Credit card issuer Capital One has cut turnover at its Nottingham call centre by spending more time recruiting to ensure it hires the right people for the job.
The firm has a turnover rate of 18 per cent among call centre staff, about 10 per cent lower than average for the sector.
Capital One's management turnover is also about 10 per cent lower than average at 5.8 per cent.
Laurie Hibbs, head of management recruitment at Capital One, said these figures have been achieved by their painstaking recruitment process.
He said, "We hire from the top 5 per cent in the workplace. We use a combination of psychometric testing, behavioural interviewing, case studies and some elements of personal profiling. A lot drop out, but we're sure we have the best person for that role."
Hibbs told Personnel Today that the company's excellent benefits also contributed to the low employee turnover. These include a gym, a subsidised restaurant, a generous pension scheme and an employee share purchase plan.
Hibbs said although Capital One paid average salaries, the total reward package for staff was in the top 10 per cent in the sector.
A bonus scheme plays an important part of the firm's reward strategy and is directly linked to an individual's performance.
Capital One also contributes £50 per person every quarter towards a fun budget that is used to organise parties, excursions and other team events.
A staff survey revealed 95 per cent of employees were satisfied with the people they worked with and 93 per cent were proud to work for Capital One.
By Ben Willmott