Maintaining the retention of employees is becoming more difficult as people have more choices than ever in a competitive market. Misperception remains significantly problematic for many companies, hindering employee relations and hurting retention rates. Managers may perceive staff as content and happy, ready to work for the day. Employees, however, continue to report dissatisfaction. When these two views don’t align, establishments struggle to maintain a fluid work staff. Likewise, it is why the retention of employees continues to become a struggle for employers.
Retention of Employees
Companies seeking to stabilize employment need help. Agents should discuss the value of staffing professional liability insurance and review the current data on workforce loss. Retention requires significant change.
What Is the Retention Disconnect?
A study by McKinsey and Company reviews staff and employer outlooks. Their research indicates that team members desire value within the organization, seeking recognition for their achievements. They want to feel good about themselves; thus, work-life balance and well-being top the staffing list.
Companies, however, misinterpret the employee. Instead of focusing on the central issues, they provide perks and changes they hope to increase happiness and satisfaction. Bonuses and advancements, while friendly, do not change the desire to feel valued. They are bandaids and not proper fixes to the underlying troubles.
To eliminate the disconnect, groups should focus on building bridges. These fixes are quick and require a shift in mentality. Consider the work atmosphere, the stress level, and the organization’s priorities.
What Is Staffing Professional Liability and Why Do You Need It Now?
During high turnover, staffing agencies remain busy placing people in appropriate jobs. They’re networking with companies and potential employees. Agencies may find themselves in situations where workers don’t go with companies on time, or the staff fails to live up to expectations. It’s a constant flux of movement.
A disconnect here could lead to liability issues and potential class action suits. Therefore, staffing agencies should protect themselves with an appropriate policy that covers financial loss from worker errors and placement concerns.
Who Is Responsible for the Errors of a Temporary Staffer?
Companies seeking permanent players may turn to temporary staffers to fill gaps. Agencies strive to find the best fit, but errors happen, leaving the staffing group and the business at risk. Therefore, companies should ensure that temporary staffers have mentors and training to minimize issues.
In addition, strive to fill positions and hold them, reducing temp needs. See employees as people and empathize with them. Listen to concerns and overhaul procedures that they feel overtax them or make them feel less valued. Office staff no longer want to see themselves as cogs finishing projects and tasks. They want employers to see them as humans with feelings and personal needs.
Organizations need to work on the root causes of employee loss. Bonuses and minor changes temporarily fix issues but don’t establish long-term connections. Agents should review the benefits of staffing professional liability insurance with clients and discuss the company’s practices, seeking ways to understand employee desires.
About World Wide Specialty Programs
For the last 50 years, World Wide Specialty Programs has dedicated itself to providing the
optimal products and solutions for the staffing industry. As the only insurance firm to be an ASA
commercial liability partner, we are committed to that partnership and committed to using our
knowledge of the industry to provide staffing firms with the best possible coverage. For more
information about Staffing Professional Liability Insurance or any other coverage, we have
available to protect your staffing business, give us a call at (877) 256-0468 to speak with one of
our representatives.