Slashing costly staff turnover

With costly issues of staff turnover affecting New Zealand businesses, workers reveal that flexible working is often the make-or-break of job offers. A staggering 73% reveal that they would choose one job over another similar one, if it offered flexible working, finds the latest survey by Regus, the global workplace provider.

 Recruitment is an expensive process that many global businesses are keen to reduce. In New Zealand, the cost of staff turnover is estimated to be three times the person’s salary[i]. Statistics New Zealand June 2013 data indicating the national median salary of $44,000[ii], meaning the indicative cost of a staff member leaving a business is $132,000.

With over one in three Kiwi businesses saying employee retention is a major priority[iii], flexible working can provide a solution to three significant issues: hiring costs, attracting new staff and retaining top workers.

The Regus survey, canvassing the opinions of more than 20,000 senior executives and business owners across 95 countries, confirms that in New Zealand flexible working can be used to avoid costly employee turnover. In fact, 72% of Kiwi respondents point to flexible working as a perk that attracts top talent and 75% say that it improves staff retention.

 The research also found that:

·         67% of respondents say offering flexible working makes employees more loyal;

·         56% of workers would actually turn down a job that ruled out flexible working;

·         51% say they would have stayed longer in their last position had flexible working been an option.

Commenting on the study, Nick Bradshaw, Country Manager, New Zealand for Regus says: “The reality is that staff turnover is expensive, it’s an age-old issue but it means that staff retention is a major priority for kiwi businesses. 

“In order to reduce this cost, businesses need to remain agile and offer flexible working methods. This could be the option of working from home a couple of days a week, or utilising local business centres such as Regus – either way managers need to make sure their staff have the right tools they need in order to work flexibly. It can help with attracting top talent and it does so as a more cost-effective option.”

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For more information contact:

Laura Douglas laura@launchgroup.com.au +612 9492 1002 / +61452 505 859
Ashford Pritchard ashford@launchgroup.com.au +612 9492 1040 / +61411 020 680

About:

 Regus is the global workplace provider.

 Its network of more than 1,700 business centres in 100 countries provides convenient, high-quality, fully serviced spaces for people to work, whether for a few minutes or a few years. Companies like Google, Toshiba and GlaxoSmithKline choose Regus so that they can work flexibly and make their businesses more successful.

 The key to flexible working is convenience and so Regus is opening wherever its 1.5million members want support - city centres, suburban districts, shopping centres and retail outlets, railway stations,motorway service stations and even community centres.

 Founded in Brussels, Belgium, in 1989, Regus is based in Luxembourg and listed on the London Stock Exchange. For more information, please visit:

www.regus.com