2020 sparked one of the biggest waves of employee turnover in history. Unfortunately, to the detriment of employers across the world, turnover had already been a prevalent issue before COVID and the ensuing pandemic.
This rise in turnover has made finding ways to keep employees content in their current positions a critical task for businesses, marking a sizeable shift of conventional aspects of employment to focus on retention. So too have traditional office policies and employment practices undergone a notable shift.
As an industry-leading provider of back-office workforce solutions, this topic is right up our alley. So we compiled some of the top six workplace trends we’re seeing that are helping our clients overcome turnover rates in this unpredictable employment market.
1) Embrace the New Normal
The COVID-19 pandemic saw the rise of remote work as the new normal for countless positions. With the freedom to work from the comforts of home, employees have found a greater deal of leeway and work/life balance.
In April of 2021, a survey was conducted by FlexJobs of over 2,100 professionals across the globe. According to the results, 65% of professionals want to continue working remotely even after the pandemic comes to a complete end.
2) Create a Positive Work/Life Balance
One of the biggest causes of employee turnover is when the job does not allow for a healthy balance of our obligations between our professional and personal lives. If the balance for work and life is out of whack, it can be it extremely stressful for employees to focused and fully present in ther jobs and at home.
If employees cannot tend to their daily needs like tending to their kids or running vital errands due to an overly demanding workload, they could be driven to quit. In fact, an SHRM article from 2020 discusses a survey that found 84% of workers blame poor work/life balance on unnecessary stress.
3) Recognize Hard Workers
There is nothing more disheartening to an employee than when they work their hardest and do not even get so much as a “good job.” Recognizing an employee’s work ethic and efforts is essential to maintaining them as an employee.
Employees who feel their hard work is not being appropriately appreciated are much more likely to move on to a new job that will offer the validation they deserve. When your employees truly distinguish themselves, be sure to recognize their achievements in a way that doesn’t make them feel uncomfortable or put on the spot.
4) Offer Financial Incentives
Sometimes, recognition is not always enough to reward employees’ efforts. For those who demonstrate remarkable diligence in their duties, offering financial incentives such as bonuses or even permanent salary raises shows appreciation for that effort.
This is especially true in this new job market. Today’s job seekers are looking for more benefits in their prospective employers, and financial incentives are on the top of their list. By defining a reward system for outstanding performance, you could position your company to attract the best talent in your sector.
5) Promote a Healthy, Safe, and Fun Work Culture
Some businesses may have “trouble employees” that can make your workplace challenging, or even unsafe for your team. This can have a crippling effect on your whole business.
In a classic case of “you have to break a few eggs to make an omelet,” you may need to get rid of the bad employees in order to retain the good ones. Be clear about your no-tolerance policy for harassment and discrimination and keep track of incidents and employee arguments with acute detail.
But also, remember to celebrate the good times as well. Make efforts to bring your workforce together to socialize and have fun.
With clarity and follow-through of workplace policies and creating opportunities to bring your team together, you’ll be taking proactive steps to running a healthy, safe, and fun work culture.
6) Provide A Roadmap for Growth
One final way to reduce employee turnover is to ensure that your employees know where they stand in terms of their professional development. Employees who feel as though they are stagnating in their current position will be less interested in sticking around. Especially if they have a better chance at professional growth somewhere else.
Being transparent about your employee’s path for professional growth will not only provide clarity about their future in your business, but can create more engagement in what they do and passion for their output.
Wrapping Up
Too often, employees are viewed as a resource rather than actual human beings. When they are overlooked, mistreated, or improperly trained, they’ll be far more likely to leave. This is a big problem for employers who are not only trying to retain employees but are trying to help their business thrive and make it profitable
One of the most effective ways to retain employees is to partner with ESSG. As the leading provider of employment and workforce solutions, we can ensure that you day-to-day busywork of running a business is taken care of. You’ll have more time and head-space to focus on what matters most: your employees.
If you are having trouble keeping up with your business opperations, and would like to spend more time creating a better workplace, finding qualified employees, contact ESSG. We’ve made a name for ourselves by providing the very best employment and workforce solutions that have been proven to retain more employees.
