糖心Vlog

A whopping were believed to have left their jobs in 2021. This level of employee turnover comes at a great cost to employers. We break down why employees are leaving, what it costs businesses, and some Great Resignation solutions you can implement.听

Why are employees leaving?听

Employee benefits are not a one-size-fits-all solution. Answering a question like, 鈥淲hy are employees leaving?鈥� also doesn鈥檛 produce a one-size-fits-all set of responses. It鈥檚 dependent on the industry, employer size, and so much more. However, pay and benefits are pretty common themes.听

who were considering leaving their jobs. Their top reasons why they were considering leaving their jobs were:

1. Current salary/hourly pay听
2. Employee benefits offered aren鈥檛 the right fit听
3. COVID safety concerns听
4. More flexible work schedule听

What is the cost to you?

Cost of being short-staffed听

• Depression is estimated to cause .
• Working more than 55 hours per week can .听
• Employee burnout can lead to.

Cost in productivity/profitability听

:

• Higher absenteeism听
• Less productivity
• Less profits听

Cost of replacing employees听

One study found that it costs to replace them. That means it costs you:听

• $15,000 to replace an employee making $45,000 per year听
• $25,000 to replace an employee making $75,000 per year听
• $40,000 to replace an employee making $120,000 per year听

The projected cost of employee turnover to U.S. businesses !

What can you do to support employees?听

Employers can make the Great Resignation a great opportunity to bring in even more talent and retain the talent they have when they:听

• Offer a lifestyle spending account
• Enhance mental health offerings
• Provide flexible work arrangements
• Get creative with financial support
• Provide and promote telemedicine

Want to learn more about these solutions? 听

The information in this blog post is for educational purposes only. It is not legal or tax advice. For legal or tax advice, you should consult your own counsel.