Salary is no longer the main factor employees use to determine how long they remain with an employer. In many cases, flexibility determines an employee’s longevity with a company.
According to a 2021 Gallup poll, 44% of employees prefer working remotely over hybrid or entirely onsite. Also, the 2021 Inc. Best Workplaces results show that a remote work stipend, paid parental leave beyond 8 weeks, unlimited paid time off, and paid time off for community service were among the most in-demand benefits and perks.
Because of the growing demand for work-life balance, flexibility plays an important role in where employees decide to work and how long they stay. As a result, your company must provide flexibility to increase employee attraction and retention.
The stronger your employee retention rates, the less time and money spent on hiring, onboarding, and training. This helps strengthen your bottom line.
Find out how giving employees more flexibility can increase retention.
Support for Work-Life Balance
Quantum Workplace’s 2021 Employee Turnover Trends shows that employees who have sufficient flexibility are four times more likely to remain with their employers long-term than employees who lack sufficient flexibility. These results emphasize the importance of employer support for work-life balance.
Employees must be able to fill their personal and professional needs throughout the day. This promotes engagement, productivity, and performance. The better able your employees are to fit in work around their personal responsibilities, the more likely they will remain loyal to your organization.
Greater Employee Engagement
Quantum Workplace’s 2021 The State of Remote Work showed that 78% of remote employees reported being highly engaged in their work. Engaged employees typically feel high job satisfaction and remain with their companies long-term. This helps increase employee retention rates.
Stronger Employee Referrals
Satisfied employees tend to refer family and friends to job openings within their company. The referrals who get hired tend to remain long-term because they know someone within the organization. This elevates employee retention.
Engaged employees often serve as brand ambassadors. Many share their company’s job openings on social media. The members of employee networks are likely to apply for the openings. Hiring employee connections encourages them to remain loyal to the organization. As a result, retention rates are improved.
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