Since 2021, employers faced challenges to retain top talent, often due to unsystematic retention efforts. In this article, we'll explore key hurdles HR professionals encounter and provide five effective employee retention strategies.
Increasing retention is what the Juggl team has been focusing on over the last 12 years. In a highly competitive IT labor market, we maintain a relatively low 10% churn rate, which is almost two times lower than the industry average.
Now, let’s delve into the heart of the retention issue.
Today's workers often get caught in the tricky balance between work and personal life. Here, burnout is a big red flag. Think about the classic signs of burnout: a tough work style, working late into the night, and no weekends. Yep, those are the top reasons why people decide to resign.
In the US, a whopping 89% of folks felt burned out in 2021. Meanwhile, work distress comes as the first reason for the Great Resignation, according to a Limeade survey of 1,000 U.S. workers. Passing the pick resignation years, employee retention trends have evolved. Let’s explore 5 retention efforts you can do if you have not already done.
In the post-pandemic era, worker expectations have shifted, viewing hybrid or full remote setups as the new norm. Joblist notes that 45% of remote employees may leave if forced back to full-time in-office work. Owl Labs and Global Workplace Analytics show that 74% of workers feel more satisfied when they work remotely.
Remote work benefits, such as increased family time, reduced commuting, and flexible hours, are evident. You can naturally contribute to talent retention strategy, aligning your work policy with hybrid or remote mode.
Employee engagement and retention thrive when employees perceive fairness in the workplace. It's crucial for them to have clear goals and receive timely feedback through honest conversations.
Some companies lack transparency, leading employees to believe that productivity is solely measured by the number of working hours. This misconception results in workers sacrificing sleep and personal time, ultimately leading to dissatisfaction and a willingness to quit.
To retain top talent, consider to use the following tips:
Aiming for a good employee retention rate, you can try to offer benefits like a well-curated menu, tailored to individual tastes, promoting a harmonious work-life blend. Just let employees choose from options that resonate with their lifestyle.
For instance, consider family coverage for those with school-aged children or elderly parents — like extending a protective umbrella over their loved ones. Some might find comfort in pet insurance, aligning perks with diverse values within your company's culture.
To tap into these preferences, foster a space where employees freely share what matters most. It's not always automatic. Many harbor concerns about judgment or conflicts with management. Yet, expressing genuine appreciation for their non-work interests, demands, and responsibilities unlocks the door to a personalized benefits experience.
Reducing mundane work not only enhances job satisfaction but is also aligned with effective employee retention strategies. By automating processes, employees spend less time on routine tasks, freeing them to focus on what they truly enjoy.
For instance, consider your recruiters, grappling with the complexities of global payroll. To take some of the stress off, you can automate the process through specialized platforms like Juggl or similar tools.
After all, such measures help to get your employees unstuck from auto-pilot mode and be more creative and productive. In addition, when employees are happy in their roles it boosts self-esteem and influences the quality of work–life.
To retain top talent for the long term, try to ensure a comfortable work environment. Whether working in a virtual space full-time or benefiting from in-office perks and face-to-face interactions, comfort is key.
Create a welcoming environment for both on-site and remote teams. For in-office staff, maintain a clean, well-lit workspace with ergonomic furniture. Support remote workers by assisting with home office essentials or offering partially paid coworking spaces.
Enhance the friendly atmosphere by organizing events like monthly "Movie Night" or weekly "Board Games" for all team members, including remote employees. Online games or quizzes serve as a viable alternative, fostering camaraderie and trust among distributed teams.
Consider holding workshops on work-life balance, providing a space for colleagues to share ideas and experiences. This simple yet effective step can have a dramatic impact.
Which strategy from today’s post are you going to try first?
Or maybe we didn’t mention one of your favorite HR tips. Explore more insights from Juggl to maintain a thriving workplace.