IDS Study 863, February 2008

Improving staff retention

While a certain amount of staff turnover can be beneficial, a high rate of attrition can have a negative business impact if left unchecked. Employers seeking to improve retention should first establish realistic expectations by studying regional or sectoral benchmark data. They can then explore contributing internal factors by determining their own turnover rate and gathering qualitative information that may shed light on the underlying reasons prompting employees to leave. Having uncovered the full extent of the problem, they can then seek to improve retention through a wide range of initiatives spanning reward, development and work-life balance.

In this Study:

Analysis

Devising a retention strategy:

• Measuring staff turnover
• Counting the cost of attrition
• Benchmarking turnover data
• Understanding the causes
• Addressing the problem

Labour turnover statistics:

A review of some of the main sources of turnover information and key findings from recent surveys

Case studies

Details of the steps taken to improve staff retention at:

• Trinity-Chiesi Pharmaceuticals
• FirstGroup
• Beard
• BUPA Care Homes
• Lightbody Celebration Cakes
• Pembrokeshire County Council