As we wrote about in an earlier post, the U.S. is in the “Great Resignation,” with a startling number of workers leaving their jobs—and leaving their former employers with the costly and difficult task of replacing them.
Providing the flexibility to work at home is one proven way to improve employee retention, but what should you do if the nature of your business makes it necessary for employees to be physically present at the workplace? Here are a few ideas.
Start with compensation
It perhaps goes without saying, but increasing compensation is one way to improve employee retention rates. Keep in mind that there may be creative ways to do this, including one-time or performance-based bonuses.
Take a hard look at benefits
A weak benefits package is another top reason people leave their jobs. Explore all the different kinds of benefits you might be able to offer, including healthcare, retirement, paid leave, overtime, and profit sharing.
Again, look for creative ways to give employees more of what they want without doing too much damage to the bottom line. Also remember that employee turnover comes with a high cost of its own, both in terms of lost productivity in the interim and in the need to spend time and money finding, recruiting, hiring, and training new employees.
Support work/life balance
There are a number of ways to support employees’ work/life balance, which can help them be more engaged and productive—and more likely to stay with your business for years. Consider taking steps like these:
- Encourage breaks during the workday
- Increase support for parents
- Offer more time off
- Add perks to alleviate stress, like in-office massages and healthy food
- Ask for employees’ ideas on how to improve work/life balance
Keep the workplace safe
Another reason for today’s high level of turnover is employees’ desire to work in a safe workplace free of COVID-19 fears. Be sensitive to the range of concerns about the pandemic, as well as other safety issues, and look for measures you can implement that will help all employees feel that their health is a priority for the business.
Get the support you need
Insero Talent Solutions provides affordable direct-hire solutions to companies of all sizes, as well as outsourcing and co-sourcing solutions on a temporary or long-term basis to help keep employees engaged and thriving. If you need to add employees, we’re available to help with recruiting, hiring, and other tasks.