Employee turnover is something virtually every company wishes to sidestep. After all, not only does training new team members require an extensive time and money commitment, but bringing new people into the mix tends to disrupts day-to-day business. (On top of all that? When you have a great, consistent core group of people to work with, your working environment is a lot more fun!) Recent data, however, suggests that up to 52% of North American employees have plans to search for new work in 2021. What is the reasoning behind this shift analysts have dubbed “The Great Resignation,” and what steps can your company take to curtail employee turnover? Read on to find out.
Why is Employee Turnover Expected to Increase?
Of course, team members leave positions for all sorts of reasons, ranging from new additions to the family, to a spouse’s career move or a simple desire to try something else. Texas A&M University Associate Professor Anthony Klotz boiled the current shift down to a few key factors. Lockdown measures kept many would-be jobseekers with their existing companies for longer than anticipated, for instance, while it also led folks to take a step back, evaluate their circumstances and make major life changes based on what they deem to be most important. The freedom and flexibility associated with remote work is also something not everyone is willing to give up. In addition, a general sense of burnout associated with living through a global pandemic seems to have driven many workers to find employment elsewhere.
How Can Your Company Keep Employee Turnover at Bay?
Although every work environment is different — and therefore, employee retention efforts will be, as well — there are a few key considerations that can help your company hold onto talented team members.
- Remain Flexible: Many employees became accustomed to the freedom working from home had to offer. Consider ways your company can allow for that continued freedom, even if your team is back in the office. Maybe that means the ability to work from home on agreed-upon days, or the flexibility to run midday errands. Simple gestures can mean a lot to team members, and tend to make them feel appreciated.
- Listen to Team Member Comments and Concerns: Simply asking team members for their input might seem like common sense, but you’d be surprised at how many employers miss this step. Be it through an anonymous suggestion box, a team member brainstorm or simple “Hey, tell us how you feel” type of email, such information is HR gold. Gauge how your team members feel about the current work environment, what they’d like to see in the future — and any concerns they might have, too. Open, honest discussion is always a productive thing.
- Keep Team Members’ Mental Health in Mind: As was stated above, burnout is a key reason behind many workers’ decision to leave their job. How can you, the employer, help? Consider encouraging team members to use their available time off, or incorporate “lighter” workdays into the mix to give the team time to breathe between projects. When it comes time to re-evaluate your company’s benefits, you might even consider adding mental health options to the mix.
There is no magic solution to keeping employee turnover to a minimum, but efforts such as those listed here can go a long way toward creating a positive environment. If you’re looking for additional information, our HR Insights sheet is a great place to turn. Download your copy here. Your BCH team is always happy to help, as well. Feel free to reach out at any time!