Preventing Worker Turnover After COVID

 Almost every industry was impacted by COVID-19 in some form of fashion. From construction to fast food, all experienced a form of worker shortage; whether that be from people being unable to work or workers opting not to.

How can an organization successfully retain talent while making the company and the employees equally satisfied?

Reni Snider of PEO Compass takes a deeper look at potential areas where employers can do more for their employees.

What does the current job market look like?

• As federal unemployment has ended, people are slowly returning to work.
• As people return, they are hesitant to go back to the “status quo” of jobs pre-pandemic. Most are opting for new employers.
• Experts say a “turnover tsunami” will take place in the second half of 2021 as all of the turnovers that would normally happen over a year will take place over a matter of months.

What do employees want after COVID?

• They want to be heard.
• Employees want the option to work remotely.
• More resources are dedicated to mental health and emotional well-being.

How to handle remote or hybrid workers.

• Workers who were forced to do so remotely are now reluctant to head back to in-person settings because of the autonomy and freedom of working from home.
• According to an Envoy survey, 47% of employees would leave their current role if forced back into an office setting.
• Also, 41% say that they would consider taking a pay cut if a new employer offered remote opportunities.

More money?

• Who does not want more money? This has always been true, but with the pandemic, workers are wanting more compensation for financial stability.
• Many want more compensation due to the fact they stuck it out over the pandemic and still worked in high-risk jobs such as fast food or retail.
• According to an Achievers Workforce Institute report, 35% of employees surveyed said they would leave their position for one that offers more pay or benefits.  

Final considerations for employers. 

• Provide hybrid or remote work models when possible.
• Emphasize programs that assist with mental health and employee burnout.
• Entertain the possibility of increasing compensation or bonuses.
• Let employees have a voice in the organization.

Now, implanting these strategies will not fully prevent turnover, but it shows employees your organization cares about their wellbeing and happiness.

For more information, read the original article from Reni Snider of PEO Compass. 

Photo by Chris Montgomery on Unsplash