You’re concerned at the prospect of losing key staff and having to recruit and develop new people. So you want to make sure you’ve got the right salary and benefits package in place. You’d also like reassurance that your organisational culture is creating opportunities for progression, personal development and employee satisfaction.
What do I need to consider to retain key staff?
When employees are deciding whether to stay or move jobs, they will consider the total reward package on offer. Pay, benefits and personal development opportunities are key – but so is organisational fit, culture, management style and the job its self.
From an HR perspective, your business strategy determines the overall reward approach; you need to drive those behaviours that achieve business success. In other words, the employees who exhibit the required behaviours and deliver results must be rewarded through career and pay progression.
In practice that isn’t always as easy to address as it sounds, for example:Are your people clear about organisational direction and enthused in its delivery, or do you need to build employee engagement?
Some people have the right values, but need development or a different role to succeed – how easy is that to achieve?
Other employees may be great at getting results, but behave contrary to your values - do you want to retain them or not?
How Paydata can help you retain your key staff?
Pay and benefits benchmarking
Pay benchmarking data to help you understand the market and create pay policies that balance staff retention and cost management.
Job evaluation software
Helping you to identify career paths and manage personal progression through Job Evaluation
Total Reward Statements
Helping you communicate the value of the package you offer.
Research and insights
Find out what people really think, gauge employee satisfaction and encourage input to your policies and procedures with Research and Insights.
Would you like to know how Paydata can help you retain key staff? Get in touch
Tim is a passionate HR specialist with over 20 years’ experience in pay and reward. As a director of Paydata, Tim has worked with thousands of satis...