A whopping 88% of employee attrition is attributed to non-financial issues, according to the International Association of Administrative Professionals. To balance retention goals and savings demands, consider offering a low-cost benefit to mitigate efficiency-itis (a.k.a. “burnout”) and create a more attractive workplace.
No Train, No Gain
The chance to participate in long-term, ongoing vocational training is an opportunity wise employees don’t pass up. High-level programs create upward mobility, give employees control over their professional development, and can even uncover in-house talent. Do you have an HTML wizard or an Excel genius on staff? Consider hosting on-site peer training sessions or offer remote learning opportunities.
Health, Wellness, Relaxation
From meditation rooms to Ping-Pong tables, it’s the environment, not the paycheck, that makes startups desirable places to work. Dedicated relaxation and exercise areas are a huge bonus for employees that also offer healthcare-related savings. Consider communal seating and workspaces, cost-saving natural light and ventilation, and other modern design options that create a dynamic workplace.
On Board With Retirement
More than 55% of respondents to a Charles Schwab survey said they wanted employer guidance on their 401(k). Offer in-person, individualized planning sessions — which is the preferred method for employees — rather than online forms or printed booklets.
Give 'Em A Break
Counter the temptation to call in for phony sick by bundling vacation and illness absences into one paid-time-off system. Be warned, this option also tempts employees to work when they are sick, so grab that Purell. Sabbaticals, or time to train in a new position or industry, can increase retention and job satisfaction and make the employee more valuable in the long-run. For a less costly alternative, offer short-term job swaps within the organization to achieve a similar effect with minimal HR disruption.