As the market rebounds, there are more open positions available, and many employees will begin looking at other opportunities. To create a more desirable workplace and decrease churn, employers will have to evolve and be aware of what is happening in a highly competitive hiring environment.
Requiring an entirely onsite work environment will pose a problem for employers. A study by Prudential showed that most American workers (68%) say that having a hybrid approach where they would have the ability to work remotely and onsite is ideal. Of workers who have been working remotely during the pandemic, 87% want to continue working remotely at least one day a week once the pandemic subsides. Additionally, a quarter of workers (26%) say they plan to look for a job with a different employer once the pandemic threat has decreased. This number of expected job searchers aligns with similar reports that churn is expected to increase heavily for companies in the coming months.
Employers should consider how they can modify their work environment to better embrace what employees are looking for, which may help decrease the number of employees who look for new jobs. In the same survey, aside from compensation, people who are planning to look for new employment rank more flexible work schedules, mobility opportunities and remote work options as the top ways that they could be encouraged to stay with their current employer. Flexible work schedules also were at the top of the list of what would incentivize all workers (not just those planning on starting a job search) to stay with their current employer.
Remote work has become a major deciding factor for employees. Nearly half of currently remote workers (42%) say if their current employer doesn’t continue to offer remote-work options long term, they will look for a job at a company that does. Employees feel that remote work helps them save time and money while improving their overall health and wellness.
If you want to further distinguish your company in the market, you can do more than just permit remote work. Your company can create a culture that embraces remote work. You can do this by adopting formal policies about flexible schedules, helping subsidize remote-work expenses and providing more resources for setting up a home office.
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