Why January Sets a Record for Employees Quitting
According to data from LinkedIn, January is the most popular month for workers to make a job change. The data indicates that in January 2018, there were about 75% more job changes than any other month. The holidays tend to be less popular for job changes because people are more focused on their families and upcoming events. Employees are also anticipating the holiday bonuses they’ve worked for all year. However, when the holiday season comes to an end, we see far more activity. Employers kick hiring into high gear, creating more opportunities for job seekers, and employees can focus on their job search without the distractions of the holiday season. New Year’s resolutions can also come into play. A 2019 Inc survey reports 16% of respondents resolve to find a new job in the new year.
With this big shift looming, it’s essential to focus on what keeps employees under your roof. Employee satisfaction is important when it comes to reducing turnover and keeping your business running smoothly. Read our tips below on how to improve employee job satisfaction in order to prevent your best people from looking for a new job in January.
Open Up Communication
Communication is extremely important when it comes to managing employee satisfaction. It’s always best to be transparent and forthright about the status of the company and plans for the future. According to our 2019 local candidate survey, only 54% of employees believe their job is secure. When employees are worried about their job they are less engaged, and more likely to be searching for a new job. In 2019, there were more than 12,700 mergers and acquisitions in the United States. As this becomes a common concern among employees, rumors can spread about job stability. It’s important to address rumors right away. Having frequent communication and meetings can help to dispel these worries among employees and also give employees the opportunity to bring forward any concerns they might have. This communication can keep employees from seeking out a new job for fear of instability.
A report from TinyPulse (a leader in employee-engagement pulse surveys) indicates that that a lack of recognition is a top contributor to employee dissatisfaction. Overall, only 12.4% of employees feel recognized for the work they do. This time of year provides many opportunities to recognize good employees for good work. An annual year-end performance review can help employees feel recognized for their successes and supported through their mistakes. Company-wide holiday events as well as awarding bonuses to top employees can help improve morale and make employees feel appreciated. This can help keep employees from leaving when the new year rolls around.
Hire Good Managers
The number one reason employees leave their jobs is because of poor management. According to the report, employees who rate their supervisor’s performance poorly are 4x as likely to be job hunting than average. Managers have an enormous impact on employee satisfaction and it’s extremely important to hire the right people for the job. Bad managers include managers who are negative, show favoritism, overwork their team, ignore good work, or break promises. Bad management reflects upon employee engagement, morale, and job performance, and it could drive away your best employees. Consider promoting from within to replace and ineffective manager.
Employees who rate their work-life balance poorly are 90% more likely to leave their company. According to our 2019 local candidate survey, employees rank work-life balance to be the second biggest job satisfaction contributor, and a flexible schedule or work-from-home opportunities were ranked as a top most valuable job benefit. Employees require flexibility to meet the needs of their personal life and family, and a healthy balance can help to avoid burnout and increase engagement. As an employer, it’s important to emphasize work-life balance and flexibility in order to keep employees satisfied. A healthy balance can keep your best employees from looking for other opportunities this January.
As the new year approaches it’s important to keep employee satisfaction in mind. Because January is such a popular month for employees to resign, employers must prepare. By taking steps to improve employee satisfaction, you can help to keep your best employees under your roof.
Bradley Staffing Group is a full-service staffing firm based in Wayne, PA. We are committed to matching A-level talent with best-in-class businesses. Our knowledgeable and well-trained staff brings a combined 70+ years of staffing experience to our clients and candidates alike. http://bradleystaffinggroup.com/contact-us/