Posted: Wednesday, 7 November 2018 @ 10:01
Ever rising business rates are putting increasing pressure on
Scottish businesses to cut costs to remain competitive. Recruitment costs in
Scotland have sky rocketed in 2018 with businesses paying an additional £70m in
recruitment fees and £87m for temporary staff. Although it is hard to predict
when people are going to leave, how long it will take to find a replacement and
how long that replacement will stay for, there are steps organisations can take
to recruit and retain staff that keep costs down.
employees feel valued
Attracting and retaining the best talent can be a daunting
prospect, especially for smaller organisations who can’t offer the in-house
massage schemes, private gym memberships and private healthcare plans of the
However one of the top things employees look for in a potential
job is ‘having a sense of purpose’. Indeed 50% of millennials would take a pay
cut for work that matches their own values. People want to work for an Organisation
that does good. Whilst not every organisation can have a noble cause, performing
social good by having a company charity or giving employees extra days of paid
leave to volunteer in the community goes some steps to achieving this. Yes they
do cost but when compared to the cost of agency fees, it’s worth the
On a more personal level flexible working is becoming increasingly
important to workers, providing laptops to work from home and flexible hour’s
means employees have more flexibility to work the hours that suit them, rather
than the static 9-5.
and development opportunities
We admit we’re a little bias, however the figures don’t lie.
Training is becoming increasingly
important in UK businesses as a point of differentiation. With 50,000 high
street jobs being axed in the first 6 months of the year, organisations that
invest heavily in staff training and customer service such as Hotel Chocolat
and the seemingly unstoppable Pret A Manger are continuing to buck trends,
employing more staff, expanding business operations and to deliver a rise in
profits: The chocolate powerhouse has seen a 15% rise to their profits of 2018.
Apprenticeship are a cost effective
way of upskilling staff to provide them with the skills they need to succeed.
Proven to reduce staff turnover, increased training can also boost
productivity. Indeed a single chartered manager delivers £391,443 in added
value to an organisation and the National Apprenticeship Service data shows 80% of companies who invest
in apprentices have reported a significant increase in employee retention.
Recruiting young Apprentices into your business demonstrates to
them that you’re investing in their future from the start. They are likely to stay
with the employer beyond the length of the programme (12-15 months) and more than half (57%) of employers
report a high proportion of their apprentices going on to management positions.
Inspiring loyalty in these young
staff members is key; in the Generation Z society the average person will have
9 careers in their lifetime that’s a new career every 5 years!
It’s also cost effective to
recruit an Apprentice. Our Apprenticeship Recruitment Service is FREE to use
and the qualification is fully funded if the Apprentice is aged 16-19, with
selective funding available for the 24 age bracket.
It doesn’t have to cost the world and money isn’t the be all and end all
in retaining your staff. Developing a nurturing culture so that you grow
together goes a long way with your employees and can help you attract bright
talent and keep your future leaders, keeping your Recruitment costs down.