When you look at employee retention rates seen all throughout the United States, it will become clear that something is going awry. After all, employee retention rates have been quite poor over the past couple years, something that has been hugely reflected by the data gathered on the subject. According to data that was gathered back in the June of 2015, more than two and a half workers left their positions (and voluntarily, for that matter) all within the course of that month. In comparison with the June of the year prior, the June of 2014, this marked a more than 25% decrease in overall employee retention rates. And in the years that have followed since, this trend has only continued on.
It is a trend that is particularly prominent among millennials in this country. After all, many people are even referring to millennials as “the job hopping generation.” And it’s not for no reason that this is the case. After all, more than half of all Millennial employees, around 60% of them, have stated that they would be willing to leave their current job for one that could offer them better benefits or even a better salary or any number of features that their current job just does not have. As HR consultants working for any given startup HR company can likely attest to all too well, this can be traced back to a number of issues embedded in the workforce of the United States.
For one thing, while diversity in the workplace is most certainly increasing, it is still not where it needs to be, something that many a startup HR company is working to fight against. For instance, there were only women heading 27 of the major firms, as of the first quarter of 2017, which means that only 5% of all CEOs working for various Fortune 500 companies are women – and still, when this happened, it was an all time high. This just goes to show that the world has a great way to still go when it comes to diversity.
But taking measures to implement diversity at your place of work can very much better it, as any startup HR service can attest to and as any human resources recruiter will know from experience. After all, the data that has been gathered on this subject is very much in favor of this, showing that incorporating higher levels of gender diversity alone can bump up performance by as much as a full 15% (at least in comparison to companies that have not taken steps to incorporate any meaningful gender diversity). And the power of ethnic diversity is even stronger, bumping up work performance for any given workplace by as much as a truly astonishing 35%. Therefore, incorporating diversity in the workplace is something that any given startup HR is quite likely to recommend.
Of course, simply making sure employees are heard is also hugely important – and something that does not happen in up to 80% of all work spaces. As a matter of fact, only around one fifth of all employees found throughout the United States actually feel that they are adequately motivated to do their best work and feel that those superior to them are actually doing so. Fortunately, again, there is a fix that comes recommended by many a startup HR company.
In many cases, a startup HR company will recommend the implementation of employee recognition programs. After all, the success rates of such employee recognition programs are quite immensely high indeed. According to current data, more than 85% of all companies and organizations that have put such programs into place have seen a rise in employee happiness. And when employee happiness is on the rise, so to will be the quality of the work that these employees are able to produce.
Ultimately, issues of employee retention are not always easy to solve. After all, there are many aspects to poor employee retention rates and taking a holistic view in solving them fully is very often necessary. However, even the smallest of changes can often have a positive impact on such matters, making such measures certainly more than worth pursuing at the end of the day.