Our 2023 key findings that can increase employee retention

Employee retention is a critical issue for businesses looking to maintain a talented and engaged workforce. As the job market becomes increasingly competitive and diverse, organisations must adopt proactive strategies to reduce employee attrition rates and retain top talent.

So, let’s talk about strategies for employers to embrace in 2023, along with a special preview of our unreleased Tech Report which includes insights of 10,000 professionals from Junior Developers to CTOs sharing their industry knowledge.

Employee retention is a key focus area for employers as they strive to maintain a competitive edge in today's dynamic business landscape. Here are some of our 2023 key findings that can bring value to your organisation:

  1. 6/10 of candidates have said they would choose a role that offers tailored benefits if the salary was the same or lower than their current role.
  2. Offering professional development opportunities - More than 1/3 of employees don't have a personal development plan in place.
  3. Employees want to work in a company where they feel valued and listened to. Almost 74% of employees say they feel unable to reach their full potential at work due to the lack of a positive company culture.
  4. 28% of candidates chose that flexible working is in their top four benefits that add the most value in the workplace.
  5. Recognising employees for their contributions, 1 in 4 employees said they don't feel supported by their management.

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However, note that these strategies are not one-size-fits-all and may need to be tailored for different generations and demographics in the workforce.

Engagement involves creating a work environment where employees feel valued, respected, and empowered to contribute their skills and ideas. At the same time, employee engagement is also linked to workforce diversity and inclusion. More than 70% of candidates we’ve spoken to said that understanding a potential employer's D&I initiatives would make a difference in their decision-making process.

As the workforce continues to diversify, organisations need to ensure that they are creating an inclusive work environment that embraces different perspectives and experiences, that said 58% of businesses that had tailored benefits had been effective in improving employee engagement and retention.

If you're interested in gaining a deeper understanding of the future of employee retention and engagement, we want to invite you to sign up for access to our Innova-view 2023 report! This report will provide you with critical insights on attracting talent, retaining the best way and recruiting staff. Sign up today with the link here