New information brochure for employers – Retaining and supporting employees
The Department of Training and Workforce Development, together with our project partners, has published the fourteenth in a series of workforce planning and development brochures tailored to small to medium businesses. The fourteenth brochure is titled Retaining and supporting employees.
The world of work is changing with bigger labour pools and range of job options available globally and at home. Trends like the shortening of average length of time spent in a job; the use of talent agents to find and poach employees; and portability of skills between different job roles or industry sectors makes retention efforts critical for every employer.
The costs of bringing a new person into the workplace includes dollars spent on advertising and selection and lost productivity while positions are vacant or new recruits get up to speed. Turnover of employees is an expensive, avoidable drain on business resources.
Business benefits from successful retention
Advantages from a stable and competent workforce cannot be under estimated and positive results might include:
- minimal disruption due to continuous availability of required personnel;
- strong knowledge management at operational and business levels;
- long term benefits from training investments in staff;
- a reduction in lost productivity due to fewer recruitment processes;
- greater participation in processes like innovation and change;
- an increase in customer satisfaction resulting from service stability;
- gaining employer of choice status with other potential recruits; and
- stronger commitment, participation and teamwork from employees.
If you would like to find out more you can download the brochure.
You can also download all previous brochures in the Templates and resources section of this website.