Month: September 2024

National Inclusion Week launched twelve years ago to highlight and engage with workplace inclusion. What began as a small event has grown exponentially, with over 9,000 people participating last year and reaching 28.1 million on social media during September 2023. Each year, more organisations take action to make inclusion an everyday reality at work.

 

Why Take Part?

National Inclusion Week is an excellent opportunity to focus on inclusion, allowing everyone in your organisation to get involved. Whether through your own events or by utilising the available resources, participating in National Inclusion Week offers numerous benefits:

 

Demonstrate Commitment: Show your staff, clients, suppliers, and other stakeholders that you are dedicated to fostering an inclusive environment.

Platform for Discussions: Use this week as a starting point for discussions around inclusion and diversity within your organisation.

Launch Initiatives: Showcase your year-round inclusion efforts or launch new initiatives during this time.

Customisable Approach: Tailor National Inclusion Week to fit your organisation’s needs and objectives.

Networking and Learning: Participate in events that provide opportunities for inclusion and diversity enthusiasts and professionals to connect, share best practices, and learn something new.

Every year, National Inclusion Week features a theme designed to focus on key aspects of inclusion and diversity. This year’s theme is…

 

‘Impact Matters’ – stylised as #ImpactMatters on social media.

 

The theme “Impact Matters” underscores the importance of making tangible changes that positively affect the workplace. It encourages organisations to focus on the real-world impact of their inclusion and diversity efforts, ensuring that these initiatives lead to meaningful and lasting improvements.

 

How Eternal Engagements Can Help

EDI Training: Access comprehensive Equality, Diversity, and Inclusion training through our training portal on our all-in-one app.

HR Policy Review: Let us conduct a free review of your HR policies and documentation to ensure they align with the latest inclusion standards.

Customisable Solutions: We provide tailored guidance to shape your National Inclusion Week activities and ensure they meet your specific needs.

Ongoing Support: Our all-encompassing HR support solution covers payroll, pensions, employee benefits, and employment law services, including employment tribunal support, to relieve the burden of HR compliance.

How to Participate

Organise Events: Host workshops, panel discussions, or team-building activities that promote inclusion.

Utilise Resources: Access our tools and guidance to help plan and execute your National Inclusion Week activities.

Showcase Initiatives: Highlight your organisation’s ongoing inclusion efforts and use the week to launch new projects.

Engage Stakeholders: Involve all levels of your organisation, from employees to leadership, in discussions and activities.

Promote on Social Media: Use #ImpactMatters to join the conversation and share your activities.

 

Ready to make your business more attractive to diverse talent with a great EDI (Equality, Diversity, and Inclusion) policy? Contact us today for a free review of your HR policies and documentation. Let us help you enhance your workplace’s inclusivity and demonstrate your commitment to diversity.

 

Book your free HR policy and documentation review now and see how we can help make your business a beacon of inclusivity and diversity.

Staff turnover refers to the number of employees who leave a company and need to be replaced within a specific time frame. Understanding staff turnover is crucial for maintaining a productive and engaged workforce. But is low staff turnover always better than high turnover? And what is the ideal staff turnover rate?

 

Low Staff Turnover

Low staff turnover means fewer employees leave the company. While there isn’t a specific percentage that defines low turnover, comparing your company’s turnover rate to the UK’s average is a good starting point. According to Monster, the average staff turnover rate in the UK is about 15% annually. This percentage can help you gauge whether your company’s turnover is above or below average.

 

Low staff turnover isn’t inherently a bad thing. It can be beneficial, allowing you to retain experienced and knowledgeable employees. However, it’s essential to identify who is leaving. Losing key employees can have a more significant impact than losing those less engaged or unproductive.

 

High Staff Turnover

High staff turnover indicates that many employees are leaving the company. You might face challenges if your turnover rate is higher than the UK average. However, not all turnover is negative. Employees may leave for retirement, travel, or career changes, which are often unavoidable.

 

Problems arise when valuable employees leave due to dissatisfaction or to join competitors. This scenario demands attention because each departure costs the company time and money in recruiting and training replacements. Understanding why employees leave and creating strategies to retain them is essential.

 

What is the Ideal staff turnover rate?

The ideal staff turnover rate varies by industry and company. For example, industries with a young workforce, like retail, often experience higher turnover due to employees leaving for further education or other jobs. It’s important to compare your turnover rate to industry averages and focus on retaining loyal, hardworking employees rather than getting fixated on the numbers.

 

Calculating employee turnover rate

To measure employee turnover, you need to follow these steps:

 

Collect Information:

• Number of employees at the beginning of the period.
• Number of employees at the end of the period.
• Total number of employees who left during the period.
• Calculate the average number of employees:

 

Add the number of employees at the start and end of the period, then divide by two.

 

Calculate the turnover rate percentage:

Divide the number of employees left by the average number, then multiply by 100.

 

Analysing your turnover rate

To improve employee retention, analyse your turnover rate by answering these questions:

 

Which employees are leaving?

Determine if senior or critical staff are leaving, which can indicate deeper issues.

 

Why are employees leaving?

Investigate the reasons behind employee departures, such as inadequate training, poor job fit, or compensation issues.

 

Are there any patterns?

Look for trends, such as increased departures after annual reviews, which might signal dissatisfaction with feedback or management practices.

 

Reasons for high turnover

• Common reasons include:
• Lack of work-life balance.
• Overwhelming workload or unrealistic expectations.
• Poor workplace culture.
• Inadequate pay or benefits.
• Lack of career development opportunities.

 

Reasons for low turnover

A low turnover rate might be due to:

 

• Competitive pay.
• Positive workplace culture.
• Engaged employees.
• Good communication between management and staff.
• Attractive benefits and incentives.
• How to Increase Employee Retention
• To reduce turnover and retain top talent:

 

Engage employees: Keep employees engaged through meaningful work and involvement in company decisions.

• Celebrate achievements: Regularly recognise and reward employee contributions.
• Listen to employees: Address concerns and make necessary changes.
• Hold one-to-one meetings: Discuss performance and career development regularly.
• Offer flexible working hours: Provide options to balance work and personal life.
• Competitive salaries: Ensure salaries are in line with industry standards.
• Conduct exit interviews: Gather insights from departing employees to improve the work environment.

 

Conclusion

Understanding and managing staff turnover is vital for maintaining a productive and engaged workforce.By analysing turnover rates and implementing strategies to retain employees, companies can reduce hiring and training costs and foster a positive work environment.

 

Ready to get started? Use our staff turnover calculator to measure your employee turnover rate and identify areas for improvement.

What is my Staff Turnover? (zohopublic.eu)