How Can Companies Improve Employee Retention? By Isidro “Izzy” Galicia
“Few would be surprised to hear that poor pay is cited as the top reason for leaving a job...”
Regardless of their role, seniority or experience, employees will inevitably leave the companies they work for. It is a reality in the business world that can’t be ignored, but one that no company wants to see happen. Aer all, losing an employee means lost time, lost money and lost potential. To limit the impact of workers leaving their jobs, businesses must take steps to develop effective retention strategies that focus on identifying and addressing the factors that can trigger a worker’s departure. In some cases, the reasons that prompt a departure will be beyond a company’s control. More oen, howev- er, employees leave because they have
Isidro “Izzy” Galicia
will have less motivation to stay loyal to that company. Long hours and high performance demands tied for the sec- ond spot on the list, each being men- tioned as a concern by 20% of workers, while the fourth reason — cited by 13% of blue-collar workers — was a lack of opportunities for advancement. When asked about job satisfaction, blue-collar workers pointed to healthy compensation, which they described as
“a good living wage,” as a top factor. Few would be surprised to hear that poor pay is cited as the top reason for leaving a job, regardless of workers’ specific roles or industries. The poll also showed that 37% of workers are satisfied with their jobs because they are being challenged, and for 33%, job satisfaction stems from having a sense of purpose at work. Companies that wish to improve their employee retention rates should take
concerns that are not being addressed or needs that are not being met. A recent poll reveals a number of con- cerns that blue-collar workers have about their jobs. At the top of the list is personal safety, cited by 28% of work- ers. If workers do not feel that their company has taken steps to address dangerous working conditions, they
20 | ArborTIMES Summer 2023
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