Employees seem to be job-hopping more than ever.
Whether it’s because of the unstable economy and job security due to COVID-19 or discontentment in a current position, millennials and Gen Z employees seem to have a hard time staying in one place for too long.
According to a new study from IBM’s Institute for Business Value, one in five workers switched jobs within the past year. 33% were Gen Z and 25% were millennials.
As an employer, this can be disconcerting, especially if your best employees are leaving.
So, why are so many people job-hopping?
Learn what job hoppers are looking for in a new career and how to keep your best employees.
Why are employees switching jobs?
There are several different reasons why employees are leaving their current jobs.
Some employees are looking for an entire career change as a worldwide pandemic forced them to rethink the scope of their life and work contribution. Others are simply looking for a better company that will provide the job stability that some companies did not provide during COVID-19.
5 Ways to Keep Your Best Employees
As an employer, it’s important to consider why people in the workforce are job-hopping and figure out ways to combat decreasing retention rates.
When you’re able to identify why people are job-hopping, you can learn what to offer potential future employees and how to keep your best employees.
Here are five ways to keep your best employees.
Offer better pay and benefits.
One of the biggest reasons employees are looking for other jobs is because of current pay and benefits.
As an employer, this is something to keep in mind. If employees feel like they are being underpaid with few benefits, they will look for other opportunities.
You may only be able to offer your employees so much salary-wise. However, if you present opportunities for growth and raises, your employees will feel valued and know that there are opportunities to increase their salaries.
Also offering better benefits will increase your retention rates. Not only do better health benefits help your employees and their families, it also shows that you genuinely care about your team members.
Employees who feel cared for by the company will be more loyal and likely to remain with your company for the long term.
Offer reasonable time off.
Similar to great benefits and reasonable pay, if you want your best team members to stay with your company, reevaluate your company’s time-off policies.
When team members do not take a break, they risk burnout. Burnout is when a person experiences physical and emotional exhaustion due to stress-related work responsibilities.
When employees have the opportunity to take a break, they can reset their minds and take time for self-care. Also, consider your company’s sick day and maternity and paternity leave policies.
You can’t give out too many days off, but when you prioritize the health of your team, they will thank you for it. It will also boost retention rates, overall company productivity, and morale.
According to a recent article by the Harvard Business Review, “Pacing workflow can be highly beneficial to enduring employee relationships.”
The goal is to establish long-term commitments between your company and employees. One of the best ways to do this is by giving your team a break when they need one to avoid burnout.
Prioritize a healthy company culture.
Many people looking for a change in jobs are looking for a company with better company culture.
Organizational culture sets the precedence for the way departments and employees behave, communicate, emote, and work. It establishes a shared set of values and goals among employees and the business.
There is no one correct company culture. There are several different types of company cultures. Every team responds to company cultures differently, and it often depends on your industry.
When you make company culture a priority, your team will feel valued.
Set a precedent for open communication.
Communication is key to any healthy relationship, especially in the workplace.
As a leader, it’s important to emphasize the importance of communication. When your team feels like they can give honest feedback, your business will grow and develop in a healthy way.
Open communication helps your employees engage with one another and lets them know that what they do is vital to the team. When team members do give feedback, be sure to actively listen and show that you care.
Here’s one thing to keep in mind: it’s impossible to please everyone, but it is possible to listen. Even if you don’t do what your employees are proposing, be sure to acknowledge their emotions and thank them for sharing their opinions.
Keep your employees informed and let them know the reasoning behind certain decisions. Your employees will feel respected, a part of the team, and will respect you more as a leader.
Establish trust and avoid micromanaging.
Along the lines of open communication, establishing trust between you and your employees is important. It’s even important for your team to trust one another.
One of the best ways to accomplish this is by establishing open communication. However, another way to establish trust is to avoid micromanaging your team.
When you micromanage your team, it establishes a sense of distrust and limits your team’s capacity to grow and learn.
Instead of micromanaging, empower and encourage your team in their work. When you free up space in your mind from the minute details, you have the capacity to focus on the big picture goals for you and your team.
How CCA Can Help
Hire the best employees and keep them so your team can continue to grow and succeed.
The way you hire your employees and treat your team will improve significantly when you take the time to analyze the reasons for job-hopping and how your company plays into the equation
At Corporate Chaplains of America, we work with businesses nationwide to provide teams in the workplace with the support they need to get through life’s ups and downs.
When you invest in professional and emotional support for your employees, you show that you care for them as human beings, not simply as employees.
At CCA, our team is dedicated to you and your team. Your chaplain is a trusted confidant that your team can go to, whether your company is in person, is remote, distributed, or any combination that makes your team unique.
Our chaplains are available 24/7 for you and your team. When your employees have someone to talk to, it can make company transitions seem a little easier.
Contact Corporate Chaplains of America today to learn how to support your team as you seek to grow a thriving, healthy work culture for your team.