'Employees who lack a strong feeling of belonging are five times more likely to seek another workplace.'

As turnover rates are greater than the previous year, the great resignation is still heating up.

According to e-learning business, MindEdge and credentialing organization HRCI, 42% of US companies claim that the number of employees leaving their jobs is higher than before the pandemic. Likewise, another 25% claim that it is significantly higher.

Based on the report, dealing with this turnover is a challenging chore: "Fully 82% of HR professionals said that finding replacements for departing staff is difficult, including 26% who claimed that recruiting new personnel is extremely difficult."

The majority of employers (97%) report that their business is employing new personnel, with 54% doing so more quickly than they were before the pandemic. Hence, more than one in three (35 %) think turnover has risen compared to last year.

The analysis of the study that was conducted last October - more than 1,000 professionals in the United States are losing employees to rivals (68%) which is the main reason for the high turnover rate.

Employees are stepping down due to employee burnout (48%). Similar to this are younger workers quitting due to dissatisfaction with the traditional work arrangements (41%).

Additionally, 20% of employees prefer to retire, and another 20% would rather not get exposed to the COVID-19 virus (13%). Meanwhile, female workers have decided to resign to look after their families during the pandemic (19%).

So, how to retain their employees on board in light of these alarming statistics?

• Show Recognition and Appreciation to Employees

According to a recent study, one strategy that seems to be effective is to express to them how much you value and appreciate them.

When employees feel appreciated at work, they are 10 times more likely to firmly agree that they belong in a company, in line with the research of Gallup and Workhuman, based in Dublin and Framingham, Massachusetts.

Hence, according to Meisha-ann Martin, Senior Director of People Analytics and Research at Workhuman in Austin, Texas, "employees who lack a significant sense of belonging are 12 times more likely to be disconnected, and five times more likely to be searching for another job." Additionally, based on the poll, employees are up to 90% less likely to report feeling worn out or stressed at work.

In a nutshell, Meisha-ann Martin suggests utilizing employee recognition to boost well-being since it enhances employee performance and employee retention. Simply, it's a combined ROI.

• Promote Gift-Giving

As the holiday season approaches, corporate gift-giving is another strategy to keep employees satisfied and happy.

 As per the study, employee incentive programs may help organizations achieve outstanding outcomes like lower turnover rates, more productivity, and enhanced workplace cultures. Most businesses now include a strategic corporate giving program as a crucial component of their employee retention initiatives.

• Create a culture of Belongingness

Employees need to feel even more connected to the company, says Arianna Huffington, creator of the Huffington Post and Thrive Global, in addition to being recognized for their contribution. 

"Belonging is essential to cultures; when individuals don't feel like they belong at work, it harms both the organization and employees. The human toll comes first. Numerous negative impacts on one's physical and mental health are linked to encountering racism and prejudice, including increased stress, impaired cognitive function, melancholy, anxiety, and drug usage." She also refers to a recent McKinsey report on the reasons why employees leave their employment to illustrate the toll on organizations - first, they don't feel appreciated by their employer; second, they don't feel valued by their boss; and third, they're lacking a feeling of community at work.