Massages & arcades | Do work perks still have a place in HR's retention strategy?

One of the central anxieties for businesses currently is the prospect of a mass staff migration as a result of easing coronavirus restrictions within England. Many pieces of research conducted in the throes of the pandemic have pointed to this inevitable move.

For example, data compiled recently by Aviva discovered that over 60% of UK workers are currently looking to jump ship from their current employer. This amount has continued to rise as the pandemic progressed – it represents an increase of seven per cent since July of 2020.

And whilst some level of turnover is inevitable, the threat of mass-resignations could well be a looming disaster on the HR agenda, with Open Access stating that the average cost of replacing an employee represents about 75% of the outgoing worker’s annual salary.

At C-suite level, firms are resorting to doling out huge increases in financial renumeration, and bonuses representing hundreds of millions of pounds as a means of persuading leaders to remain in top positions.