Review your employee benefits offering or risk a mass exodus

Retain EmployeesAs the dark financial cloud begins to disperse (albeit extremely slowly), many employers are becoming increasingly aware that they could face a mass exodus of employees come the end of the recession.

Those employers who adamantly continue to believe that their employees ‘should be lucky to have a job’ should take a more considered approach to staff retention as their employees’ confidence in the job market begins to grow. By providing effective employee benefits and recognition tools, employers will stand in good stead against the competition post recession, as employees seek out new roles that offer more than just a better base salary.

 

Recent studies support the need for employers to address employee benefits and recognition in 2013.

A survey by Glass Door revealed that 1 in 3 employees plan to look for a new job in 2013 and 1 in 5 admit that they are going to start looking within the next 3 months. A separate study by Indeed showed similar findings, with 38% of respondents making finding a new job their New Year’s resolution in 2013.

The impact of effective employee benefits

Taking the time to invest in effective employee benefits that fulfil your workforces’ need to make savings on everyday expenses and improve their lifestyle can have a dramatic impact on staff loyalty and engagement. 65% of employees reported a positive change in their organisation towards work perks by being awarded the opportunity to work from home, casual dress, flexible hours and staff discounts.*

*Cindy Perman – CNBC ‘2013 may be the year employers say I quit’ 

Don’t forget to recognise achievement

Leading business and management author Dale Carnegie also supports the need for employers to recognise staff achievements so that they feel valued. Carnegie believes that communication is a vital element in enabling your staff to understand your company’s mission and goals; so that they feel they are part of the overall business objective.

Take a look at Dale Carnegie’s video on staff communication and employee benefits for ideas as to how to keep your organisation one step ahead of the competition:

 

John Sylvester

John is responsible for the motivation division of p&mm ltd and a Director on the board of the IPM. Specialising in developing, implementing and directing many large scale staff motivation, recognition and employee communications programmes.

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