Why Employees Are Leaving
The “Turnover Tsunami” is no longer just a forecast. According to Achievers Workforce Institute, 52% of North American employees plan to look for a new job this year. Alarmingly, 47% will leave if hybrid work isn’t offered. These statistics highlight an urgent reality: companies that don’t evolve risk losing their talent.
Look in the Mirror: What Motivates You?
Before designing new employee retention strategies, start with a simple exercise: reflect on what keeps you engaged. Most people are energized when they feel valued, understand their goals, belong to a supportive team, and are trusted to make an impact. Work becomes more enjoyable when flexibility is paired with camaraderie. These same dynamics apply to your workforce.
How Engagement Has Shifted
The pandemic disrupted engagement patterns, but it also forced innovation. Leaders prioritized employee wellness and found creative ways to stay connected virtually. Now, the landscape has shifted again. Retention requires new strategies that blend flexibility with purpose. While virtual happy hours may fade, the underlying needs remain: recognition, growth, and human connection.
Practical Employee Retention Strategies
To build a culture that retains talent, consider the following actionable steps:
-
Give Positive Feedback: Recognition increases motivation. Make praise specific and frequent.
-
Encourage Innovation: Let employees explore ideas and take ownership of projects.
-
Respect and Value Everyone: Psychological safety fuels productivity and trust.
-
Offer Growth Opportunities: Support personal and professional development.
-
Build Trust: Transparent communication and consistent actions matter.
-
Provide Meaningful Challenges: Keep employees engaged with stretch assignments.
-
Promote Work-Life Balance: Encourage boundaries and offer flexibility.
-
Foster Connection: Whether remote or in-person, create moments of shared purpose.
-
Stay Competitive with Pay: Benchmark salaries regularly to avoid costly attrition.
-
Ensure Comfortable Environments: Support productivity at home and in the office.
These strategies aren’t just perks—they are necessities. The shared thread is belonging. Employees want to feel connected, seen, and supported in their current role.
If you’re not sure where to start making improvements on your retention/recruitment strategies, don’t worry. MorganHR offers just-in-time coaching to help with the compensation conversations and strategies for managers and HR professionals. Plus, Auxin Group promotes employee balance and development by offering bite-sized WELLNESS® and development opportunities at their fingertips with our app.
To retain and win talent during this unique time, leaders across the organization have to take part in retention and recruitment strategy development, and with MorganHR, we can come up with the best plans together.