2020 and the first few months of 2021 have seen mankind go through unprecedented times. We faced a common enemy in the shape of the COVID-19, as the global economy came to a standstill in the face of lockdowns and other measures to curb the impact of the virus. This pandemic has had a lasting impact on the global workforce, with many organizations shutting doors and closing their operations.

With the pandemic behind us and vaccination measures gaining pace, employers are trying to hang out to their workforce through effective retention measures. Almost 3 million Americans are currently looking to quit their job in favor of better opportunities. This kind of high turnover is extremely expensive for organizations. By some estimates, it will cost employers almost double an employee’s salary to replace them. Add to this the downtime of lost sales and lack of productivity, and you will understand just why organizations are eagerly searching for retention strategies.

In this article, we take a look at some of the most effective employee retention strategies you can implement in the world post COVID-19. Have a look at these strategies and take the right steps.

Offer Competitive Salary and Benefits

According to a survey by Glassdoor, 45 percent of all employees who left their jobs recently listed salary as the primary factor. That was followed by a lack of development opportunities, poor location and the search for better benefits.

While employees may think it is all about money, other factors related to salary also influence this decision. For instance, employees may change jobs if they are getting better benefits elsewhere.

Reduce Pain Points

You cannot seriously expect your employees to perform the same way as robots. If you want to retain your top talent, you have to take some time out and see some of the pain points troubling employees. Find out what concerns them the most and try to minimize that. For instance, if your employees feel their work-life balance is out of whack, take steps to minimize the overlap between work responsibilities and personal life.

Work with Managers

Employees leave managers, not workplaces. Ever asked a disgruntled employee what they hate most about their job? Chances are pretty good that most of them will point their fingers at their managers. If you have multiple departments and multiple managers in your firm, make sure you work with managers to minimize employee dissatisfaction. Try to maintain decent synergy between managers and employees for better loyalty from employees.

We at JS Benefits Group are working with organizations to mitigate the chances of high turnover after the COVID-19 pandemic. You can get in touch with JS Benefits Group to discuss and devise a strategy.