Retaining your top employees isn’t just about money. Making your staff members feel valued plays a critical role in their willingness to stay with the company.
There have been a series of dramatic shifts in work culture over the past 10 years. Traditional career paths are a thing of the past, with employees unlikely to stay in the same job for more than a few years.
Although the job satisfaction rate in the US is the highest it’s been since 2005, other factors that contribute to job satisfaction, including health and retirement benefits, haven’t changed. Pay plays a significant role, but it is not always the solution to retention problems. In fact, if a company is offering employees a large pay increase just to keep them, it can mean larger issues within the company. Problems within the work environment or a lack of training and development can lead to high turnover rates. Read more>