A new report from Glassdoor finds that more than one-third of people in charge of hiring, 35%, predict that more workers will resign this year.
The top reason, according to these folks?
You guessed it: Cash is king.
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Glassdoor finds that 45% of hiring decision makers believe salary is the main reason why workers jump ship for new positions. But Glassdoor also reported that while 48% say salary and compensation hold the most weight when it comes to choosing a job, less than one in 10 job postings online feature information about salary.
Here’s how employers can improve workers’ experiences on the job.
Tips for getting employees to stay
Here’s what employers can do.
Be transparent from the beginning
Glassdoor found that 98% of people working and looking for jobs reported that “it would be helpful” having salary ranges included in open job listings.
Carmel Galvin, Chief Human Resources Officer at Glassdoor, commented on the research in a statement: “Pay can be a big motivator for employees to take a job, however, very few job listings actually include pay information, even if this is overwhelmingly what job seekers want. If candidates were better informed about how their pay and career could progress during the initial job search and recruiting process, they would be less likely to take a job that turns out to be a bad fit.”
Give employees the tools they need to excel
This could just make things easier for both parties.
“In any position and industry, professionals want the possibility for advancement. Smart managers invest in their workers’ professional development and seek opportunities for them to grow. Ask each of your direct reports about their short- and long-term goals to determine how you can help achieve them. Some companies pay for employees to attend conferences or industry events each year, or provide tuition reimbursement or continuing education training,” it says.
Talk to veteran talent
Employees want support that also improves their lives outside of work.
An online “‘how-to’ guide” on workers’ retention from The Wall Street Journal says that employers should “conduct ‘stay’ interviews.”
“In addition to performing exit interviews to learn why employees are leaving, consider asking longer-tenured employees why they stay. Ask questions such as: Why did you come to work here? Why have you stayed? What would make you leave? And what are your nonnegotiable issues? What about your managers? What would you change or improve? Then use that information to strengthen your employee-retention strategies,” it says.