Armanino Blog

Ways to Keep Employees From Jumping Ship in a Hot Job Market

October 09, 2018

The August unemployment rate was 3.9%, according to the Bureau of Labor Statistics, and job creation continues to thrive. There are more job openings than employers can find workers to fill them.

So if your employees hadn't previously been thinking of leaving their positions for another job, they might be now. Even if they are not looking for a change, with so many companies currently hiring, they may be approached about opportunities that lead them to think twice about staying put.

How can you prevent your best and brightest from jumping ship in this hot market? Of course, your employees want to be well compensated, offered good benefits, appreciated for their work and treated fairly. These are considered basic needs. In addition, staffing firm Robert Half International suggests trying to think of things from the employee's perspective.

Continuously evaluate your employees' state of happiness. For example, have regular check-ins to discuss successes and the challenges the person is facing. Give positive and constructive feedback and set realistic goals for the future.

Obviously, everyone is different and has different reasons for liking their job or considering a job change. But overall, one of the best ways to keep people is to have open and honest communication. Making an employee feel comfortable that they can come to you and discuss their ideas, questions and concerns can be the difference between someone staying or deciding to leave.

And, it's not enough to just listen. You also need to act, at least some of the time. It is nice to be heard, but if there is no action on the employer side to initiate some employee ideas or take steps to correct employee concerns, then lending an open ear will eventually not mean much.

This does not mean that you should do everything an employee suggests. However, if you think one or two ideas are good, try implementing them and see how it works out. It could make the difference between a valued person staying or leaving for greener pastures.

If you'd like more information about employee retention strategies, reach out to our HR Solutions team.

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