Staff retention is one of the biggest concerns for businesses across the UK in the wake of the Covid-19 pandemic, as demand for workers continues to hit new records. According to the Office for National Statistics, there were 1,172,000 vacant jobs in the UK between August and October 2021.
The competition for labour created by this increased demand means that employees are likely to switch jobs to pursue new opportunities that their current company doesn’t offer. According to a survey by recruitment firm Randstad UK, 24 per cent of workers are planning to change their employer in the next few months.
As the UK pursues its ambition to 'build back better’, construction and engineering will play a key part in economic recovery, with roles in the oil, gas and renewables sector being pivotal. In a competitive arena, however, businesses may struggle to retain even their most loyal staff.
What is the true impact of poor staff retention? And why are regular...