The Employee Retention Crisis and Mental Health
Paige Galle | April 20, 2022 | Employers
According to the Labor Department, 4 million people quit their jobs in April 2021. A recent Forbes article looks into job seeker and employee perspectives to explain why.
Working from home at various points during the pandemic has changed expectations for the workplace in a variety of ways. Many employees have become accustomed to working remotely, enjoying more flexible work hours, less cramped workspaces, no commutes, and seeing no resulting drop in overall productivity despite previous beliefs. Looking back on their old routines, 57% of respondents said working in the office negatively impacted their mental health. Unsurprisingly, this has led many to re-evaluate the conditions in which they are now willing to work, as companies now begin to decide whether to require full time return to office. A McKinsey and Company survey found that over half of employees now favor a flexible hybrid-remote model, while Microsoft found that 73% of employees felt the same way. In any case, job seekers are now looking for more flexibility from employers than ever before.
Additionally, the pandemic’s widespread effects on employee health and wellbeing have uncovered the need for real, usable mental health support and health benefits. Job seekers and employees are no longer enticed by things like small office perks like free food or lounge areas. In fact, 57% of employees said they would give up free in-office food for free mental health resources, 55% of job seekers would take a lower paying job for better health benefits, and 74% of employees would leave their jobs if health and sustainability issues are not adequately addressed.
It is clear that employee and job seeker expectations and desires have changed, and the majority will not compromise what Joblist’s Job Seeker Index determined to be the most valued workplace benefits: flexibility, and sick and parental leave, and health and wellness benefits.
How employers should respond:
74% of employees say that employers should re-evaluate provided benefits after the pandemic. For this reason, there is an opportunity to use actual data to determine exactly what an employee population is looking for. Engaging in this necessary communication about employee wellness needs and responding accordingly will be the key to both employee retention and attracting future employees in the current environment.
If you would like to learn more about Mindyra’s employee mental health solution, schedule a demo with our chief clinical officer at Connor.email@example.com, or visit our home page for more information.