Employee retention | Flight Risk: How to identify it and what to do about it

Flight Risk: How to identify it and what to do about it

By Lord Mark Price, Founder, WorkL for Business

A staggering 25% of employees are at risk of leaving their job this month, according to data from my platform, WorkL for Business, with industries that suffered the most during lockdown seeing a high number of employees wishing to leave.

This figure will shock business owners and have them asking how they can possibly identify those who would likely resign.

Analysing our data we can see that out of the 8,000 individuals who took our workplace survey in June, 25.44% are a flight risk. This means that a quarter of the respondents are at risk of leaving their job this month because they are unhappy at work.

The average score amongst the Flight Risk group is 40.78%, where as the average score for ‘Safe’ employees is 81.32%. This 40% gap shows there is significant room for improvement and business owners must wake up to this gap and endeavour to reduce it. Never has it been more important for employers to keep track of those who are happy or unhappy at work and identify who is at risk from leaving the organisation.

More than a quarter of a million individuals have taken the workplace survey devised by WorkL with the survey currently being taken by 5,000 employees a week. Our tests measure factors such as working environment, relationship with line manager, sense of purpose and career progression.

WorkL can identify who is a flight risk with analysis of exit surveys highlighting where low scores on certain questions trigger a departure from the business. The flight risk is calculated from four questions in the Workl happy at work survey which include whether employees feel they are fairly paid, whether they have a good relationship with their manager, if they enjoy their job and if they are being developed. Falling down on these key questions, scoring below 60% flags employees as a potential flight risk.

Once identified as a flight risk employers could look to WorkL’s six steps which enables businesses to help improve workplace happiness and importantly, retention. Here at WorkL we believe in the importance of reward and recognition, information sharing, empowerment, well-being, job satisfaction and instilling price. These six steps have been identified by WorkL as being key to improving workplace happiness which ultimately helps to improve productivity in the workplace.

Looking at the Flight Risk by industry shows that those working in Retail are most likely to be a Flight Risk with a 32.33% risk. This is not unexpected considering the well-documented problems with retail and the high street, particularly during the Covid-19 pandemic. This is followed by the Travel & Leisure industry, another industry that has struggled with lockdowns, which scored 30.07%. Hospitality scores 28.04% . This is broken down further by company and the results can be viewed here.

To keep track of how the global workforce feel about their working lives, take a look at our free reports published each month with up-to-date analysis or join us for our free monthly webinars.

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