Construction firm Redrow has reduced its staff turnover rate by 7 per cent
through increasing its employee benefits package.
The house building firm has managed to cut turnover from 30 per cent in July
last year to 23 per cent by extending staff benefits, including increasing
holidays and offering cash instead of a company car.
The company’s 1,250 staff’s annual holiday entitlement of 23 days a year has
been increased to a minimum of 25 days and a maximum of 30 days a year,
depending on length of service.
HR director Karen Pope said the move to improve benefits was specifically
designed to improve the retention of staff and help the company beat the
industry’s crippling skills shortages. "The industry is very hard working
and an increase in holiday is something that was valued by staff as they
appreciated that it helped to improve their work-life balance."
Redrow also scrapped the compulsory company car for its 500 most senior
staff, offering them a cash alternative.
Pope said: "It has really made a great difference to morale amongst
employees [who have taken up the scheme]," said Pope.