Resignations Are On The Rise

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All we’ve heard about for the past few years is how lackluster the U.S. job market is, which is why this fact might surprise you: The number of Americans voluntarily leaving their jobs is on the rise!

The U.S. Bureau of Labor Statistics reported that the MONTHLY average number of workers to leave their jobs in 2013 was more than 2.2 million – more than 25 million for the entire year! In 2009, the monthly average was 1.9 million. Resignations on the rise indicate a few things that employers need to be aware of:

  • Employers have strengthened their recruitment techniques and are luring employees away from their current employers.
  • Many employed individuals no longer feel “stuck” where they are, and can quit with the confidence of finding another position elsewhere.

In order to retain your top-performing employees, you have to be an employer of choice. Employers of choice follow an all-encompassing recipe of future opportunity, commitment to a strong corporate culture, competitive salaries, employee recognition, cohesive teams, community involvement, work/home balance, job security, and great benefits.

Additionally, you have to promote a working environment where honest communication is encouraged. Having performance reviews and employee/manager meetings scheduled throughout the entire year can provide your top-performing employees with a platform for conveying their concerns. If you know of problems before they arise, you can work toward fixing them. If the employees’ frustrations remain a secret, there is no possible resolution and your employees will eventually leave.

If you currently work with a PEO, ask them about what practices they have in place to help you better retain employees, and don’t be afraid to share your workplace concerns. Historically, small businesses have always had a hard time competing with the rich benefit programs and growth opportunities found at Fortune 500 companies – but with the help of a PEO you can easily (and creatively) become an employer of choice.

Want to learn more about PEOs and retaining top performing employees? Contact our team at Employer Solutions Plus.