- Key insight: Discover how compensation, benefits and flexibility now dictate retention and attraction strategies.
- What's at stake: Rising turnover and talent shortages could undermine productivity and strategic initiatives.
- Supporting data: 70% of workers declined offers due to pay or inadequate benefits.
- Source: Bullets generated by AI with editorial review
Employees are on edge, plagued by concerns over
According to a new survey from Remote.co, 70% of workers said compensation and inadequate benefits led them to decline a job offer and 61% cited a lack of work-life balance. No option for
These are reasons employees leave jobs as well: Nearly three-quarters of respondents said a toxic culture would make them quit or seriously consider it, another 57% percent said they'd leave because of low or unfair pay, and 50% said poor work-life balance was a deal breaker.
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But leaders can take steps to sweeten the deal for prospective and current employees, including offering competitive pay and benefits, and setting expectations around work-life boundaries that give people permission to disconnect, says Remote.co career expert manager Toni Frana.
"A generous benefit package can lead to greater employee engagement and retention, as employees feel less stressed about meeting their personal needs," she says. "[And] companies can promote a more positive and balanced culture by setting expectations around when, how often, and how to communicate, particularly if someone is out of the office," she says.
Leaders should also be transparent about the planned role of AI in the workplace and set up safe-use practices that protect employees and the business, Frana says.
"Clear and concise communication around how, why, and when to use AI will reduce uncertainty and speculation from employees," she says. "Further, offering hands-on training for specific tools, and how to use them, builds confidence with staff and gives them a deeper understanding around these new and fast-evolving technologies, as well as appropriate guidance for ethical and responsible usage."
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More ways to improve
Career advancement
The tone for career growth can be set from day one by making conversations part of the interview process, Frana says. Along with a look at what inward mobility is available, hiring managers can take the opportunity to talk about any employer-sponsored skill development or education programs that can help employees achieve their professional goals.
"Often, employees are interested in career growth opportunities, particularly when considering a new job offer," she says. "A company that provides clear career paths and additional growth opportunities to a prospective employee shows potential hires that the company invests in its people and wants to give them the opportunity to succeed beyond the role they are initially hired into."
Remote work
If a lack of remote options is due to a company's RTO policy, leaders can make an appeal for the positive impact of in-person work. In addition to presenting it as meaningful time with teammates, perks such as catered lunch, commuter stipends and child care assistance can help get employees on board.
"Connecting, collaboration, and team development are a few reasons why an employer may lean into in-office work," Frana says. "For employee buy-in, employers should clearly lay out what benefits and successes they are expecting to achieve as a result of the RTO."
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Supporting wellness
The survey found that 4 in 10 employees feel they always need to be "on," meaning they have no real break from work. This can lead to increased issues with stress, presenteeism and burnout, which can impact teams and company goals, Frana says. To help workers thrive, leaders can put benefits and policies in place that allow them to prioritize wellness. Frana reminds leaders to make sure they are setting the example for self care, and encouraging employees to do the same.
"Companies committing to providing mental health and wellness support are showing employees that their well-being is important to the company," Frana says. "When that is the case, employees often feel more loyal and connected, so it is a win-win."
