According to the U.S. Bureau of Labor and Statistics, 4.5 million people a month leave their jobs. The average turnover rate across the nation is up to 47.2%. If you’re worried about losing employees and wondering what you can do to avoid The Great Resignation, follow these tips:
Provide Education Benefits
There’s a massive boom of job opportunities out there. 11.3 million job openings to be exact. This has created a job seekers’ market and the one thing 94.5% of workers are seeking is education benefits. In the survey at the previous link, most workers said they’d stay at their current job if their employer invested in long-term education.
A company that wants its employees to stick around and grow with the company should invest in their growth. Whether that be a degree related to their field or simply providing free online training through sites like LinkedIn Learning, employees who have a desire to learn and become better at what they do should be rewarded.
Better Pay & Benefits
Are you paying your employees the market rate? Are you offering a competitive benefits package? One of the more positive changes to come from the pandemic is that many employers are revising their benefits packages to better support their workers.
Work and life are two interconnected elements that affect one another and employers are recognizing this. Providing your workforce with fair pay and the benefits they need to live a healthy life is a surefire way to increase the happiness of your employees.
If you’re paying less than the market rate, consider revising your pay scale. You may fill that vacant position, but you’ll have to lower your expectations to do so.
Flexible Shifts & Remote Work
Being more flexible with when and where your employees work has become one of the most popular trends luring people away from their current job. Many employers rigidity drove people away from their jobs to begin with when the pandemic hit.
70% of companies interviewed in this survey said they were adopting a remote/hybrid work structure. The same survey also reported remote workers were happier than office workers. Reasons like less commute time, being easier to live a healthy lifestyle, and spare moments to handle household chores gave these workers a better work-life balance.
If you’ve experience problems with retention are just expanding your workforce, contact Employ Partners today.
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