A recent study by the
American Psychological Association (APA) suggests that businesses might have the most luck recruiting and retaining employees when they offer traditional benefits and promote a better work-life balance.
"Americans spend a majority of their waking hours at work and, as such, they want to have harmony between their job demands and the other parts of their lives," said David W. Ballard, head of APA's Psychologically Healthy Workplace Program. "To engage the workforce and remain competitive, it's no longer sufficient to focus solely on benefits."
The study found female workers were more likely to cite work-life balance as a primary reason for staying with an employer - 72 percent of those surveyed gave this answer, while 62 percent of male employees responded the same way. Six out of 10 female employees also pointed to their connections with organization as reasons for not leaving, but only 35 percent of men placed as much value on those relationships.
As companies start hiring initiatives, they should consider the factors that encourage employee retention, since it costs a lot to recruit and train new employees. As they look to fill their recruitment pipelines, human resources should keep in mind which tactics will encourage longer employee tenure.
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