Retaining employees can not only speed production rates and save countless hours of administration, it is also highly cost-effective. Recent studies have shown it can cost up to three times the amount of an employee’s salary to replace a skilled position. This means companies could potentially be spending millions in filling vacant positions.

These days many professionals are leaving their job at the drop of a hat for the promise of bigger and better things. “Employees have higher expectations and know the market is saturated with vacancies. Many are likely to leave at just the slightest increase in pay,” says Sean Blanche, Queensland State Manager for specialist engineering recruitment agency Bayside Personnel.

“The best way for businesses to avoid staff turnover is by taking proactive measures. This means employers must invest in their employees’ long term. Part-time training programs can upgrade skills and fast track their career progression within the company; offering ‘completion bonuses’ for employees who see projects the whole way through; and also financial compensation and promotion can empower employees and demonstrate employee loyalty,” Mr Blanche advised.

It is also imperative that when businesses employ, they look for the best ‘cultural fit’ for both parties. When talent pools are low, companies should look to experts in the field who are well equipped to assess a candidate’s motivation, experience, and cultural fit. Using a recruitment consultant also allows for less administration costs, and results in a better sourced and higher quality candidate.

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“When choosing a recruitment agency, it’s best to look at the amount of industry knowledge they have. At Bayside Personnel, all of our consultants have an engineering background, gained through education, work experience, or both. Therefore we understand the dynamics of the business and only select candidates who will uphold business standards and over time grow with the company,” said Mr Blanche.

The biggest human capital challenge in companies today is finding and retaining quality employees. By being proactive in keeping ‘employees happy’ and ensuring the right cultural fit, employers can save on hefty administration and staff turnover costs, while at the same time increasing productivity.

Bayside Personnel assists businesses in attracting and retaining pipeline professionals across Australia and the Middle East. As part of a Labour Agreement awarded by the Federal Government earlier this year, Bayside is one of only a few recruiters with the ability to sponsor overseas professionals for on-hired work in Australia. Bayside recruits construction professionals, pipeline engineers, consultants, project managers and government regulation staff to the pipeline industry.