Adviser Fall 2018 Vol 1 - Page 44

Feature Win the Job Hop by Staying Balanced A s scarcity in the talent market persists, employees aren’t hesitating to take the opportunity to jump ship. Job-switching no longer retains the same stigma it has had in the past, and the practice is becoming more commonplace as offers improve and we continue to transition to the gig-based economy. This willingness to job-hop creates a challenge for employers – and an opportunity for recruiters. Though employees are more likely to take the leap these days, it doesn’t mean they are going through a big job transition for no reason. People leave because they are dissatisfied, and they take offers because they see greener pastures ahead. What aspect of the job ultimately pushes them to make the change, though? Studies show that work-life balance is a major contributor in employee decisions to stay or go. Why is work-life balance so important? According to one study, work-life balance issues account for 28 percent of employee departures; however, the statistics may be even higher. Flexible work schedules and the ability to work remotely are huge contributors to maintaining a successful work-life balance, and a Yoh survey confirms their importance in retaining employees. The study returned a result of 42 percent of employees saying they would leave their current job for a more flexible work environment. Studies show that work-life balance is a major contributor in employee decisions to stay or go. This is startling when you consider that nearly a quarter of workers claim their jobs interfere with their relationships with their children and significant other. That is a sizable chunk of the workforce that is at risk for departure (or that could be free for the taking). Not the benefits you want, but the benefits you need As the hiring game gets more competitive, expectations are growing for employers to provide flexible scheduling and other benefits that promote work-life balance. Even the retail industry is increasing benefits due to its problems with retention; Walmart, Lowe’s and Starbucks are all offering paid parental leave to even their hourly employees. When vying for talent using work-life balance, be sure to showcase your truly valuable benefits. Don’t make the mistake of throwing in Providing benefits such as flexible work hours, every trendy office perk you can offer. 73 percent of parental leave and remote work options are employees say they would vital to retaining and attracting employees. not leave their job for on-site gyms, daycare services, game rooms or other office-lifestyle enhancing perks. Providing benefits such as flexible work hours, parental leave and remote work options are vital to retaining and attracting employees. This is especially true as workers progress in their lives and careers, becoming more valuable to your company and more established in their personal relationships. Providing long-term benefits, such as career paths that don’t require relocation, is a way to attract and retain talent for the future. (See Win the Job Hop on page 44) 43 Adviser a publication of LeadingAge New York | Fall 2018