According to
research conducted by Ipsos Research at the end of 2020, about 1 in 4 U.S.
employees planned to leave their employer as the COVID-19 pandemic subsides.
According to
Engagement and Retention report, presented by the Achievers Workshop Institute
in early 2021, 52% of employees surveyed plan to seek new employment in
2021.
Employees
are most likely to leave a current job for one with better compensation and
benefits or better work/life balance.
The majority of employees cited burnout as the main reason.
Can you
sustain your business if you lose 25% to 50% of your employees? It is inevitable that you will see a lot of
employee movement. The type of employees
you lose will differ by industry, but no one can afford to lose their best
people.
There are
some steps you can take now to mitigate the loss and retain many of your
important people. Here are a couple:
First and foremost, identify all of the top performers that you
don’t want to lose and ask your managers to have quality communication meetings
with them at least twice a month. Get as
good a sense of their job satisfaction as you can.
Then, listen to the employee challenges and look for
solutions. Catch unsatisfied performers
before they start looking for and applying for jobs. Once they start doing that your chance of
keeping them are much lower.
If you take
just these two steps you will be well on your way to retaining your top
employees, and those retention efforts will help in keeping employees in
general.
