With 23% of UK employees planning to jump ship on their current employment this year, the country is now second globally for employee attrition risk.
This data comes from a study by Qualtrics, which pulls together findings from over 13,000 employees across 12 countries. According to the report, the top sectors at risk of loss of employees are retail, followed by healthcare, telecoms and travel. The most comfortable employees are in the tech industry.
Earlier this year, Investors in People also found that a quarter of people are unhappy in their role, and 77% are stressed at work.
In an age of instant gratification, the risk of empoyee turnover is bigger than ever before. Employees no longer feel the need to remain in a position that does not reward them in multiple ways, including financially and emotionally. Sadly, employees are feeling undervalued at work, with a simple 'thank you' named as something that would encourage them to stay.
If businesses want to reduce the risk of high turnover and the loss of talent they need to focus on their overall employee experience.
Here are five questions for employers to consider the current state of their workplace:
- How do your employees know they are valued? According to RealBusiness UK, 79% of people quit their jobs due to 'lack of appreciation'. A great place to start is by implementing a monthly reward scheme to ensure your team are recognised for their contribution to the business.
- Are your employees in a safe and welcoming environment? Can they bring their whole self to work? Consider what your diversity and inclusion experience looks like, and make sure that employees are always comfortable in their own skin. After all, diverse workforces are proven to have a competitive advantage over businesses lacking in this department.
- Do you trust your employees? Look at whether you are encouraging flexible working. Are you clock-watching when they leave early, but fine when they stay late? Are you happy for them to work from home, or do they need to show their face every day? According to a 2019 study by Know Your Money, just over 70% of UK employees consider flexible working very important to their overall job satisfaction.
- What is your employee wellbeing scheme like? Do you have benefits available to them addressing their physical and mental health? Healthy snack boxes, health insurance, and gym memberships are all great ways to show your team you consider their wellbeing a genuine interest, and in turn, can help the business achieve greater productivity.
- What is your management team like? With 68% of people surveyed by Citation leaving a role due to bad management, it's crucial that workplace happiness comes from the top. A good manager needs to encourage open communication, extend a level of trust, and ensure employees aren't suffering from presenteeism and high stress levels. Consider sending your management team on a positive leadership training course if it looks like this could cause issues down the line.
If you're not sure how you're employees are feeling, you can always run an anonymous office survey online. This can be a great 'health check', allowing you to assess where the holes are in the organisation.
With wellbeing at the forefront of the Healthy Nibbles' values, we are always working to improve culture and productivity through our healthy snack boxes, healthy vending machines, and curated services. Want to see how our healthy office solutions can make a difference for your workplace? Contact us today.