow staff to continually progress and develop.
Having a significant number of employees remain at work for long periods of time can also mean that any problems/issues said employees have then also remain at work. Navigating this will require care and attention. It is also worth noting that trying to make changes to circumvent these could be met with derision and a lack of employee cooperation.
Creating the right environment in work is crucial for employee retention and for allowing staff to thrive and flourish. There are often simple things you can implement that will enable a shift towards a positive workforce. You can read up about some of these on previous blogs on our website. And of course, as always, you are more than welcome to get in touch.
