Employees are turning their backs on employers

Best of the week: Employees are turning their backs on employers

March 19, 2021 2:06 PM

The upheavals caused by COVID-19 are forcing pushing employees to make major changes.

A quarter of employees plan to switch jobs in 2021, according to a study by IBM. More than a third of employees are willing to switch jobs for just a 10% raise, according to a survey by Elements Global Services, an HR consulting firm.

In addition to higher pay, employees are searching for better benefits that address their mental health and well-being. A lack of childcare support and high rates of burnout are pushing employees — and especially women — out the door.

“People are reconsidering and reevaluating their priorities,” says Dr. Natalie Baumgartner, chief workforce scientist at Achievers. “They’re looking at the way that their organization is supporting their well-being and the balance in their lives.”

Employers are getting innovative with their benefits to help retain their current workforce. DailyPay launched an incentive program that provides bonuses, PTO and cash rewards to employees. Homework Helper offers working parents a virtual tutoring benefit, to engage children and help employees stay productive.

Our top stories of the week explore the ways employers need to respond to the persistent workplace challenges in order to retain their workplace population throughout COVID and beyond:

IBM study finds COVID hasn’t stopped employees from seeking new jobs

Employees — especially millennials and Gen-Z — are becoming more vocal about the things they expect from their employers. No longer is it enough to simply provide a salary and health benefits. Employees want support in their everyday lives and they are willing to change jobs, even in a rough economy, to get it.

Employees want work-life balance and career advancement opportunities, according to a recent study by the IBM Institute for Business Value. Twenty-eight percent of employees who said they plan to change jobs in 2021 cited the need for a more flexible work schedule and increased benefits that support their well-being as their reasons for wanting to leave their current company.

Read more:

IBM study finds COVID hasn’t stopped employees from seeking new jobs

Workplace stressors are pushing employees out the door

It’s not enough to simply provide a salary and health benefits — employees are willing to brave an unsteady job market for more support.

The rising dissatisfaction among employees comes down to a lack of compensation and a failing work/life balance, according to a report by Achievers Workforce Institute, an engagement and performance platform. With less distractions at home, workers are forgetting to step away from work, leading them to overextend their work hours. Fifty-one percent of employees currently working from home worry their manager doubts their productivity, the report found. To compensate, 70% of employees say they work on the weekends and 45% are working more hours per week than pre-pandemic, according to data from consulting firm Robert Half.

Read more:

Workplace stressors are pushing employees out the door

The dos and don’t of mental health interventions

As remote work blurs the line between professional and private life, managers have been encouraged to share their own challenges with employees, in an effort to connect with them and alleviate their stress. However, there’s a fine line leaders should learn to tow, says Gail Golden, an organizational psychologist and author of Curating Your Life.

“Everyone is talking about bringing your whole self to work and authenticity in the workplace — I’m not a fan of that,” Golden says. “There are pieces of ourselves that don't belong in the workplace. When you're a leader, all your fears, all your anxieties, all your self doubt — it’s not smart to share all that stuff.”

Read more:

The dos and don’ts of mental health interventions

Working parents want more benefits to support their kids

When Erin Kapczynski and her husband were faced with juggling two school-age children and full-time jobs, they decided the best way to fix the problem was by being the solution.

The couple launched Homework Helpers in November 2020, which connects students with professionals who can help them manage and organize their assignments. The service is an extension of their previously successful virtual child care platform, Screen Stars. Both programs were inspired by the pandemic, Kapczynski says. As work became remote and kids transitioned into a home learning environment, they quickly realized they weren’t the only family who would benefit from a helping hand. The best way to support parents, and particularly working mothers, is to first support their kids.

Read more:

Working parents want more benefits to support their kids

DailyPay debuts incentive program for employer clients

DailyPay, an on-demand pay platform, is launching an incentive program for its employer clients to motivate and engage employees.

REWARD by DailyPay allows managers to incentivize their staff with immediate bonuses and incentives for exemplary work to pick up additional shifts. REWARD will connect managers and HR teams into DailyPay’s on-demand pay platform called PayEx, which will allow them to utilize DailyPay’s technology in order to become more active participants in their employees’ pay experience.

Read more:

DailyPay debuts incentive program for employer clients