It's the moment all employers dread: a highly rated employee asks for a private word with you, then says they are leaving to take up a job elsewhere.
The news may be unexpected, but perhaps it’s not surprising in the property industry, where estate agents experience a high staff turnover of between 40% and 50% percent.
As a recruitment agency specialising in hiring property professionals, we are often asked how to retain employees. That's why we have put together our five top tips on encouraging staff retention:
1. Is your candidate the right fit?
When a candidate shines at an interview, it may seem obvious to shortlist them for the job. But are they right for the job role and your company culture? On average, businesses pay over £30,000 to replace a member of staff, so it can prove costly if your recruit doesn’t fit in.
2. Can you offer flexibility?
For many employees, lifestyle benefits are just as attractive as a good salary. An open approach that includes flexible working hours or a job role that can be shared between two people can encourage staff to stay on for longer.
3. Supporting your star performers
It's important to recognise and reward talent if you want to increase employee retention. That doesn’t necessarily mean a rise in salary: you could offer staff members opportunities to train and grow within your organisation, so they have a clear sense of career progression.
4. Maintain an open dialogue
Encourage open and honest communication within your company, and you'll be the first to know if a staff member becomes dissatisfied. By giving praise when it’s due and offering constructive criticism when needed, you'll earn the respect of your employees.
5. Find out why staff are leaving
Exit interviews are essential if you want to discover the reasons behind an employee's decision to leave. While it may be too late to prevent your staff member from going, what you'll learn from an open exchange during the interview process could influence how you handle staff matters in the future.
At Crux Careers, we use our vast network of contacts to find great candidates you won’t see elsewhere. We also screen applicants, making sure they are the right fit for your company. If you would like some expert help with recruitment, we’d love to hear from you.
Why not get in touch with us today?