During the pandemic, we need to fully understand the essential nature of employee retention. Especially the better ones. The costs of employee turnover can be quite high. With regard to the disruption of business. As well as the costs of recruiting and training new workers.
We need to avoid disgruntled employees.
Infographic Tips: The Essential Nature of Employee Retention
According to Niall McCarthy, reporting for Statista:
People decide to leave their jobs for many reasons. Whether it’s the need for a new challenge. A desire to change city. The need to escape a boss you cannot stand any more. Or the chance for a bigger paycheck. That last point is actually the chief motivation for American workers quitting their jobs. That, according to a survey from PayScale.
And as Kathryn Mayer notes for Human Resource Executive:
A staggering one in four employees plans to leave their employer after the COVID-19 pandemic subsides, according to a new survey. That number is even higher for millennials and employees with children at home in remote learning situations, with one in three planning to jump ship once the pandemic is over.
Prior to March 2020, when the pandemic triggered an economic shutdown and massive layoffs, employers were experiencing high rates of employees job switching. But since then, quit rates reached their lowest level in nine years as most employees stayed in survival mode. Now, many industries can expect a resurgence of turnover as employees likely will feel they can make job moves they have put off for the past year, according to the survey from Eagle Hill Consulting.
For advice about improving employee retention, look at the infographic below from iHire.
