With the New Year upon us, it is time for Brits to pledge their life away.
Whether it's participating in ‘Dry January’, taking part in ‘Veganuary’ February (at least in the presence of your committed pals) or a simple oath to step up your fitness, we all coerce ourselves to make a substantial lifestyle change. Even if we can’t resist the temptation to reverse it a few days later.
But for some, entering into a new year is the prime time to properly execute their job search – which has taken a back seat for months now.
New research by Unum revealed that 43% of workers will ‘probably’ look for a new job while 38% are ‘very likely’ to look for a new job.
This news comes as 24% frequently think about quitting their existing jobs. Additionally, the research suggested that Generation Z (61%) and Millennials (55%) were the generations with the highest probability of looking for new jobs within the year.
And with the number of job searches ramping up in January, employers should consider their employee benefits packages to remind workers what’s on offer and why they should stay put.
Liz Walker, HR Director at Unum UK, said that the research indicates that “poor benefits communication costs UK employers £2.7billion in employee turnover per year”. She added:
“This is far too high, especially for employers who are actively investing in the health and well-being of their employees through benefits and resources."
“Sharing details about the employee benefits you offer can increase the perceived value of your employee benefits at little or no extra cost, improve employee satisfaction levels, and provide an invaluable tool for staff retention.”
With that in mind, here are three of Walker’s tips for communicating workplace benefits to your employees:
Understanding how the workforce is changing – Businesses should think about the kind of perks that different generations crave in order to retain them.
Take the pulse of your workplace culture – Survey employees’ knowledge and understanding of workplace perks. This will help you identify strengths and opportunities for improving workplace culture.
Go back to basics – Measure the success up until now of the communications undertaken so far and see what impact it has had on employee engagement.