Preventing Turnover Post-pandemic
Turnover is a common occurrence throughout any given year. However, during the COVID-19 pandemic, turnover rates fell dramatically. Now, a significant number of employees are unwilling to return to the status quo that was established pre-pandemic. That’s a major reason why experts predict a “turnover tsunami” coming in the latter half of 2021.
What Employees Want Post-pandemic
Generally, workplace survey data from the past year illuminates some commonalities between worker desires across industries. The following are some of the most coveted changes workers are looking for post-pandemic:
- Flexible work options
- Protection from burnout
- Competitive compensation
Considerations for Employers
To stay ahead of these trends, employers will need to look inward toward their unique employee populations and determine what’s important to them. This inquiry may include surveying employees to learn about what they are looking for. To help meet the demands of a workforce, employers can consider implementing changes, such as:
- Providing remote or hybrid working arrangements
- Providing flexible scheduling options
- Adopting or expanding employee assistance programs to help with mental health and burnout
- Increasing compensation or bonuses
- Having managers meet more frequently with employees to discuss challenges and concerns openly
Each organization is unique, and its employees may have varying opinions about what they value. Let's have a conversation about how you plan to mitigate turnover in your company.
Additional articles from the August 2021 edition of the Univest Employee Benefits Newsletter:
- The Impact of Biden's Competition Executive Order on the Health Care Industry
- Proposed Rule Would Update Benefit and Payment Parameters for 2022
- Retain Employees Through Training
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