For those of you reading my blogs you know that I am the product of a small family- owned business. My clients are often family business owners of small and medium sized firms. Thus, I am always eager to share articles and information to help them. And the area of employee retention takes the spotlight today.
According to the Bureau of Labor Statistics, the average worker may hold ten different jobs before age forty.
According to CNN.Money article: “The new normal: 4 job changes by the time you're 32”
by Heather Long @byHeatherLong April 12, 2016
Top employers accept that an interviewee on their resume will show a job change as often as every three years.
Forrester Research (www.forrester.com) predicts that today's youngest workers will hold twelve to fifteen jobs in their lifetime.
Training new employees is expensive and often more challenging for the small business owner. It takes time, and often TIME is something the small business owner lacks.
One idea coming from Invostepedia.com is information as to why employees are likely to leave a job. With such information, the small business owner can tailor their unique work environment toward retention.
It appears that, rather than big salaries, workers are now interested in keeping a good Work/Life Balance. When that balance between work time and family/leisure time gets seriously unbalanced, then the employee is more likely to leave their job.
The final word: Offer your employees a fair salary; provide reasonable opportunity for advancement; manage a decent benefits package; develop a healthy work environment without undue stress and with meaningful assignments; and a situation offering good work/life balance – and you just might be able to retain your best employees.
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