Business Trends
A recent survey of over 3,800 across the U.K, U.S., and Australia found that 61% of employees say the stress resulting from cost-of-living increases is negatively impacting their work. Half of all respondents also reported their mental health has deteriorated since the start of the pandemic and only 38% feel their mental health concerns have been adequately addressed by their manager.
As employee expectations change, employers are beginning to prioritize improving employee experience by focusing on engagement, retention, and workplace wellbeing. Here are some strategies that can help employers retain their workers:
- Provide desirable benefits
- Communicate openly and often
- Outline opportunities for growth and development
- Provide recognition where it’s due
- Offer flexibility in how employees work
- Create a culture of employee listening
- Administer two-way feedback
Why This Matters
Without increased investment in employee reward and recognition, mental, physical, and financial well-being resources, 40% said they would quit their jobs. As 84% of hiring managers said they are experiencing burnout due to the tight job market, employers need to shift their focus to ensure they are able to best support their team and help retain their talent during a unique time in history.
Next Step
Read the full article by HR Reporter to learn more about how HR Directors are prioritizing employee experience to support employees’ willingness to stay with a company.