A new generation of workers is here, increasing turnover rates and generating a monthly quit rate of 3.6 million in May alone. Millions of Americans are finding new opportunities as the job market is heavily recruiting following post-pandemic struggles. Competitive pay, the booming job market, and shifts in employee benefit priorities have HR teams struggling to retain young workers as they seek the next best opportunity. Creating an engaging and authentic workplace is crucial to appeal to the new generation and retain long-lasting employees. Discover how better HR decision-making can help you hold onto your talent.
According to research conducted by Future Workplace, younger professionals value flexible work hours even more than salary. Work-life balance was recorded as the number one factor for millennials when considering a new position. If you want to remain competitive, especially among the next generation of employees, you should offer flexible work options. Adjusting your benefits package as such can promote loyalty, boost productivity, and leave your employees willing to work longer hours.
Simply put, employees want to work for a company whose mission, vision, and values are similar to their own. Not only does your company need to maintain clearly identified values, but every employee must understand their role in supporting the mission to achieve the collective results. Enhancing your company culture requires communication, collaboration, recognition, and healthy competition. Encourage your team to weigh in on your mission. Deploy regular, disciplined communication and listen to you can easily share the vision across the workforce while soliciting feedback and ideas.
Your workers want to see how their everyday tasks drive growth and understand the value they bring to the company. Providing your team with a growth model allows them to gain visibility into the organizational roadmap and better understand company goals. In your regular updates to team members, highlight the firm’s progress toward key objectives. The pandemic only further solidified the importance of sharing a company roadmap with employees. A comprehensive plan of action allows employees to take action and get your team back on track when roadblocks arise.
Onboarding marks the very beginning of your employees’ journey. It is their first impression of your company as a whole, and when executed effectively, onboarding can sustain employee engagement, reduce employee ramp-up time, and increase retention. RJ Reliance’s Virtual Practitioner solution can automate all the repetitive, time-consuming tasks involved in onboarding so you can focus on the social and cultural aspects of your employee experience. By unifying onboarding experiences across connected businesses, our experts allow you to effectively support employees from the moment they are hired and achieve your business outcomes faster. RJ Reliance’s experts are ready to assess your current onboarding process to identify and implement the most efficient strategy tailored to your needs.