With 31st January behind us – statistically the most popular day for employees to quit their job – we look at how small businesses can retain their staff, why it’s important and the role that ongoing training plays in this process.Back to Insights
How does staff retention benefit business?Staff retention is a vital ingredient for long-term business success. Prioritising staff retention means creating a culture where staff feel valued, trusted and connected to the overall success of the business. As well as being less likely to jump ship, employees who feel valued by their employer benefit business in other ways:
- They’re less stressed and therefore less likely to take time off (work-related stress is one of the most reported workplace health issues in the construction sector)
- They have strong working relationships with their colleagues
- They’re less likely to make mistakes
- They go the extra mile to promote the business
- They’re more productive, motivated and loyal.
What role does ongoing training play?Career progression and professional development are essential for job satisfaction. Companies who provide opportunities for staff to train, upskill and move up the career ladder are therefore much more likely to retain their staff. However, creating a loyal and productive workforce is just one benefit of investing in upskilling, others include:
- Fill skills gaps in your business and the wider sector
- Train within the ethos of your business
- Pay can be scaled as expertise grows
- Widen your customer base
- Tap into new markets
- ‘Future-proof’ your services
- Evolve alongside industry developments.