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Personal incentives

The trick to effective staff retention is not to offer the same incentive to everyone, but to offer a personally tailored package, advises Geraint Jones

8 May 2015

A few years into the depths of the last recession, I was discussing staffing with a friend in a similar sized firm. What he said went something along the lines of this: 'Now is the ideal time to create your perfect team. There are a lot of good quality people around who have been made redundant, often through no fault of their own. It's a great opportunity to significantly upgrade the quality and performance of your department.'

The wheel has now turned fully and a recent conversation I had went in completely the opposite direction. Now we were talking about how we can recruit and retain good quality staff. As the big firms continue to recruit heavily and drive up salaries, keeping young and ambitious staff fully motivated and invested in the firm grows increasingly difficult.

Anyone who has been involved in recruiting and training staff knows that it is a very expensive ...

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