AUCKLAND, NEW ZEALAND - Workplace flexibility has been linked to a staff turnover of 10 percent and less in some Auckland companies, according to a survey conducted by Aquent, the leading global staffing firm specialising in marketing, communications and creative talent.
The Aquent Orange Book 2008-2009, a salary survey and industry monitor of key Asia Pacific and European markets, found 77 percent of Auckland companies surveyed with this low staff turnover used flexible work practices as a staff retention strategy.
“The desire for work/life balance is not new in New Zealand. In many respects it’s simply intuitive that providing flexible work opportunities is linked to more satisfied employees,” said Aquent International CEO, Greg Savage.
“But the Aquent research now provides empirical data to show that money and other traditional drivers of job satisfaction are simply not enough alone to attract and retain key employees anymore.”
Retention is vital, given the very high average staff turnover rates recorded for numerous sectors, including corporate marketing (27 percent), media agencies (26 percent), advertising agency creative (26 percent) and account management (23 percent), and design agency account management (21 percent).
The Aquent Orange Book also showed discretionary bonuses (76 percent), external training (58 per cent), and internal company training (57 per cent) to be popular retention strategies among Auckland employers.
Yet it would appear opportunities for shared and part-time employment, to work from home, and for flexible hours and leave arrangements may contribute most significantly to a more committed and loyal workforce.
“It also opens up access to wider pools of potential recruits, including well-skilled, qualified women with children, as well as mature-age workers, who could re-enter the labour force under more flexible work practices,” said Savage.
“It’s not without pitfalls though - a great deal depends on the role, and it depends on the individual.
“But it is certainly true that if your company has not yet examined this desire from staff, you will have extra challenges retaining people.”
Aquent is the leading global staffing and outsourcing firm specialising in helping companies find marketing, communications and creative talent. With 70 offices in 17 countries, they have an unmatched network of professionals that enables them to deliver the right solution for any client need and provide exceptional career opportunities for their talent.
Today Aquent has over 11,000 professionals working at over 3,000 companies. Over the course of its history, Aquent has made over half a million matches of professionals to our clients on an individual, team or through an onsite or offsite managed service basis. The company’s Asia-Pacific headquarters are in Sydney.
About the Aquent Orange Book
Now in its fourth year, The Aquent Orange Book is an industry reference document on salaries and hiring trends published in two editions – Asia Pacific and Europe. Internationally, the Aquent Orange Book covers the following categories, among others: marketing, market research, creative, design, digital, advertising, MICE, publishing, editorial, media, PR and communications, and is targeted towards senior managers.
The survey provides salary information, detailed statistics on staff turnover, retention strategies, talent sourcing strategies, salary increase percentages and forecasts on permanent and contract hiring trends.
For more information on the Aquent Orange Book, please contact Carolyn Hyams, Asia Pacific Marketing Strategy Manager on +61 2 8288 8288 or firstname.lastname@example.org