If you are an employer, you may have had some trouble recently trying to keep employees around. In fact, in the United States, 4 million people quit their jobs in April 2021. However, this is not surprising considering what the COVID-19 pandemic has done to change our work lives. Retaining your employees is more complicated than ever in today’s competitive job market. This phenomenon has been coined the “Great Resignation,” where currently employed job seekers are leaving their jobs in a drive to pursue new opportunities. So, what can your company do to prevent your best employees from jumping ship for greener pastures? Here are three helpful tips to boost your employee retention rates and offer an overall better experience for your staff.
Any future or current employee is always looking to make money for a variety of reasons. Offering competitive pay is an attractive way to retain your employees (and attract new job seekers too). If you are not offering compensation packages similar to other companies in your industry or area, you will likely fall victim to the Great Resignation. Take some time to review your employees’ salaries and ensure they are competitive, or you will probably see more staff members begin to jump shop to your competition.
Flexible work environments
There is no doubt that COVID-19 has forced employees across every industry to work in flexible environments. However, this shift in the way we operate is not going anywhere. More and more employees desire the additional flexibility in their work lives to continue. This could include having the option to work from home or even work in a hybrid environment. To support this, 39% of people of respondents in a recent survey would consider quitting their jobs if they were not offered the flexibility to work remotely. It’s more important than ever to find compromises that allow employees the flexibility to work remotely in some capacity.
Keeping employee’s well-being in mind
Speaking of well-being, did you know that 44% of employees feel more burned out now than they did almost a year ago? This is due to many factors, but the most notable are stress and just having too much on one’s plate. Within your company, it is a great idea to keep your employee’s well-being in mind by fostering a work environment that supports physical, mental, and emotional health needs. To avoid resignations, it’s essential to regularly check in with your employees to see how your team can support your employees.
Need more resources to avoid the Great Resignation?
There are so many creative solutions to avoid the Great Resignation from happening to your company. In today’s market, it is vital to support your staff physically and mentally to improve your retention rates as well as attract job seekers. These tips are just a few overarching ideas for creating a better working relationship with your employees. To get even more inspiration to improve your employee experience, check out more of our client resources!