Money Talks: 70 Percent of Workers Say Increased Salary is the Best Way to Boost Retention
- February 4th, 2013
- 16 Comments
Nearly one-third of employers (32 percent) reported that top performers left their organizations in 2012 and 39 percent are concerned that they’ll lose top talent in 2013. While most workers (66 percent) stated that they are generally satisfied with their jobs, one in four (25 percent) said they will change jobs in 2013 or 2014.
But it turns out employers may be able to retain those valuable workers by offering them what they want most. Seventy percent reported that increasing salaries is the best way to boost employee retention while 58 percent pointed to better benefits.
Other actions workers said employers should take to reduce voluntary turnover include:
- Provide flexible schedules – 51 percent
- Increase employee recognition (awards, cash prizes, company trips) – 50 percent
- Ask employees what they want and put feedback into action – 48 percent
- Increase training and learning opportunities – 35 percent
- Hire additional workers to ease workloads – 22 percent
- Provide academic reimbursement – 22 percent
- Carve out specific career paths and promote more – 21 percent
- Institute a more casual dress code – 14 percent
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