With a workforce of around 150 people, Listawood are a manufacturer of promotional products such as ceramic mugs, fridge magnets and mouse pads. The company have made a firm commitment to creating a culture of flexibility and support for those needing to balance their home and work lives, often at short notice, which they believe is a significant driver of their strong record of staff retention.
The recent economic downturn, and increased competition from emerging low wage economies has placed enormous strain on Listawood’s sector, creating pressure to keep staff costs low. As part of their performance management framework, Listawood regularly survey their employees to measure staff satisfaction. The company are aware that they do not offer the best salary levels in the area – indeed only 56 per cent of staff surveyed felt their pay was competitive when compared with other employers locally. However their deep rooted culture of flexibility is well recognised by staff – 97 per cent felt that the company offered better opportunities for work life balance than other employers in the area.
Explaining their approach, Managing Director Alex Turner said: ‘Losing highly trained staff is incredibly disruptive in any business. In the sales environment it fractures customer relationships which can result in reduced levels of business, and in the factory it compromises manufacturing efficiency. On top of this you then have to bear the costs associated with recruitment and training for their replacement. We are in no doubt that our staff retention levels are driven by our attitude to work life balance rather than the generosity of our remuneration packages. This makes it possible for us to remain competitive and profitable in a highly competitive market, even during these unusually difficult trading conditions.’