In my research for my book Practical Tools to Manage Costly Employee Turnover, I found "new" trends that impact turnover and productivity. Increased competition for employee talent and greater investment in employee development have made turnover more costly, making the retention of employees a critical business concern. Many human resource experts maintain that the adoption of "work/life policies" will result in a more loyal, committed workforce.
"Employee loyalty has long been a concern of employers because of its link to behaviors such as attendance, turnover, and organizational citizenship (Schalk & Freese, 1997)"
In a recent study, nearly half (47.3%) of poll respondents chose "work-life balance/flexibility programs" as the most important factor their companies should support -- across Millennials, Generation X, and Baby Boomers, it was the highest ranking response.
Some employee-friendly workplace policies:
- Flextime -- shorter work week. For employees with families, control of their time may be the most valuable benefit an employer can give. A four-day work week, for instance, or days off mid-week instead of on the weekend, or starting and ending the workday several hours earlier or later than normal.
Employees who feel that their family responsibilities are valued by their employers are:
- less stressed
Even more important than the presence of employee-friendly policies is the implementation of those policies -- providing an atmosphere in which employees feel they will not be penalized for work-family conflicts, and they will receive reasonable, affirmative support in their attempts to address work/non-work life issues. Training of supervisors and managers is critical to the success of policy implementation.
With "nice" policies, businesses can:
- Maximize employee productivity
For more information on ways to address employee turnover and retention, see other blog posts here www.mjms.net/blog and check out our book: Practical Tools to Manage Costly Employee Turnover currently available for the Kindle at Amazon and downloadable eBook here.
Margaret Jacoby, SPHR, is the founder and president of MJ Management Solutions, a human resources consulting firm that provides small businesses with a wide range of virtual and onsite HR solutions to meet their immediate and long-term needs. From ensuring legal compliance to writing customized employee handbooks to conducting sexual harassment training, businesses depend on our expertise and cost-effective human resources services to help them thrive. This article first appeared on the MJ Management Solutions blog.