Over 4.2 million Americans left their positions in October. (That’s around 2.8% of the overall workforce in the United States!) Simultaneously, job openings bumped up close to a record high at 11 million. This leaves many companies struggling to stay afloat following an already impossibly difficult year. If you want to avoid falling victim to the great resignation, beat your competition to offering your team members what they really want. Here’s how to keep your employees from quitting.
A steep rise in inflation has completely negated any economic progress employees might have made in the past year. So, as prices increase around them, employees are quickly feeling left behind. Now is the perfect time to do a salary audit and bring employees up to market prices.
Many workers are still feeling the pressures of child and family care amidst the lingering COVID-19 pandemic. Others still experienced a taste of remote work and increased work-life balance that has left them wanting more. Offering work flexibility – remote, hybrid, or fluid hours shows that you listen to employees’ needs. Need advice on how to implement it at your company? Check out our post here.
Don’t Let Your Team Get Behind In Hiring
This might seem counter-productive, but the further you get behind in hiring, the more your current employees feel it. Many are burdened by balancing their former peers’ workload on top of their own. So, hire quickly to replace key team members! Some great ways to do this are partnering with a recruiting firm to discover talent, requiring less experience right off the bat, and making offers virtually over video.
Workers have more job listings to browse than ever, and employers are making incredible offers as they are desperate to hire. So, to avoid losing your best employees, make them an offer they can’t refuse before they even try to leave! Looking for more hiring and retention advice? Browse our client resources here.