What is IoT and what does it mean for your business?
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The Employee Retention Problem
Is your business suffering from:
- High employee turnover?
- Poor performance?
- Constant staff complaints?
- Lacklustre company culture?
- Poor career development opportunities and job satisfaction?
You may have a voluntary turnover problem.
Beyond poor pay and a lack of progression, inadequate technology and processes remain some of the biggest factors why employees leave a company. Up to 50% of employees quit due to these conditions, and replacing workers can be tricky.
But it’s not all bad news… In many cases, just one piece of new technology can have a game-changing effect on the employee experience, raising employee satisfaction and forging a productive workforce – and Elite Group is your gateway to these innovations.
Boost Employee Retention with Technology
According to Elite Group research, 37% of employees feel their teams are “not very collaborative”, leading to strained working conditions. This emphasises one area that can instantly be improved with new technologies: Communications.
At Elite, we specialise in intelligent cloud communication tools businesses can use to improve efficiency, reduce downtime and protect data – all from the same convenient platform.
How UCaaS Can Improve Employee Retention
With multiple ways to communicate, it’s easy for staff to become disenfranchised or overwhelmed.
A Unified Communications (UC) platform combines all the communication tools a modern business needs into a single, easy-to-use solution. These tools include:
- Voice chat
- Instant messaging
- Video conferences
- File transfers
- Digital collaborative spaces
By bringing together all these separate tools under a single banner, employees can save time, boost productivity and enjoy reduced stress levels.
As a cloud-based solution, it’s accessible from any internet-connected device. This instantly opens the doors to more effective remote and hybrid working; a great way to offer your staff more freedom and flexibility in their work.
How CCaaS Can Improve Employee Retention
If customer communications are the source of your staff’s woes, Contact Centre as a Service (CCaaS) may prove to be an invaluable tool.
Like UCaas, CCaaS offers a similar structure and benefits, giving customers the opportunity to reach out via their preferred channel – be it a phone call, live chat, video call, or another service – for a truly versatile omnichannel experience.
Again, housing all these tools in a single platform simplifies work for contact centre staff. And because AI-powered chatbots can resolve the majority of simple customer queries or direct them to the correct agent much faster, reliance on in-house staff is reduced, further easing pressure.
How AI Can Help You Retain Employees
AI usage has exploded in recent years, with many businesses utilising it to improve operations and complete mundane administrative tasks.
Leexi AI Notetaker is an excellent example – automatically transcribing meeting notes while producing easy-to-follow round-ups, so no core information is missed.
Compatible with in-person and online meetings, Leexi can also translate meetings into 120 languages, making international calls more accessible than ever.
Maximise Employee Engagement and Retention with Elite Group
If you’re struggling to increase employee retention, and you think tech could be to blame, it’s time to talk to the pros.
At Elite Group, we’ve been helping businesses onboard the latest and greatest tech for many years, making us an easy choice if you want to improve workplace processes to the delight of your employees.
By keeping hold of existing staff, you’ll save time, reduce spend and enjoy longer proactive relationships with workers who are thrilled to provide for your company.
Sound good? To discuss how new technologies can be used in your employee retention strategies, speak to a member of the team today.
Frequently Asked Questions
Why is employee retention important?
Aside from keeping staff content, employee retention is important for numerous reasons: Continued productivity – When employees leave a company, there is often a lapse in productivity and quality of work while new starters are brought up to speed. Morale improvement – The more staff leave a company, the more demotivated remaining staff can feel, ultimately impacting mental health. Turnover costs – Your business will undoubtedly experience losses (hopefully in the short term) during the hiring process of a new team member. But by adopting the above technologies, you can reduce internal pressures and foster a more positive working environment.
Can you measure employee retention?
Yes, you can! There’s a pretty simple formula you can use to measure employee retention: Employee Retention Rate (%) = (Number of employees at end of period – Number of employees who left during period) ÷ Number of employees at start of period × 100 A 90% retention rate is generally considered a good number to aim for.
Which industries have the best employee retention?
Government, Education and Finance are three of the most common sectors when positive employee retention rates are being discussed. Why? This is still debated – but there’s a strong chance that, across all three, you’ll see strong communication practices, along with more in-depth manager/employee relationships, as well as artificial intelligence playing a part – all of which can be accomplished by onboarding new technologies.
What other factors affect employee retention?
Replacing high-performing employees always causes issues, which is why it’s worth retaining them if you can. But the saying is true: A busy worker is a happy worker, and engaged employees always seem to have a library of effective tools at their disposal. Employee recognition programs are also encouraged, giving staff constructive feedback while reinforcing professional development opportunities and job security. Of course, competitive salaries are always a hot topic, too. If an employee’s annual salary is less than they feel it should be, they may already be seeking other opportunities. So, to reduce turnover, you may consider examining your workforce’s pay scales.
Speak to an Elite Group Agent Today
Are you ready to transform your business communications? Please fill out your details and submit the enquiry form and will contact you at the earliest opportunity. Get ready, your journey starts here!
