How to retain your top performers
- Avoid the sting of recruitment by improving retention
Apologies, "Dave" isn't leaving. But maybe he's planning to. Every business has an employee (or several) like Dave, the golden employee. Management love him, peers are inspired by him.
If your "Dave" one day decides to leave, what will the cost be to the business?
The estimated overall cost to hire is £7,250 for Senior Management / Director level positions with lesser skilled roles still averaging an eye watering £2,000.
Attracting relevant talent is becoming particularly challenging for UK businesses according to the Recruitment & Employment Confederation (REC). It is reported that businesses are failing to hire the right candidates for two out of every five roles. It might not be so easy or cost effective to find another Dave after all!
The usual notice period is 4 weeks. A report by Quarsh revealed that the average time to hire is 10-12 weeks from posting the vacancy to eventually hiring. If you can't fill the role how much will business disruption cost you in productivity and revenue?
Sounds like a bit of a conundrum, but let's rewind. There's a much more efficient way to make sure you engage and retain your best employees, all from your back pocket. Yes, there's an app for that!
Highly engaged employees are 87% less likely to leave their company. Here's just a few of the ways an employee app could benefit you:
- Instant communication: Communicate instantly with office, mobile, warehouse, remote, no matter where they are
- Share your business story, your vision, mission and values
- Digitalise your company newsletter, publish in real time as news happens
- Replace the old Intranet that 70% of the workforce doesn't have access to
- Retain employees longer as they feel part of the bigger picture
Create your very own branded app and easily connect all of your employees.
want to see more? Request a free demonstration today.
Oh, and If you need to recruit, not a problem!
The app has a feature that allows employees to "refer a friend".
48% of talent acquisition leaders across 35 countries surveyed by King Recruit said that referrals were the best source for obtaining quality talent. Go on, find yourself another Dave! Book a demo today.