A study by Retensa has shown that 8 out of 10 managers are completely unaware that their last departing employee was seeking another job. Additionally, 70% of employees respond to competitor's offers during work hours. The job market has changed significantly, not only since COVID-19 but also due to the new valuable perspective developed by Gen Z when looking for a job. The pace is moving rapidly, and companies that aren't adapting to change are losing employees quickly.
Here are some latest job factors that people are seeking:
1. Vacation time: Salary and benefits are significant considerations. Individuals generally look for competitive pay that matches their experience and role while also benefiting their personal lives. Some companies offer economic benefits for achieving objectives. Additionally, individuals often seek comprehensive benefit packages that include healthcare, retirement plans, technology devices, and vacation time.
Vacation time, in particular, is receiving increasing attention. Native digital individuals, who grew up with a lot of innovation and freedom, find traditional work styles off-putting. They believe that experiencing new places and forming new connections is the greatest gift in life. Therefore, offering only five weeks of vacation to someone aged 18 to 25 is no longer sufficient.
2. Work-life balance: Being a workaholic is no longer a trend. Achieving work-life balance is
increasingly important to many individuals. There are three main factors in this balance: remote opportunities, flexible work hours, and communication skills. Working from home has become the new normal, with 84% of people stating that they feel happier and 90% feeling more productive when working from home. Companies are expected to offer at least two days of remote work when requiring in-person presence. Flexibility in working hours provides employees with a sense of freedom and fosters a healthier relationship with the company. Open and honest communication with colleagues and superiors is crucial, allowing employees to voice their opinions and provide feedback for the company's development.
3. Positive work environment and company culture, including sustainable practices: In addition to remote work and flexible hours, a positive work environment plays a significant role. Companies where employees have fun, engage in conversations, make friends, and share meals have shown higher job satisfaction. Team-building activities contribute to a greater sense of happiness in the workplace. Today's generation also looks for a job that aligns with their values. Implementing sustainable practices not only benefits the environment but also makes employees feel better about their work. As mentioned before, "companies that demonstrate a commitment to sustainability are more likely to attract and retain top talent, as employees are increasingly drawn to organizations that prioritize environmental and social responsibility."
8 Steps to take action:
Providing New Benefits: Offering new benefits such as gym memberships, mindfulness training, access to counseling services, and providing snacks and juices at the office.
Aligning with Sustainable Practices: Implementing sustainable practices such as recycling, organizing a tree planting day, conducting sustainable workshops on biodiversity day, environmental day, and Earth day, and creating a plastic-free environment.
Celebrating Achievements: Celebrating achievements can be done through a simple email, team meals on Fridays, or organizing outdoor events.
Encouraging Team-Building Activities: Engaging in team sports or games, such as soccer, relay races, or tug-of-war, can create enjoyable and fun experiences that foster team cohesion.
Organizing Company Retreats: Planning an annual retreat of 1 to 3 days can be surprising and motivational for employees. Company retreats are known to enhance employee retention and motivation.
Providing Workshops: Offering workshops is crucial to encourage employees to keep learning, feel challenged, and prevent boredom at work. Workshops can inspire individuals to try new things and embrace new projects.
Birthday Free Day: Allowing employees to take a day off to spend time with family and friends on their birthday is an important factor in achieving work-life balance.
Creating Surprises: Surprises generate excitement and a sense of appreciation among employees. When employees are pleasantly surprised, it boosts their morale and contributes to a positive workplace atmosphere. It demonstrates that their contributions are valued and recognized.
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Team Betreat