Should I Stay, or Should I Go? 

By Susan Hanold

This question seems to be coming up frequently and openly with employees in today’s labor market.  It may be the same question that we have heard in the past, but as employees continue to reflect on their changing priorities and needs and the support they’re looking for in their employers, it’s perhaps a question they’re asking themselves with a bit more weight. 

Hiring employees in today’s economic climate continues to be a major challenge. According to the Bureau of Labor Statistics (BLS), the unemployment rate remains below 4%. With the tight labor market, it’s challenging to find ways to fill open roles and even keep employees from leaving for higher pay elsewhere.

Here are a few tips to consider.

Start with the data

To really analyze the question “to stay or to go,” it’s good for both the employee and employer to ground decisions based on current data about their workforce. 

When employers track retention, it’s important to focus on retaining employees who are high performing. Retaining non-performers can be damaging to team culture and operations. When reviewing your retention numbers make sure they reflect the true of representation of your talent.  Are you hanging on to poor performers because you may be struggling to find a replacement or it’s taking longer to fill a role than desired?  It’s important to try to avoid misguided loyalty where the employee stays and pulls the team’s energy down. Equipping your managers with data will allow them to be proactive.

“ADP dashboards provide valuable insights into turnover reasons and timing, which we consider to improve employee retention. ADP’s salary band metrics and Individual Performance Plan reports also aid managers to understand and accommodate important motivations for employee retention,” said Lory Garrison, talent resources data analyst from Ewing Irrigation and Landscape Supply.

Manage the shifting priorities 

Employees leave for a variety of reasons.  During the pandemic, the market showed a stronger shift for employees desiring to work for companies that focus on wellness, work-life balance, and workplace flexibility.  

Remote work is even becoming a make-or-break factor for many job hunters. Two-thirds of the global workforce (64%) said that they have or would consider looking for a new job if their employer wanted them to return to the office full-time, according to a recent ADP Research Institute study  of more than 32,000 people. 

And while most jobs still don’t – or can’t – accommodate remote work, the number of positions advertised as remote continues to climb. Employers are increasing pay, too, especially for people with in-demand skills such as truck drivers, cashiers, registered nurses, and stockers and order fillers. To correct that imbalance, employers should work to improve their branding and find ways to make their jobs more attractive. This could mean ensuring a good experience for candidates during the hiring process and offering higher pay, improved benefits, and flexibility to allow for work-life balance.

Manage performance and ignite the energy of your team

Even as layoffs and furloughs have returned to normal, quits are still on the rise. The number of people voluntarily leaving their jobs hit a record in March 2021 and has been notching new records ever since, according to the BLS. Workers’ desires to reevaluate their priorities and work experiences is real.  Managers having open and candid conversations with their team members can go a long way in helping them understand where employees stand on “staying or leaving.”   

With many companies hiring a significant number of new employees, recruiting and on-boarding processes have had to be streamlined and automated.  Ignite the energy of your team by providing a welcoming experience with candidates by leveraging mobile-first experiences that keep candidates engaged during their hiring journey.   

The manager can play a key role in retaining employees or managing employee needs as their priorities shift.  “To keep an eye on retention, I manage the overall energy of my team, so they feel motivated, inspired, and productive.  In leading a completely virtual team, I touch base and check in with them regularly and not always about tasks but how they are feeling,” said Suzanne Harris, VP of HR at NexusTek.

Many companies have the best intentions for developing a retention strategy but don’t know where to start.  They can lack the right data, resources, or strategy.  ADP Strategic Advisory Services offers a combination of HR strategy and advisory services, specifically a strategic workshop, for clients to address retention challenges and opportunities.   

You’re not alone in trying to navigate this shifting environment.  Employers should equip their HR leaders with data they can trust and insights into constantly changing workforce sentiment to help encourage employees to keep an open dialogue.