Why is retaining employees so difficult? Well, times take changed. Gone are the days when companies held complete control and employees would remain with the same visitor for their unabridged career.

THE AGE OF THE EMPLOYEE
Nosotros have entered the historic period of the employee where talent rises to the elevation, and task opportunities and technology requite employees command over their career path more than ever. If an employee feels mistreated or not aligned with the company values, they jump ship without thinking twice. Why? Considering they have options. Task openings, recruiters, and apps put new opportunities in the pockets of every employee. A younger workforce who is accepted to mobility, specific values, and new experiences volition not stay at an organization with a mediocre employee experience.
#ane: IT'Due south A Job SEEKERS Market place
Every bit the US economy improves there is a higher demand for workers than over the past x years. Since 2015, job openings surpassed hires, meaning that at that place are more jobs available than tin be filled.

employee-retention-job-seekers-market

Quits, or voluntary separations, and are ascent accordingly as new and better opportunities become available. This is keen for job seekers all the same problematic for organizations looking to retain acme talent.
#2: DECREASED LAYOFFS Bulldoze QUITS
Why would people quit their jobs right? A valid question, especially for those of united states of america that went through the 2008 recession. Quits plummeted during the recession as workers weathered the poor economy.
employee-retention-decreased-layoffs-drive-quits
This created a back-log of potential quits that were released equally the economic system improved. The recent subtract in layoffs is making employed job seekers more confident in their ability to find better piece of work, thereby increasing quits.
#three: TENURE IS AT AN ALL-Fourth dimension Loftier
With all of the new job openings available, it seems average tenure would be declining. Simply the latest data from the US Department of Labor in 2014 shows boilerplate tenure is at its highest point over the past xxx years.
employee-retention-chart-tenture-is-at-an-all-time-high
Tenure is flat since 2012 and we suspect a slight subtract will be establish once new information becomes available.
#4: MOBILITY OF YOUNGER WORKERS
Looking at tenure by age shows that the youngest group of workers have the everyman average tenure of almost three years. This hasn't changed much since 1951.
employee-retention-chart-mobility-of-younger-workers
Think about it. Younger workers are usually more mobile and are looking for better career opportunities.
#5: MILLENNIALS ARE TAKING OVER
Millennials now make up the largest segment of the workforce.
employee-retention-chart-millennials-are-taking-over
There is a lot of talk about Millennials, but the truth is that they are just as mobile as immature workers in the past, in that location are just more of them in the workforce now.

HOW TO CREATE AN Amazing EMPLOYEE Experience
In this task-seeker's market, those companies that attract, retain, and engage top talent do then by creating an astonishing employee feel. The employee experience is the sum of perceptions employees accept most their interactions with the organisation in which they work. It is based on the iii employer/employee contracts:

  1. Make (Attract New Talent):The expectations people have of the company equally an employer. Why would someone desire to piece of work for your company?
  2. Transactional (Retain Your All-time Workers):The formal expectations betwixt an employer and employee of the employment contract. What makes employees stay at your company?
  3. Psychological (Engage Your Employees):The unwritten expectations that motivate and engage employees in their work. What engages employees to exercise their all-time work? How these contracts are fulfilled determines the strength of the employee feel and how well an organization attracts, retains, and engages its workforce.

READ THE EMPLOYEE Experience
The Employee Feel helps organizations attract and retain top talent but also reveals the secrets for building a deeply engaged workforce. With deep insights into the dynamics of trust and mutual expectations, this volume shows that before yous tin can deliver a transcendent customer experience (CX), you must starting time build a superlative employee feel (EX). This is not about creating a worker's utopia, and it does non mean that piece of work must exist like shooting fish in a barrel; employees are responsible for managing expectations and coming together the organization's requirements.
Read more than on Employee Turnover here.