One of the biggest problems facing business today is employee retention, especially among the so-called “Millennial generation.” This new group of up-and-comers doesn’t just settle for any job, and if they feel overworked or under-appreciated, they simply leave.
Some employers think that offering free food will tip the scales in their favor, but they’re missing the mark. According to a new blog, there is more that can be done, and at a cheaper cost.
Sean Goines is Online Marketing Manager at Master Agent Telarus (News - Alert), a company offering real-time quotes on transactional products, personalized support from industry experts on complex solutions, direct contracts with all carrier partners, and more. Goines looked at the bigger picture and offers some insights into what it takes to keep employees motivated.
“Countless studies exist on the qualitative and quantitative metrics of workforce output. Among Millennials, it is becoming common knowledge that job-churn is on the rise across the board due, in part, to perceptions of feeling undervalued and overworked,” Goines wrote. “For business executives, this translates into more resources spent training new recruits more often than they would like.”
Yet Goines notes that both Amazon and Google (News - Alert) spend millions every year feeding their workers, but they haven’t stopped the staff hemorrhage. There is a better way. “Amazing health and dental benefits, on-site daycares, company fitness centers, and private concierge services are topping the charts of most desirable work benefits,” he said, but recognized such perks are not realistic for smaller-budget companies.
Looking inward, Goines cites his own company for taking the initiative to keeping staffers happy.
“While Telarus provides free snacks, drinks, and biweekly food catering, the most rewarding unorthodox benefit is the activities,” he observed. “In the past four months alone, all Telarus employees have been given opportunities to remove themselves from the workplace and interact in fun and different social settings including a local aquarium exploration, roller rink, inflatable indoor park, outdoor barbeque, park bingo, scavenger hunts, modified speed-dating and a kickball tournament.”
In short, while food is good, interaction is better. Making someone feel that they’re a part of something bigger can go a long way toward keeping them around. A few bucks spent now can pay huge dividends in not having to hire again later.
Edited by Kyle Piscioniere