Navigating Employee Turnover: How the benefits you offer can help retain your people
Employee turnover is a challenge that many businesses face, and more so now, than over the last few years. Our study Inside Employee Minds has found that worryingly, two in five people are considering leaving their employer.
Replacing employees will cost you more in the current environment and you may struggle to hire people who are just as experienced. However, there are actions you can take now to deal with this challenge:
-
Evaluate your employee benefits package to consider how well it supports your employees now, post-pandemic and in a cost-of-living crisis. Does it offer something for everyone?
-
Address what actions you need to take. Do you need to have better promotion of your current solutions? Can a review of your options help free up budget to do more for your employees?
-
Communicate the benefits and support that you provide to employees. You can do this by ensuring you have strong signposting and communications so your employees understand everything you offer and how it can help them.
We strongly believe that if you look after your employees, they will look after your business. We offer a free no obligation benefits health check so that we can help you try to get the most from your benefit spend at a time when it is crucial to find the right culture that engages staff and makes them feel valued.
Contributor
Ian Green
- Commercial Growth Leader, Mercer
Related solutions
Related insights
Related Case Studies
Curated
Related products for purchase