No more than ever, professionals are increasingly concerned with the prospect of career development in their current and future positions, particularly millennials.

Studies have shown that younger generations are more likely to seek out growth opportunities than generations before. With millennials being the cornerstone to our future, businesses must act now by investing in initiatives to retain valuable staff.

In today’s digital environment, where employee poaching and headhunting has become the norm, companies that work towards creating a more inviting workplace that fosters career satisfaction will help to reduce improve employee retention rates. Alone, this can be a challenge, but by working with a Professional Employment Organisation like ANZPEO, you would have the resources and expertise on hand to create a work environment that entices your employees to stay on.

Here are all the ways ANZPEO can help improve employee retention:

Finding and employing the right people for the job

Did you know that around 30% of New Zealand workers leave their job within six months of starting?

When workers leave a job early on, it can cause businesses to lose momentum, disrupt workflow, damage internal relationships and cost companies thousands. To replace one employee, it can cost up to half of that employee’s first year’s salary!

Working with ANZPEO means you’d benefit from our expertise in the local market, as well as reliable pathways to finding you the right candidates for your open positions. Because your business is only as valuable as the people behind it.

Giving your employees the tools to succeed

Finding the perfect talent for the job is promising, but what good is it having them there if they don’t have the right tools and resources on hand to get the job done correctly?

Studies have found that companies that have a robust onboarding process, a focus on transparency and trust, above standard training programs and access to HR support whenever it’s needed have a 40% higher retention rate than companies that don’t.

Workers who feel secure in their position are confident in their management teams and are given the tools they need to grow as professionals are more engaged and have higher productivity levels. They’re more likely to stay on with the company if they’re feeling supported.

Paying them a fair wage

Ever heard of the saying ‘pay with peanuts, you’ll get monkeys’? Truer words have never been spoken when it comes to the world of business. Fair remuneration is a considerable contributor to job satisfaction. They want to be recognised for their expertise and hard work and want to feel nurtured and part of a team. But if they’re paycheck at the end of the month doesn’t match up, then who’s to say they’re not going to jump ship to another company that is willing to paying them more for doing the same job?

Working with ANZPEO means together, we’ll be able to offer value to your employees by giving them access to a dedicated HR department with the skills and expertise earned from over 30 years in the industry.

Is your business suffering from low employee retention?

If your business operates in New Zealand and you’re suffering from diminishing employee retention rates and poor performance, get in contact with ANZPEO today to find out how we can help you seek avenues of improvement.