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Increasing Employee Turnover In 2022

on Friday, 15 October 2021.

With recent research showing that staff turnover rates are continuing to rise, should employers be concerned about the retention of their staff moving forward?

Employee Turnover Continues To Rise

A recent study carried out by Gartner has shown that up to 38% of employees are currently looking to change roles within the next 12 months. In addition, the survey also found that 32% of UK workers have at least two other job opportunities to consider. This may come as no surprise in light of the news that, according to the Office for National Statistics, the number of job vacancies in the UK has hit a record high.

How Should Employers Respond?

With the job market becoming increasingly competitive, many employers are considering how flexible working practices could be used to help with recruiting and retaining staff It is undeniable that following the COVID-19 Pandemic, a lot of employees have enjoyed the benefits of hybrid working and will want this to continue as employers welcome staff back into the workplace.

Many employers have also been reviewing their employee benefits, with some now offering improved family leave pay in an attempt to convince parents to stay. Research undertaken by Bright Horizons found that close to four in five employers now offer enhanced maternity (and adoption and surrogacy) leave pay beyond the statutory entitlement.

In addition, the study also reported a rise in paternity leave pay, with the number of employers offering enhanced paternity leave pay increasing by over a fifth. However, the study did state that more could be done in terms of enhancing paternity leave and in doing so, pointed to a previous study conducted by the CIPD which found that 95% of men reportedly thought that workplace culture should be transformed to normalise men taking extended paternity leave.

What Are The Long Term Implications For Employers?

It is currently very difficult to make predictions about the future, but it seems likely that some sectors will see increased competition for workers into 2022. If this is the case for your business, it may be worthwhile to review how changes to workplace benefits and terms and conditions might help keep you a step ahead of the competition.

If you require further advice on the issues raised in this article, please contact Michael Halsey in our Employment Law team on 07554 432 829, or please complete the form below.

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