According to the Bureau of Labor Statistics, that’s the average time an employee stays with a company. It shouldn’t be surprising that the number has been falling for years. What it means to your company depends on the value you bring to your clients. If it comes from very specific skills and you can’t really just plug and play talent into spots, then you need to keep your people as long as you can.
On the other hand, if your learning curve isn’t quite as steep, there are other considerations like satisfaction. In all cases, you want to keep your employees happy, as happy employees work harder. Studies have shown happy workers are 12% more productive and take less sick days than employees who are unhappy or disengaged.
Happy Employees Stick Around
Friendly with Benefits.
Most small business owners feel that offering insurance to their employees is impossible, but options like premium reimbursement arrangements can help you stay competitive.
Try a Mix.
Recognition programs, flex time, and social media shout-outs can have a large impact.
Consider Telecommuting. Employees typically report higher happiness levels when they are able to work from home. They get to skip the commute and you save on rent. It’s a win-win!
Perform Exit Interviews.
It is important for you to understand why your employees are jumping ship. Encourage them to be honest and to write their thoughts down. This will help you find patterns over time.
The most important thing is to come up with some sort of strategy. Don’t avoid the issue because it seems too difficult. Every effort counts when it comes to how your employees perceive what you’re doing to show you appreciate them. Competition for talent is going to heat up, and it’s going to get intense, especially in tech. You have the data, now it’s time to strategize and deploy.
NextGen is the brainchild of longtime telecom professionals with nearly 50 years of experience and millions of dollars in Telecom Recruiting Services. We focus on establishing long term relationships with our clients and candidates so we can recruit the best and the brightest in the telecom industry. This ‘quality over quantity’ approach is at the heart of everything we do and has resulted in successful job placements at Fortune 1000 firms worldwide.