Employee retention should be a priority for businesses regardless of their size. If you’re regularly having to replace and train new staff, then you’re committing resources that could otherwise be focused elsewhere. There are varying reasons why an employee may want to leave. However, there are many actions a business can take in an effort to reduce the likelihood of staff turnover. We’ll be looking into the reasons why, what a business can do and how on-site fitness facilities can help to solve part of the problem.
Employee retention is all about keeping team members employed. Companies should have an employee retention strategy that offers things such as bonus packages, staff benefits and perks in a bid to reduce staff turnover. Understanding why it happens, how you can combat it and measuring the rate at which your staff leave the company can offer an insight into employee satisfaction. In a nutshell, if you’re looking to operate a successful business, then you should aim for high employee retention or low staff turnover.
Employee retention is particularly important due to the cost implications and the business risk involved. Here are some of the key reasons businesses should take employee retention seriously:
Although the reasons why an employee leaves can be extremely personal and sometimes hard to predict, the following issues are a common occurrence amongst job leavers
If you have a strategy in place for employee retention, then you’ll be inadvertently increasing the attractiveness of your business to potential employees. All of this comes down to what you can offer staff, both existing and new. Although something such as an on-site fitness facility can increase the wellbeing of your current employees, it can also give you the competitive edge if a top candidate is considering their options for employment.
"68% of job seekers will choose a role that offers an attractive employee package over their other options"
After understanding why it’s important to your business and the reasons staff turnover exists, the next step is to develop a strategy that improves your employee retention.
Employee rewards do not have to be in the form of cash bonuses or expensive outsets for your business. They can simply be things that employees benefit from for being part of your company. This can come in the form of subsidised costs for local leisure memberships, quality on-site facilities and even something such as an extra days holiday can help employees feel valued.
As an employer, you’re likely to run into different types of employees. Some will be happy to come to work and do their job and return home to their own lives. Others will feel like they need to be continuously developing to feel satisfied with their job. Development of your employees can be through internal training, but it can also mean satisfying their personal goals. Maybe there’s a location they want to visit, a fitness goal they want to reach or a qualification they deem to be needed. Speak to them, understand what it is they want and act accordingly.
There has been a focus recently on the balance between working and personal life. Some studies believe an imbalance is leading to mental health issues and employee dissatisfaction. It’s up to you as an employer to give your staff the opportunity to balance their life, if that’s what they need. For example, working from home days, the option to purchase or earn more holiday or providing them with high-quality facilities.
We recommend that any business considers the benefits of an on-site fitness facility such as a gym. They can be a great way to retain and attract new employees. Many people engage in fitness in their personal lives at their own expense, so offering this to your employees can help them in the following ways:
We see the benefits of corporate gym design and installation projects from our past work. They’re a fantastic way to tick many of the boxes that could otherwise lead to disengaged employees. Understanding how fitness and associated activities can benefit both a business and its staff are at the forefront of what we do.
With the given space, we’ll carefully design a solution that is cost-effective for your company while ensuring your staff will be excited to use it. The benefits are there to be seen; exercise will increase the productivity, engagement and happiness of your staff, which is a key factor in the wellbeing of your staff. We also offer ongoing management services, such as digital gym programs and fitness staff. This can help to make sure your team is utilising the equipment correctly and benefiting from the new facilities as much as possible. Get in touch if you’re considering a corporate gym or have any questions, and we’d be happy to advise you.