North America is currently facing a retention epidemic. Organizations are constantly searching for solutions to keep their best and brightest employees on board. In recent years, they’ve even gotten creative with free lunches, smoothie bars, and yoga rooms.
But the appeal of these workplace perks eventually wears off, leaving organizations back where they started—with major retention issues. So, what’s the key to making employees stay? Many employers believe the traditional method of increasing compensation will do the trick, but they’re still missing the mark.
Achievers—an employee engagement and recognition platform—created the infographic below to help organizations understand what will entice employees to stay for the long-haul.
Here’s what employees are saying:
- 74% of North American employees say they’ll be looking for a new job in 2018.
- Only 28% of all survey respondents ranked compensation as “very important” when it comes to retention.
- 76% of North American employees say a positive corporate culture impacts their decision to stay with a company.
- 36% of North American employees noted a lack of recognition as the number one reason they’re considering switching jobs.
To start tackling the retention epidemic, use daily pulse surveys to understand how employees feel about their workplace experience:
What tips do you have for employers dealing with a drop in employee retention? Let us know!