Whatever the size of your company, poor staff retention is bad for business. But it's a growing battle to keep top talent, amid accelerating trends like the shift to remote working, and workers' desire to fulfil a greater purpose.

It's made worse because employers often don't understand why their employees leave, or fully comprehend the impact of poor retention on their bottom line.  

To shed light on the issue, we've summarised 10 of the top things you need to know about staff retention. It's not for the faint-hearted….  

1. 75% of employers struggle to recruit the talent they need

It is difficult to hire the right people, but don't be tempted to hire someone who is 'almost right'. Recruiting someone who is a bad fit can be devastating for company morale, and lead to further staff turnaround. 

2. 88% of employees don't feel passionate about their work

It's important to be realistic that not all of your people are going to love their jobs - but you can maximise your chances of driving passion for the job by helping employees to feel engaged in their tasks.  

3. Only 20% of senior managers are passionate about their work

Having a leader who isn't passionate about their work will have a major impact on staff morale across the company so it's important to stay connected with those who influence other members of staff. 

4. Two thirds of employees feel overwhelmed at work 

Being stressed at work is a very common complaint - and it's one you need to take seriously due to potential health implications. The good news is you can help by offering better management and delegation of tasks. In addition, if you give staff time during the week for professional development, they'll feel valued and end up being more efficient in the long run. 

5. 50% of adults work more than 40 hours a week

Working over 40 hours a week isn't good for work-life balance, employee happiness, productivity, creativity or staff retention. In fact, people who work fewer hours often work smarter, so get more done in less time. 

6. Only 51% of employees feel engaged at work

Employee engagement is the most crucial part of staff retention - encompassing pay, passion, progression opportunities and work-life balance. It's worth investing in this area, as an effective way to resolve retention issues. sues.

7. Engaged employees are 87% less likely to leave their organisation than disengaged staff

None of us would keep watching a boring TV programme - we'd change channel, and talented employees are the same. They won't stay in roles they find boring; they'll move elsewhere to find more of a challenge. Be on guard and think continually about how to work with employees to maximise development and learning. 

8. The most common reasons employees quit their job are:

· Lack of professional development opportunities - 30%

· Inadequate pay and benefits - 28%

· Boredom or lack of challenge - 27%

· Poor work-life balance - 20%

9. 35% of employees will look for a new job this year because of their salary

It's all too tempting for employees unhappy with their salary to hunt for a bigger cheque. Make sure you keep your pay policy transparent and fair with rates which are competitive with your competitors. 

10. Replacing an employee costs between 50% and 150% of their annual salary

From recruitment expenses to repeated training, the cost of replacing an employee can be eye watering - so anything you can do to retain your talent will have a positive impact on your budget! 

The numbers paint a pretty daunting picture - so what's the solution?

If you don't want to become another 'scary statistic', follow our 5 simple steps to improve staff retention.