A 2015 survey by Jobvite found nearly 50 percent of all employees are open to leaving their employer if a better offer comes along, and since that survey was conducted, employment prospects have only gotten better for today’s professionals.
The fact of the matter is: Employers should be concerned about their top employees leaving; taking aggressive actions to keep these professionals satisfied. A drive to learn new things, make more money, grab a more prominent position and escape a bad situation are the main reasons people seek a new job, and now that the economy is generating jobs again, skilled professionals have more opportunity than ever to reconsider their current situation.
Addressing the most common reasons to leave can go a long with to keeping your best employees around. Below is a brief list of ways to address those reasons.
Take a University Mindset
A common way to look at the structure of a company is to see it in a military sense: People start out at the bottom and get enough recognition to earn a promotion; slowly moving up through “the ranks.”
However, a more useful mentality is looking at a company as if it were a college or university. Secondary learning institutions are always bringing in freshmen and graduating seniors. They are providing an education, allowing students to grow both personally and academically.
Also, by adopting this mindset, businesses can actually stand to gain when someone leaves. Just like alumni continue to support a university, former employees who felt a business was a crucial part of their career will advocate for the business.
Offer a Range of Career Growth Options
Sticking with the university mindset – employers need to find ways for their employers to learn and grow. There are three primary areas people can grow their career: Within the scope of their own job, outside the scope of their job, and advancing to a new job.
A company can allow its employees to grow within their own job by investing in employee training and new technologies. Cross-training and interdepartmental projects give staff members the chance to work outside their normal job duties and gain new experiences.
Finally, employees need a chance to advance, particularly into leadership positions. Advancement is difficult in smaller companies, but small organizations can still provide leadership opportunities by offering the chance to lead a project or initiative.
Consider Your Office Space
Surveys often show that location is a crucial factor when it comes to job decisions, and different locations mean different things to different generations. For instance, if you’re having trouble bringing in new ‘freshmen,’ you may want a location near a college or downtown area. On the other hand, if you’re looking to retain more ‘seniors,’ an easy-to-reach suburban location might be ideal.
Offer Competitive Pay/ Work-Life Balance
While pay will always be a big factor in employment decisions, work-life balance is increasingly becoming something today’s workers want. Chaining employees to the office for 40 hours doesn’t make sense, especially when your competition allows its staff members to work from home a few days a week.
At Action Group Staffing, we fully support all of the employee retention efforts of our clients. Please contact us today to find out more about how we can support your organization.