Reducing turnover is a constant goal for every company. After all, having this number under control is one of the main indicators of organizational health in a business. But how to do this effectively? One of the main ways is to invest in benefits that reduce turnover .
With this in mind, we list in this article the initiatives that bring the best results in retaining talent:
- care for well-being;
- on-demand salary;
- flexible hours and home-office;
- training and development;
- career path.
Want to know more about it? Check out everything below!
What is the relationship between the benefit plan and the turnover?
Gone is the time when offering a competitive salary was enough to keep employees happy. Nowadays, offering benefits that reduce turnover is essential to strengthen the bond and engage employees .
In an Insper survey , 90% of respondents stated that benefits are the main motivating factor for staying in a company. In other words, for most people they are a priority, not something secondary .
A study by Paycor , in the United States, shows even more impacting data on the relationship between benefits and turnover.
According to the survey, the average turnover for organizations without benefit plans is 157% . On the other hand, companies that invest in this type of initiative show a reduction of 138% in this rate.
It is also important to be relevant in the choice of benefits, without just focusing on basic offers, such as transportation vouchers and medical assistance . Take into account the needs of employees and be creative when setting up your plan , as this can bring great results to the business.
According to Paycor, companies that implement benefits that reduce turnover perform 58% better than others . In addition, they recruit 19% more efficiently and are 28% more likely to retain professionals.
What are the benefits that reduce turnover?
Now that you know the numbers, it’s time to get to know the benefits that reduce turnover.
There are a multitude of options available on the market, which can make HR’s choices a bit more difficult when assembling the package. The big secret is to assess the needs of employees and implement benefits capable of improving their daily lives, whether inside or outside the company.
Check out some of these benefits below and see how they help control your company’s turnover.
Care for well-being
Implementing benefits focused on taking care of employees’ well-being is an excellent strategy for retaining talent.
Start with the basics: have equipment in good working order and offer good hygiene and safety conditions in the company. All of this makes the workplace comfortable and influences the way the employee perceives the environment.
But don’t just stay there. It is still possible to go further, effectively taking care of employees’ mental and physical health . This type of initiative ensures that they are always in full condition to carry out their activities, and it also increases the degree of happiness in the organization.
Some benefits that reduce turnover and have this focus are:
- agreement with gym;
- labor gymnastics;
- creation of sports groups;
- free fruits during the season;
- cafeteria with a healthy menu;
- positive organizational climate .
- On-demand salary
Trend in the market, wages on demand is one of the main benefits that reduce turnover. This is because it helps to avoid financial stress , something common to most Brazilian workers
There are not a few professionals who are plunged into debt , having problems even to meet basic household expenses. Another issue is the difficulty in building an emergency reserve , since the country’s financial habits are much more focused on consumption than savings.
All of this makes people use credit alternatives such as overdraft , with interest of exorbitant 300% per year . This is where the importance of wages on demand comes in, which makes it possible to withdraw payment for days already worked in the month at any time .
Without having to wait a fixed day to receive, the employee has much more freedom and control over his own finances . In this way, it is possible to align the receipts to the due dates of the accounts or to any emergency, without having to resort to overdraft or any other form of bank loan.
It is also important to invest in other solutions to improve the financial lives of professionals, such as personal budget courses, investments and even specialized advice to get out of debt, for example.
These extra benefits are sure to make the employee value the company where he is and remain much longer in the team.
Flexible hours and home-office
You can’t deny that time is valuable in people’s lives. Therefore, benefits such as flexible hours and home-office are increasingly important in the daily lives of companies.
In flexible working hours , employees can work at the time of day when they feel most productive , which helps to improve their performance. In addition, there are other advantages such as avoiding stressful traffic at peak times and better reconciling personal commitments with professionals.
If the employee’s activities can be performed remotely, offer him the possibility of working in the home office. That way, he can have a more comfortable routine, going to the office only when it’s really necessary.
Both benefits are excellent ways to improve the team’s quality of life , an essential factor for retaining talents and reducing company turnover.
Training and development
In general, employees view training and development initiatives with good eyes. After all, proper training is the key for a professional to evolve in the company and career. Therefore, when there is investment in training, employees feel prestigious and become more engaged , which helps to reduce turnover.
Include in the benefit plan partnerships with universities and educational institutions for free or discounted courses. Also offer training developed by the company itself, in person or through EAD platforms.
With so much support for studies by the company, employees will think twice before considering other job opportunities.
Among the benefits that reduce turnover, one of the most effective is offering a consistent career plan . It must be planned in a balanced and personalized way for each professional, taking into account the interests of the company and the ambitions of the employees.
That way, the organization’s talents will know exactly what to do to get where they want, with the support of their leaders. The career plan must be transparent and accompanied by constant feedbacks , so that professionals become aware of their successes and failures, always looking for improvement.
It is this type of opportunity that keeps good values in the company instead of looking for jobs in other companies.
Now that you know the benefits that reduce turnover, how about putting what you’ve learned into practice? Before assembling the benefits package, take a good look at the company scenario and the needs of employees . This will be essential to make the right decisions and achieve great results in people management.