Staff retention key as companies face New Year, New Job syndrome

The first few months in a new year are traditionally the most vulnerable for companies as staff consider their career options and decide to take the plunge with a new employer.

According to recent research carried out by Spring Personnel, ten per cent of companies expect an increase in staff resignation in January alone.

John Simmonds, managing director at Spring Personnel, believes that companies shouldnít just fear staff resignations in the new year or at any other time of the year; they should be considering ways in which to hold on to staff all year round.

And he says this is now more important than ever when industries are faced with a shortage of good candidates due to high employment.

ìHR directors should constantly review the opportunities being offered to staff - especially those who are valued and who would be difficult to replace. Itís worth looking at different groups of staff such as parents, older people or senior managers to work out a long-term retention strategy for each rather than assuming they would all be motivated to stay for the same reasons. For some, flexible working will be more important than a higher salary whilst for others, extra holiday would win over health club membership,î said Simmonds.

He added: ìHaving a good retention strategy could also save companies thousands of pounds in re-staffing costs. Companies need to consider other less tangible costs such as possible loss of customer service, extra pressure on colleagues and training to bring new recruits up to scratch.î

However, Simmonds points out that whilst no company wants to lose good staff, there can be some advantages from a resignation.

ìA sudden vacancy can give the company a chance to improve its recruitment processes from updating job descriptions and introducing candidate profiling to reviewing recruitment agencies and rates,î he said.