How to Retain Employees and Stop Them From Job-Hopping (What Makes Them Stay)
Over the last few years, there has been an increase in employees changing jobs with reasons to move companies ranging from gaining new skills, experiencing a new office culture, better progression and more money. This has led to the term ‘job-hopper’.
In this article we’ll explain what a job hopper is, and how to retain employees so your business can thrive.
What is a job-hopper?
A job-hopper is essentially someone who changes their job role or career often in a short space of time, ‘hopping’ from one job to another in quick succession.
You can spot a job-hopper by taking a look at their CV or LinkedIn profile and viewing their previous roles. Some employers see this as changing workplaces every 1 or 2 years. However, some might see this as spending less than 5 years at a few companies, displaying a pattern.
Job-hopping mainly applies to those who have chosen to leave, rather than those who have been let go, fired, or have left due to company issues. Changing jobs has become more prevalent since the pandemic in part due to businesses having to make individuals redundant from a lack of funds. You can usually find out if this was the case by asking your potential employee why they left their previous jobs or by looking at the company they worked at to see if it still exists. You can also look at when the employee left the business and if this coincides with the pandemic, or if the business seemed to reduce its employee total in the last year or so.
How to reduce employee turnover and retain employees
There are many strategies for staff retention. An increasing number of individuals no longer see their careers as just a job, but want to feel a sense of belonging or purpose and to feel like their job is fulfilling.
There has also been a huge increase in employees wanting to prioritise their mental health by having a healthy work/life balance. This means less overtime and more time spent on themselves in order to work more productively when in the office. Here are some other ideas that can help you retain employees. This trend is especially noticed among millennial and Gen-Z workers.
If your company can satisfy the needs of your employees, they are more likely to stay with you. These are five things employees today are looking for.
1. Opportunity to progress
It’s always good to have a professional development strategy in place that gives your employees an idea of the structure of the company, as well as how they can progress in their role. This helps retain employees as they can see a future with the business where they move up the career path, explore new roles, and increase pay.
2. Flexible working
Flexible working patterns, such as working from home, have increased over the last few years, and this has seen some employees preferring this way of working. Having a flexible work pattern, such as being able to start earlier or later can really keep your employees with you as it fits into their personal schedules.
You can send out the shift rota to your employees weeks in advance so that they may plan their lives accordingly or make any requests to change their hours. A workplace that is accomodating of peoples’ lives outside of work is highly attractive and sought after in today’s world.
3. Training and growth
Providing regular training sessions or workshops can be a great reason for someone to stay working at a company. Keeping your employees in the loop and expanding their skills not only works for them as they improve their skill set, but it also helps you have employees that are highly trained and knowledgeable in their profession.
Hosting training sessions or hiring someone to come in and do regular training will show your employees that you care about their progression and growth within the business.
4. Company culture
Company culture plays a huge role in reducing employee turnover rates. Having a team of people who are friendly and enjoyable to work with will keep everyone positive and motivated to come in and do well.
You can check in with team leaders and individuals to gauge what could be done better to improve the company culture such as organising socials, recognising progression and promoting those who deserve it.
5. Managing style
If your managing style is a bit less hands-on, it’s always best to try and be more personal by showing your employees the door is always open for discussion. This will help you realise if any issues could be improved, or if someone is considering job-hopping to progress you can try to resolve this. Try to recognise the signs of someone who is losing interest and take action.
Retention bonus examples
It’s always good to see if there are any employee benefits you can offer your staff, this will help keep them with the company for a longer period of time as not all businesses will offer these benefits. Some examples of bonuses you could offer include:
1. Private Healthcare
Private healthcare can cost an average of £125 a month. Offering this service to employees can save them a lot of money, and show you care for their physical and mental health.
2. Gym membership
Whether your company has a gym within the building or a gym nearby, it’s a great incentive to stay in a job if they offer a discount at local gyms. Promoting a healthy lifestyle can be motivating and increase productivity.
3. Monthly offers
You can sign up for a company such as Charlie HR that offers business discounts and work perks. This could be distributed in the form of a monthly newsletter that outlines all the offers for that month, and employees can choose from things like discounted cinema tickets to cheaper phone plans.
4. Employee of the month
Another great incentive to stay working with a company is employee recognition. Recognising talent and praising your staff in the form of an employee of the month can be a mental boost and show the rest of the company who’s doing well and succeeding. Optional prizes for employees of the month could be a cash reward or voucher.
Increase Employee Retention with Placed
Employee-employer relationships should always be a priority, with individual performance recognition and company culture being considered in depth to increase tenure.
Whether you are looking to hire long-term employees that you’d like to impress with the benefits and perks of working for your company, or you’re wanting to clean up your current process, then these tips can help with your practices.
Get in touch with Placed App to publish your new roles and hire valuable, loyal, and long-term staff.
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