Page 26 - BOSS Today Issue 46

BOSS Today #46 DOWN TO BUSINESS – IT’S NOT (ALL) ABOUT THE MONEY

IT’S NOT

(ALL) ABOUT

THE MONEY

The UK average employee turnover rate is approximately 15% a year

o you know your staff turnover For many companies, though, the duvet days are necessary: these new-
Drate? According to jobs website challenge will be maintaining a low style perks are relatively insignificant
www.monster.co.uk, the average staff turnover among the staff they want compared to adequate annual leave, a
turnover in this country is 15% per to keep: the high performers, the healthy pension and flexible hours.
year. In the private sector and some talented, the engaged, the keen, the
specific industries it’s often much flexible and the quick learners. n Perkbox (www.perkbox.com): offers
higher, leading to expensive recruitment discounts and freebies from big
processes, the redistribution of Perks Of The Job name brands, including coffee shops
work tasks and, in some cases, Perhaps surprisingly, money isn’t and language learning software.
negative effects on the optimism and everything when it comes to hanging on n The Work Perk (www.theworkperk.
commitment of remaining staff. to your best people. A survey by Aviva com): sends product samples to
However, it’s important to remember earlier this year found that while salary staff (these recently included
that staff turnover isn’t necessarily a is the most important factor for people Pukka Tea, Polo Mints and Red
bad thing. Disengaged, disinterested starting a new job, it is work-life balance Bull) and the first one is free.
and under-performing staff can mean that is the key benefit that explains why n Perk Pal (www.perkpal.co.uk):
reduced productivity, low morale and a people stay in a job. Among the 18-34 uses points to reward employees.
sluggish company culture, so replacing age group especially, Glassdoor found Its ‘peer to peer recognition’
them with new hires, chosen with fresh that 89% prefer benefits and perks over function gives colleagues the
ideas and enthusiasm in mind, can a pay rise. This doesn’t automatically opportunity to thank each other
breathe new life into a workplace. mean that Friday beers, yoga classes and or nominate a workplace hero.

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