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 reduced 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 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.
Karen
Pope, HR director at Redrow, said that 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.
She
said: "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, instead
offering them a cash alternative – with the amount dependent on the position
and car grade of the employee.
Pope
said that between 10 and 15 per cent of eligible staff have taken up the cash
alternative.
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"It
has really meant a lot to the staff that have changed and made a great
difference to morale among those employees," said Pope.
