Many of today’s successful businesses choose to house their employees in executive suites, because they have seen how the right space can unlock their company’s potential. Likewise, keeping your employees engaged in their work is the key to retaining them for the long term.
What Employees Want
Knowing what fosters loyalty among employees is the first step to achieving engagement and retention.
- Pay: Forbes.com lists salary as the number one criteria for determining whether or not to accept a position. Do not underestimate the power of the paycheck.
- Mobility: A Flexjobs survey revealed that 84% of working parents cited flexibility as the most important factor in a job. Employees always have their personal devices with them, and they appreciate being able to conduct both personal and professional business on one device from any location.
- Benefits: The AICPA.org reported that 80% of American workers would choose a job with benefits over an identical job with a 30% higher salary and no benefits.
- On-The-Job Training: Udemy.com found that 70% of today’s employees would be more focused on their job duties if they received training. A Bridge by Infrastructure survey found that OJT is the most important learning opportunity for job satisfaction.
What Causes Them to Leave
While there will always be outside influences that contribute to an employee’s departure, you may surprised to learn how many factors are actually in your control.
- Stress: Korn Ferry stated that 65% of professional workers suffer from work-related stress. An excessive workload is often a contributing factor.
- Lack of Opportunity: Most employees are looking for future growth within the company. A survey by getbridge.com showed that 67% of millennials would leave a position that did not offer advancement opportunities.
- Greener Grass: WestMonroePartners.com reported that out of the 60% of employees who are contacted by recruiters, 43% accept a position with another company.
The Generation Gap
Generational differences in your company can be a cause for conflict or an opportunity for creativity. According to a survey by the Society for Human Resource Management, 51% of HR professionals found that different generations can work together effectively.
With the unemployment rate at its lowest since 1969, we currently have a record number of job openings in the United States. This paradigm shift means that employers will be competing for talent instead of employees competing for jobs. Now is the time to implement changes to attract the best and the brightest.