While compensation and benefits may play a large role in attracting individuals to a company, length of stay may be influenced by several extraneous factors that human resource professionals need to consider.
As Human Resource Executive points out, nearly 75 percent of all organizational turnover is directly related to the manager employee relationship. So, while robust employee benefits may draw top talent, the culture of a workplace will do far more in the long run to retain that talent.
As the economy slowly improves and job seekers begin to have more options that match their skills and experience, many companies may need to reevaluate how their current human resources management system may impact employee staying power. This becomes especially important when one considers that 60 percent of employees intend to leave their current position when the economy improves, according to the source.
While employee bonuses and company parties may make for a happier workforce, they do not cover all of the bases when it comes to hanging onto stellar staff, according to Inc. Magazine. Companies may also want to help their employees strike the work-life balance by hiring individuals who live closer to the office, or by allowing employees to accumulate vacation days instead of offering a set number of days each year.
