If you’re like some businesses over the last year, you might not know they’re struggling until it’s too late: United States employee voluntary turnover is expected to increase by 20% this year, according to a study from Gartner. People are job hopping for all sorts of reasons: better pay, improved benefits, opportunities for growth, or a different career altogether.
One way to help? Support employee well-being — mental, emotional, physical, and financial — through workplace benefits, and you guys can even play games from www.rivernilecasino.com together.
Support a work/life balance
A study by Gartner found that the past three years changed how employees feel about work and life: 58% have a different perspective about where they work, and 50% have different expectations of their employers. Translation? Work/life balance matters more than ever.
Depending on your company’s size and needs, that may enable you to lean into flexibility in where, how, and when employees work — less about counting hours in the office and more about work that needs to be done. You should let them enjoy their time with online pokies for real money when they can.
Support financial well-being
This type of offering — anything from information on basic budgeting to webinars about managing health care costs and tackling student loan debt — has positive effects beyond bigger savings accounts. One recent study, for example, found that nearly three-quarters of employees experiencing financial stress also experience physical symptoms. And if your employees don’t feel well, they can’t bring their best selves to work.
Support mental and emotional health
Employers with employee assistance programs (EAP) find they have lower absentee rates and health care costs, as well as more productive workplaces — which may help with burnout and stress for both employees and owners.
Both owners and employees often need updates on EAP existence, value, and access, says Kara Hoogensen, senior vice president of speciality benefits for Principal. Luckily, there’s a decreasing stigma around EAPs, especially among younger generations: It’s not an issue for millennials.
Support career growth
You don’t need a formal mentoring program with committees. A small business can easily connect employees with role models in the community who will serve as career mentors. Create your network of small business leaders, including women and those with diverse backgrounds.
Think of benefits and well-being as a loop: An employee with a medical crisis, for example, may then struggle to afford high healthcare costs, which in turn triggers mental stress. Conversely, an employee with physical, financial, and mental support may be able to improve their work performance. Find what works, review, and adapt.