Keeping the Team
For all organisations whether they are small medium or big there is a huge cost involved in not keeping staff which we wish to retain. All employers know the cost of losing a key staff member is not just monetary but involves a huge time cost of other the cover the person, replace and bring up a new person up to speed. Critically today, with low levels of unemployment around the world an increasing acceptance alright multi roll career path, those of us with staff or long term contractors need to be constantly aware their most valuable asset goes home each night and we generally want them to come back. Today, most businesses continue to rely on people skills and we have no outsourced to AI that characteristic of humans initiative.
McKinsey’s have recently issued a study focused on medium size S&P 500 companies which again found that it is costly to have staff leave or to be dis-engaged with the company.
This study found that the six key factors leading to the disengagement all the employees were:
● Inadequate total compensation (mainly pay) - 12 per cent
● Lack of meaningful work - 12 per cent
● Lack of workplace flexibility - 11 per cent
● Lack of career development and advancement - 10 per cent
● Unreliable and unsupportive people at work - 9 per cent
● Unsafe work - 9 per cent
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Businesses that address these six facts to keep so that their key asset remains focused on the work and being engaged At Projects RH we do see our team members and clients working long and unusual hours some because we work across the world and have team members and projects from North and South America to Europe and via Asia and Australia. People need to be flexible but also understand it needs to cut both ways. It also means managers need to be respectful and grateful when team members do an 11:00 pm call with a client who is offshore. ?
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It is our experience that Projects RH that good staff who feel involved in the company and know they are respected are less likely to leave. We're also seeing even young entrepreneur / CEOs wanting to hire older mature people, as he sees it people over 40, because they have more commitment and e added they know their job and have a good work ethic.
Employers are looking for loyal and dependable staff. There is a bridging acceptance amongst projects are HS client base that staff don't need to be in the office to be productive and that means that staff can generally be allowed to locate where they choose. Nevertheless, many companies continue to want to have their employees attend the office one to two days a week to gauge in training and also to allow that personal dynamic, a synergy, to occur amongst the team. We share their view that most teams are more than the sum of the individual members and for this to occur there needs to be interaction. This interaction need sun only occur with the manage her but also with the appears and other members of the management team. I I remember from my early days that matches the corporate culture was shared in the tea room and it too was a place of great It is coaching
It is clear staff need to be rewarded properly. They should expect to work in a safe environment and have a supportive manager. They must feel aligned and included. Today we much have some flexibility but it needs to be respected, Most middle to small businesses cannot offer rapid promotion but they need to reward performance. It is unrealistic for staff to expect employers to fund training which will lead to them leaving the firm.
At Projects RH the collective experience of the team is communications between the manager and? his staff is the most critical. This requires a mix of communications such as quarterly conferences, weekly workshops or meetings but also respecting the team as people to do what they are empowered to do.
The answer lies in actions not words. When staff are engaged they need to be given a realistic expectation or what is expected and how they will be compensated.
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Paul Raftery
CEO
Projects RH, Sydney, Australia
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Source Iyer, P.; “Keep Staff Happy and You Save Million”, The Weekend Australian, 21-22 Oct 2013, p. 36. (Online: ??https://todayspaper.theaustralian.com.au/html5/reader/production/default.aspx?pubname=&pubid=d5f86309-c928-4e0e-b526-b143f04dbd26 ?Also see https://www.mckinsey.com/featured-insights/themes/how-to-create-a-happy-workplace