Retaining staff can be challenging. One recent report found that UK workers change job, on average, every five years – and that millennials could have held four different jobs by the age of 31. Here, we take a look at how you can help to increase your employees’ satisfaction.
Offering attractive incentives
When recruiting employees and designing incentives, it can be helpful to segment your workforce. Research suggests that different generations look for different workplace incentives. While earlier generations have favoured medical and dental insurance, the option of taking extra paid leave carries more weight for millennials. Millennials also appear to favour the more tech-savvy employer –those with a more digital operation.
Boosting employees’ quality of life
Experts are increasingly linking the ease with which staff can be retained to overall feelings of wellbeing. Evidence shows that quality of life incentives can have a disproportionate impact on staff perceptions.
Quality of life incentives can be radical and potentially cost-free. Offering staff the opportunity to bring a dog to work, for instance, could transform an employee’s experience. Allowing staff to listen to music on headphones, or personalise their work space, are other low-cost, but potentially high impact, suggestions.
Establishing a two-way flow of communication can allow employers to identify what works for staff and areas where change is required. This can be achieved through carrying out regular staff satisfaction surveys.
Helping to minimise financial stress
Research shows that possibly as many as 40% of employees are under financial stress. This can lead to lower productivity,absence, poor working relationships and can impact mental health. A new, and increasingly popular, move to help here is staff financial education. Providing advice on budgeting, savings and planning for retirement can make a valuable staff incentive package.
To discuss options for employee incentives, please contact us on 01392 211 233.