Keeping good employees satisfied is always a concern. A current strong economy and low unemployment rate is increasingly making employee retention a top priority for many business owners.
According to recent Bureau of Labor Statistics, over the last few years, employees have quit at an increased pace in a variety of industries, including healthcare, construction and hospitality and food service. The number of workers who quit in February 2019 amounted to 3.5 million employees.
Given the time and money dedicated to hiring and training employees, these employee retention statistics may be alarming.
Increased Absenteeism and Decreased Performance
“Often when employees seem disengaged, decrease their output or lose their drive to go above and beyond, those are signals that may indicate they’re at risk of leaving,” says Costello. “They may also stop bringing new ideas to the table or actively participating in team meetings.”