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Staff retention strategy needs tweaking in economic revival

Three in five companies are reporting a rise in the number of offers received by their workers from rival employers over the last year, according to a recent survey.

Despite this, more than half of businesses have no staff retention strategy to cope with the threat, the research from HR recruitment specialist Ortus found.

Even fewer (43 per cent) had updated their strategy since the beginning of the economic revival.

Counter-offers rejected

As competition for talent intensifies, the survey discovered that nearly two-thirds of companies make a counter-offer to try to retain employees. Usually (for 69 per cent of employers) this is within existing pay structures.

But it appears that this is often not enough to stem the outflow of talent. More employers had had their counter-offer rejected (42 per cent) than accepted (38 per cent) by a headhunted employee.

An analyst from Ortus said that as the number of positions available increase, companies need to work harder to retain their top talent.

Acas publications and services

Acas experts can visit your organisation to help you monitor and analyse staff turnover, and develop ways to improve your retention capabilities. See Recruitment and Retention: how Acas can help for more information.

Practical training is also available on Staff retention, covering a range of issues, including tackling 'Toxic workplace cultures' and finding 'The route to successful employee engagement'.

For free, impartial advice and guidance visit Acas Helpline Online.

Visit the Acas Training Courses, Workshops and Projects area for more information.

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