Companies with high staff turnover can lose valuable insights into the business each time an employee moves on, not forgetting the extra costs of recruitment, induction and necessary training every time a new person joins the company.
The question then is, how do you keep your staff happy enough to remain? Are there particular company perks that hold greater appeal than others or is it all down to career progression and financial reward?
According to AfroCentric Health's Executive Director: Human Resources, Lee Callakoppen, a genuine passion (focused energy) and interest in your people and recognition of their contribution to the organisation are vital.
"Developing people-centric practices and policies that enable an organisation to achieve its strategic objectives is the first step. And a key component of this people-centric focus is the acknowledgement that your staff are not one-dimensional."
He adds, "At AfroCentric Health, we believe that in order to get the best out of our employees, we need to support and encourage their total wellbeing."
This holistic approach is informed by the World Health Organisation (WHO) that sets out health in the workplace as following a framework including physical (such as healthy eating habits), mental (such as relationship and stress management), psychosocial (such as clear leadership and expectations) and financial aspects (such as financial and retirement planning).
With AfroCentric Health having recently scooped a double award-win for the Best HR Strategic Plan and Best Health and Wellbeing Strategy at the Careers24 Future of HR Awards 2015, Callakoppen shares some insights into 4 crucial steps HR professionals need to consider when planning Human Capital solutions:
Callakoppen explains, "Our employees have access to face-to-face, telephonic and on-site counseling by trained professionals; we provide on-site physical exercise programmes; and financial assistance is provided in terms of budgeting, debt management, wills and more." Interestingly, employee engagement levels with AfroCentric Health's various programmes surpass industry norms by nearly 27%.
Employees face different daily challenges that may or may not originate in the workplace. But the reality is that given the amount of time they spend at work, it's understandable that these challenges impact their ability to do their jobs. Health problems, co-worker conflict, civil legal issues and stress all play a role in productivity and wellbeing in the workplace.
Callakoppen concludes, "Attracting and retaining the best people is not just about remuneration. Far from it. It's about creating an environment that is fully supportive of an employee's development and their mental, emotional, physical and spiritual wellbeing."