When you think of threats to employee retention and engagement, ‘loneliness’ might not be the first word that comes to mind. But when an employee starts feeling detached from your organization, it can bleed into everything, from performance to their general outlook about your company.
According to a recent New York Times article, job resignations hit an all-time high in 2021 and the trend is not likely to stop. In a post-COVID-19 work climate, employees are demanding increased flexibility and empathy from their employers, whether it comes from their current job or not.
As an employer in the modern workplace, the message is clear: a strong employee retention program is the difference between either attracting quality talent or losing it.
Here are three powerful employee retention strategies you can employ in the next benefits program you implement.
One of the most important parts of an effective employee retention strategy is your work environment. While a competitive salary is a strong starting point, employees are starting to look for more from their jobs than just money.
ServiceNow’s report “The Employee Experience Imperative”, found that “employees today – regardless of their role or generation – want to be heard and valued and they want an employee experience that suits their needs throughout their career with an organization.”
This suggests that your employee retention program should emphasize individualized experiences, while making sure your workers feel their input is valued as well.
Consistency should be an important part of your program. A great way to ensure this is by keeping your program simple.
Given the overwhelming number of ways you can amplify your retention strategy, it’s best to focus on specific strategies that have a quantifiable impact.
Remember: the goal of your program isn’t to have the most creative strategy, but rather the most effective one.
Based on a 2020 LinkedIn report, 48% of employees feel their current benefits and compensation package need to be reworked.
While taking a “set it and forget it” approach with your employee retention program might be easy, it’s likely to fail unless you spread the word about it. Your HR department can help inform your workers about your revamped program and, most importantly, how it benefits them.
By incentivizing and promoting your revamped program, you immediately position yourself as a company where workers are valued. This both improves worker satisfaction and sends the right message to prospective employees.
With a survey showing around 50% of employees would weigh company perks, including the availability of snacks in their decision while looking for a new job, it’s clear that attracting and keeping top talent isn’t something you can leave to chance.
One program that combines all the foundational elements of a strong employee retention strategy is Ritual for Companies. Ritual for Companies is an office food perks program that allows employees to virtually pick their own company-funded meals while staying connected as a group.
It works like this: Once you’ve signed up, employees can use the Ritual for Companies on their phones to easily order individual meals for pickup (pickup times can be adjusted). Your company provides employees with Ritual credits that can be redeemed on orders immediately or at a later date.
In today’s job climate, workers are demanding more from their employers. With record numbers of job resignations in recent years, companies need to adapt to these new demands or risk losing their employees.
According to one survey, 67% of employees who had access to free food at work reported being “very happy” at their jobs. In other words, not implementing the right work benefits can leave your workers hungry for more, both literally and figuratively.
Ritual for Companies provides a simple solution by offering employees the chance to virtually pick their own company-funded meals while staying connected as a team.