Unfortunately here in the United States, job retention rates are quite low. In fact, nearly three million workers and employees of various natures had left their positions and places of employment by the time that the year of June of 2015 alone had drawn to an end, a number that has only become more problematic in the years that have passed since. Even back then, this number was already marking a 25% jump in the amount of workers leaving their jobs than just two years prior, in the year of 2013.
Much of it can be linked to the numbers of millennials that are now entering the workforce. These millennials are nearly always on the lookout for another, better job. In fact, up to 60% of them say that they would take a new job at any time, provided that it offered them better opportunities than their current job. Due to this fact, the millennial generation has even often been referred to as the “job hopping” generation, so to speak.
And as any HR executive search firm or job placement agency or outplacement company knows, there are many reasons that are likely behind these poor numbers of job retention seen all throughout the United States and across the board of a variety of different industries. For instance, many an HR executive search firm and the like have identified that many workers and employees of varying natures simply do not feel that they are being supported in their workplace. In fact, up to 80% say that their superiors do not encourage them and challenge them to produce their best work, leaving them to essentially fend for themselves in many ways.
In addition to this, a lack of diversity can also be hugely detrimental to any given place of work, something that the typical HR executive search firm has also seen quite frequently. A lack of diversity can make for a work space that does not introduce many new ideas, one that stays and continues to be stagnant for considerable periods of time. And when a little bit of diversity is introduced to such work spaces, the person in question can actually feel ostracized or othered in this space, simply because there is no one else like them there and everyone else is relatively the same, if not every much so.
Fortunately, there are a number of concrete ways that job retention can be improved in work spaces all throughout the country, as has been identified by many an HR executive search firm. An HR executive search firm and many other outplacement consulting firms have even been able to find a direct correlation between employee happiness and the implementation of employee recognition programs. In fact, up to 86% of all companies that institute such programs have found that their employees have become more engaged and more content in the work space, something that was not always present before the employee recognition program was brought into fruition.
In addition to this, diversity initiatives can actually be a good thing for any given workplace, providing it with a new pool of ideas and different ways of thinking. Not only does this make the typical work place a better place to work overall, but it will actually improve the performance of the workplace as well. Studies that have been conducted on this subject actually more than back this us, showing that diverse workplaces that diverse in terms of gender will outperform comparable workplaces that are not in any way diverse by as much as 15%, a considerable amount, to say the least.
And aside from gender diversity, ethnic diversity is even more influential when it comes to overall higher levels of workplace performance. In fact, workplaces that incorporate a high level of ethnic diversity are actually likely to outperform their less than diverse counterparts by as much a 35% when all is said and done, as has been noted by many a HR executive search firm.
Though there’s no doubt about it that job retention is a problem, there are a number of ways to combat it.