Research from Best Companies Ltd., the organisation behind the Sunday Times Best Companies to Work For lists, proves that engaged staff means less employee turnover.
Best Companies have researched more than 900,000 employee opinions from thousands of organisations across the UK, giving unparalleled data and real-life examples of best practice that shows organisations how they can boost performance in an increasingly competitive marketplace.
From this year’s data our research has found that companies in the Sunday Times Top 100 Companies to Work For had 21% lower employee turnover compared to the organisations that didn’t make the lists. Recruiting good staff is expensive, the Chartered Institute of Personnel and Development (CIPD) reports the average cost of labour turnover at £7,750 per leaver. This reflects a saving of £310,000 per annum for an organisation with 1,000 employees who can achieve levels of employee engagement equalling those listed Best Companies.
Jonathan Austin, Founder & CEO of Best Companies says “With many organisations having to reduce their headcount, it is critical to ensure that the talent left within the organisation is engaged. When the upturn finally happens you need to ensure you don’t lose this talent to your competitors and put yourself under pressure to recruit; which we know is an expensive business”.
Best Companies is a workplace engagement specialist which aims to “help make the world a better workplace”. Over the last decade Best Companies have researched and identified the drivers in sustainable business performance; their research shows that the key to this is workplace engagement.
Registration for Best Companies Accreditation and The Sunday Times Best Companies to Work For list process 2010 is now available. Make sure you don’t miss this opportunity to see what your employees say it’s like to work for your organisation; after all they know better than anyone!
