From Recruitment to Retention: Four Ways Employers Are Retaining Employees

• In West Texas, truck drivers are earning six figures and 20-something-year-old newcomers are doubling their earnings in the oilfields after just two weeks at a junior college. Nationwide, some companies are expanding parental benefits to include egg freezing. A sandwich shop in greater Indianapolis is offering part-time workers college tuition reimbursement. A business owner in Redwing, Minnesota, rented homes to the company's seasonal workers to alleviate housing issues.

  Anecdotes like these sound extreme, but they are increasingly common-and for good reason. Pressure is building on companies across the country to do whatever it takes to retain workers. In the spring of 2018, the number of job openings in America exceeded the number of unemployed persons for the first time since December 2000, when the Bureau of Labor Statistics began reporting total non-farm job openings.

• In such a tight labor market, businesses must spend significantly more energy on retention-on showing employees they are appreciated and valued-given that recruiting new employees is more difficult than ever.

  Express Employment Professionals franchise owners report a range of new initiatives, which fall into four main categories:

  • Wages and bonuses
  • Family benefits
  • Education and training
  • Workplace culture
  
  
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