Workers have left their jobs in record numbers this year, with many industries experiencing an unprecedented competition for talent. If you want your company to be a casualty of the Great Resignation, don’t pay any attention to some of the top reasons employees quit.
Poor Work-Life Balance
A good work-life balance accommodates the little blips and joys of your employees’ private lives – and they do have lives outside of work. It could mean the freedom to work from home (at least occasionally, if they aren’t already), adjusting hours to attend an event at their child’s school or improving workflows to help reduce overtime.
TalentLyft notes, a flexible schedule “does not mean that they won’t work the same number of hours, but that they can manage their work outside of normal work hours. They will often work more hours than the bare minimum if they are allowed this option.”
A major motivation for the “Great Resignation” has been workers’ desire for better pay and benefits.
If you haven’t already, “it’s probably time to sit down with your team and re-evaluate whether your benefits packages are equitable, competitive and honest. Identify the shortcomings and come up with actionable steps to improve your offerings,” says Forbes. “Budgeting for increases should be one of your highest priorities.”
Lack of Recognition
Everyone appreciates recognition for a job well done. How does your company acknowledge employee efforts? Many successful corporations leverage their social media accounts to spread the word about stellar employees. Doing so boosts staff morale – and signals to potential job seekers that your company values its workers.
“Companies with a strategic recognition program report less employee turnover,” says TalentLyft. “Small perks such as free meals, free parking and flexible scheduling all help to increase morale. Rewards for a job well done may come in various forms, such as a bonus check or a voucher for a meal in a restaurant.”
Lack of Career Advancement
Few people remain content in a boring or dead-end job. Employees today want a path for career advancement – one in which their employer is an active participant. A career development program may involve anything from on-site mentorships to tuition assistance for advanced education and training.
Regular and open communication sessions with staff can help managers evaluate opportunities for employee growth.
A 2018 study cited by Inc. “found that nearly half of employees surveyed had quit because of a bad manager, and almost two-thirds believed their manager lacked proper managerial training.”
Investing in salary and career improvements for your staff makes little sense unless you also invest in leadership training for your supervisors. Make sure they know how to motivate your staff, not micromanage or demoralize them, and you’ll be much more likely to develop a content and productive workforce.
TPD’s Total Workforce Solution addresses all of your talent acquisition needs – including direct hire and contingent workers – and employment relationship management, reducing your costs and freeing you up to focus on business. Contact us today for your workforce solution!