Guiding you to a better future

For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Employees are happy to stay put for the right job

13 December 2017

Employees are happy to stay put for the right jobWith skills shortages raising the prospect of increased staff turnover, new research suggests that many employees are content to stay where they are.

A survey of more than 1,000 workers by BPS World has found that employees usually stay with one employer for an average of 4.5 years; and a third usually stay in one role for more than six years.

When asked about the longest time they've spent with one employer, almost half (45%) of those polled said they have worked for one company for ten years or more at some point in their career. And 43% said they'd consider staying with their "dream" employer for life.

Reasons for staying put include: "enjoyment" for 47%, followed by "being treated well and respected by their employer" for 38%. Being well-paid was important to 30% of respondents.

One third (31%) of employers polled said career progression is a key driver of staff retention; however, just 13% of employees said progression is their reason for staying. Similarly, 20% of employers said pride in working for the company is the key factor in staff loyalty; just 11% of employees agreed.

Simon Conington, md of BPS World, said: "Employers will be reassured to see that for the most part, employees are not jumping from job to job in a matter of months as some headlines would suggest. Whilst this is encouraging, it's important that businesses don't become complacent; employers that consider employee engagement to be low priority will without doubt lose talented staff.

"Employers are rightly appreciating that their staff need to enjoy what they do if they're going to hang onto them, but there is a slight mismatch in what else they believe is important to their teams, versus what actually retains a talented staff member. It's vital that they don't rely on assumptions, and encourage transparency and open conversations with their employees to foster a culture of loyalty and engagement within their business."

Meanwhile, new research published this week by Edology has revealed that there has been a shift in attitude to job-hopping. Its survey of 1,000 employers found that 82% said they would hire someone who had switched jobs in the past six months. In fact, 51% said that people who switch careers tend to be more motivated and 42% said they would be more likely to hire someone who had retrained or made a career change than someone who hadn't.

News type:

Stay up-to-date with business advice and news

Sign up to this lively and colourful newsletter for new and more established small businesses.

Contact us

Make an enquiry