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Outdated Management Styles Managers significantly influence employees’ motivation, satisfaction, and retention. A study by Chartered Management Institute (CMI) in collaboration with YouGov, found that one in three employees have left their jobs due to a negative work culture. HR & Payroll Pain Points in Managing Turnover Turnover introduces several operational challenges for HR and payroll teams, such as: Administrative Burden Processing final payroll settlements, tax documentation, and compliance with PIT regulations strain HR and payroll teams. Notice periods often result in operational delays, as transitioning employees focus solely on handovers rather than new tasks, which results in disrupted workflow and delays projects. Reputation Impact Negative reviews from departing staff on platforms like Glassdoor can tarnish an employer’s brand, complicating talent acquisition efforts. These reviews shape potential candidates’ perceptions,
making it harder to attract skilled talent. Smart Retention Strategies To address these challenges, organisations can implement several effective retention strategies, some of which are as follows: Build Belonging & Culture Employees stay where they feel valued and where the company values align with their own. Open communication, inclusion, and trust are the foundation of long-term engagement. Therefore, creating a strong sense of belonging and a positive workplace culture is essential. This can be achieved through strong onboarding programs and inclusive leadership to significantly increase employee engagement. Additionally, regular recognition and appreciation of employees’ contributions can emphasis a sense of value and belonging, enhancing overall job satisfaction. Implementation of Modern Payroll Systems Seamless payroll is not just about compliance, it is also about trust. Mistakes in salaries, delays in payments, or missed benefits can decrease employee confidence
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GLOBAL PAYROLL MAGAZINE ISSUE 12
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