Date
23 October 2017
More holidays and benefits and flexible working hours will help companies keep the staff turnover rate in check. Photo: Bloomberg
More holidays and benefits and flexible working hours will help companies keep the staff turnover rate in check. Photo: Bloomberg

High attrition rate? Try giving your employees more time off

With the new generation of workers tending to change jobs frequently, employee retention has become a major challenge for corporate enterprises. Companies are forced to seek new ways to ensure the loyalty of their staff. In Hong Kong, some firms have found that giving extra time off to the employees is a good way to keep them motivated and happy.

Web development and marketing firm Baby Kingdom, which employs about 50 people, now allows its workers to get an extra day off if their children get B+ or better behavioral grade at school. A similar benefit is given to employees who enlist as volunteer workers in the community, Apple Daily reported Thursday.

According to Baby Kingdom, most of its employees with children now have earned the extra day.

The firm’s founder and operations director Rainer Sip was quoted as saying that for employees who do not have children, the company offers cash incentive worth HK$300 (US$38.7) each for them to give to their parents. Employees who do not have a record of lateness or too many sick leaves qualify for that incentive.

Following a series of welfare policies, the attrition rate in the company as fallen to 3-5 percent in recent years, Sip said.

Singapore-based DBS Bank, meanwhile, has also implemented an employee care program since 2010 for its 4,200 employees in Hong Kong. Two paid days of leave per year for family care and birthday are offered.

In addition, the employees can enjoy flexible working hours or half-day work if they have the need to take care of families. They are also encouraged to leave early at 5 pm on Fridays. And to help employees pay more attention to their health, the bank reimburses the cost of physical check-up, glasses and even gym fees by up to HK$3,000 a year.

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