10 ways to boost your staff retention

7: Reward and recognise

Earnings may have suffered during the recession, particularly for staff heavily reliant on bonuses, which is why some motor retailers such as Pentagon Group and Swansway Garages are reconsidering their pay bands now the car markets are recovering.

Swansway HR director Rachael Monfredi said Swansway recently brought in independent HR adviser Sagegreen to conduct a benchmarking exercise, aligning roles across its dealerships and comparing pay within Swansway and against industry averages. Results will be presented to Swansway’s board and shared with its workforce.

Recognition is also a powerful tool. Swansway holds annual awards where employees with five years’ service receive a solid silver pin and those with 10 years’ get a solid gold pin, both engraved with Swansway’s values: ‘Caring, honest and proud’. Separate awards lunches are held each quarter for the group’s ‘unsung heroes’, who each receive an award and vouchers.

Next tip: Exit interviews