Encourage employees to stay with these five strategies
Businesses across the country are experiencing more labor shortages and hiring difficulties than they did before the COVID-19
pandemic. In December 2021, 95% of small business owners trying to hire new employees reported few to no qualified applicants.1
This tough hiring environment makes employee retention more important than ever.
Building a collegial, supportive culture can help make your business a place employees don’t want to leave.
Here are five strategies to help.
1Double down on diversity, equity, and inclusion (DEI)
of employees who left or considered leaving their jobs cited lacking a sense of belonging as their #2 reason for leaving.2
And non-white employees were more likely to have left because they didn’t feel they belonged.2
2Make the most of hybrid work
3Offer the benefits employees want most
of employees include paid time off (PTO) in their top three desired benefits, second only to health insurance.5
4Align employees’ interests with your business’s
5Help employees support their causes
- Another Record-Breaking Level of Small Business Owners Increasing Wages, National Federation of Independent Business, December 2021
- ‘Great Attrition’ or ‘Great Attraction’? The choice is yours, McKinsey, September 2021
- The Power of Belonging: What it is and why it matters in today’s workplace, Coqual, June 2020
- Winning the War for Talent in the Post-pandemic World, Future Forum, June 2021
- 12 Employee Benefits and Perks for Your Hiring and Retention Plan, Robert Half, November 2021
- Survey Data Shows Lower Turnover Among ESOPs, National Center for Employee Ownership, July 2020
- Igniting Individual Purpose in Times of Crisis, McKinsey, August 2020
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