Retaining people may be one of the biggest challenges you will face as your business grows. Today's businesses and organisations increasingly have to compete with one another to attract and retain the best people. As skills become more portable, and people more mobile, employees also have a wider range of choices.

What Are The Key Factors In Retaining Staff?
What Should I Look Into?
Where Can I Get Help?

What Are The Key Factors In Retaining Staff?

• In a case study of 9 different companies across various sectors, the Ministry of Manpower (MOM) has identified 5 key factors critical to staff retention:
  
  
  • having a planned approach
  • retain people as individuals or groups
  • value people through a strong organisational culture
  • invest in employees
  • approach retention as a long-term, not short-term strategy

What Should I Look Into?

• National Wage Guidelines
  The National Wage Guidelines help businesses benchmark their salaries and wages on a national level.

• Singapore's Flexible Wage System
  The Government recommends all businesses to adopt a flexi-wage system to cope with downturns and to motivate employees.

• Government-Funded Training Programmes
  The Government funds various programmes to help subsidise the cost of training your manpower.

• Developing Work-Life Strategies
  The Work-Life Works! (WoW!) Fund gives grants to companies who develop work-life strategies.
  
  
• People Developer Standard
  People Developer is a certification process that helps you to take a systematic and integrated approach to training and developing your staff.

Where Can I Get Help?

• You can contact these organisations that work with the Government to help businesses in human resource matters.
  
  
  • Enterprise Development Centres (EDCs)
  • Singapore National Employers Federation (SNEF)
  • Singapore Human Resources Institute (SHRI)
  • SPEC Management Consultancy Interest Group