A Pew Research Center survey conducted in 2022 found that 63% of surveyed employees cited low pay as the reason for quitting, while 43% cited subpar benefits. Low pay and lackluster benefits play a big role in employee resignations. Develop a (better) benefits and compensation strategy More than half of surveyed employees at the end of 2021 reported that flexible work policies influenced their decision to leave or stay with a company.Īs a result, companies should abandon a one-size-fits-all approach to how work gets done, focus on results, and let employees decide how they work best, whether remotely, in-office, or hybrid. Today’s employees value flexibility more than ever. Pulling some or all of these levers can result in returns on employee satisfaction and engagement. Feedback loops through employee engagement tools to identify signs that employees are unhappy.Avenues for giving and receiving employee recognition, for instance, in Leapsome.Interest groups for employees to connect on shared interests, e.g., Slack channels, book clubs, etc.In fact, according to Zippia, highly engaged employees are 87% less likely to leave. Regardless of whether a particular demographic makes up most of the turnover, fostering social collaboration and team building helps boost workplace culture and employee engagement, too. Diversity and inclusion training framed as learning opportunities about unconscious bias, workplace harassment, how to foster an inclusive workplace environment, and how to be an ally.Freedom to establish employee-initiated, employee-led employee resource groups (ERGs).In response, a company can create or revamp diversity, equity, and inclusion (DE&I) initiatives in the organization by offering: These efforts, in turn, help boost morale and foster connections that make employees want to stay.Įxamining turnover data more closely in terms of demographics might reveal that the company culture doesn’t respect and value employees from a range of backgrounds, identities, and abilities. However, investing in employee engagement software, social collaboration tools and workplace events helps to set a new tone for the company culture. Fixing workplace culture is a feat that will take time. New and tenured employees alike might be leaving due to toxic company culture. Perhaps the onboarding process is unclear, or many tasks are manual, which points to issues with the software solution or how its workflows are configured. Employee feedback from exit interviews, as well as HR metrics pertaining to employee engagement and time-to-productivity, offer insight into how to support new employees better.įor example, if engagement among new employees seems to be an issue, HR team members can help new hires plug into the company culture by introducing them to others in the company through welcome events, checking in routinely, and establishing an onboarding buddy system. HR teams can turn to a number of data sources to adjust their onboarding process. If employees are quitting within their first year, this suggests they’re not adjusting well to their new roles or the organization in general. Optimize employee onboardingĪ crucial part of understanding turnover is recognizing the speed at which employees come and go. Combining this data with workforce analytics can uncover more patterns that lead to more effective employee retention strategies. Over time, exit interview data might reveal common themes that departing employees mention. Reasons might include insufficient compensation, poor management, or lack of growth opportunities. Doing so helps managers and HR staff understand why an employee is leaving the organization. HR teams can remove the guesswork from voluntary departures by conducting effective exit interviews. Facilitate employee training and development.
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