The New Year often symbolizes fresh beginnings, resolutions, and renewed aspirations. However, for businesses, it can also bring about a challenge that is not as easily resolved – the spike in employee turnover during the New Year season. It is not surprising, considering the New Year is a natural time for self-reflection and contemplation, often resulting in the establishment of new goals and ambitions.

According to research from Glassdoor, several factors contribute to the increase in employee turnover. A primary reason behind employee departures is a low salary, as indicated by 35% of respondents. Approximately 23% seek a new challenge, while 22% find their work too monotonous to consider staying. Meanwhile, 16% of male respondents are more likely to resign due to company culture, compared to 11% of women. Conversely, women (19%) are more inclined to leave a role disapproving of their line manager, compared to men (17%) (hrmagazine.co.uk).

To address and mitigate the impact of employee turnover during the New Year season, employers can implement various strategies. Companies should engage in open and transparent communication with employees throughout the year, addressing concerns and providing feedback. Moreover, since salary dissatisfaction is the primary reason of employee turnover, employers can implement retention initiatives such as performance-based bonuses, career development programs, and flexible work arrangements (frontlinerecruitmentgroup.com).

How do you prevent employee turnover? Share your experiences below!

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