Bonus season is upon us! Well, at least for some segments of the workforce. Factors such as length of employment and fiscally meaningful contributions can all contribute to bonuses gained from a company.
If you worry about an annual bonus, you’re not alone. In fact, employers cutting the checks are beginning to have annual anxiety each bonus cycle thanks to a fear of employees exiting the company. As a result, many corporations are analyzing the trends that lead to an annual exit of employees. So much so, in fact, bosses may know employees are quitting before they know themselves.
Utilizing big data to assess employee turnover has uncovered an often overlooked, until recently, relationship between employee satisfaction and their length of service.
The hourly workforce, a labor segment we analyzed recently in the Profile of the Hourly Worker, has revealed some interesting findings related to the length of employment and worker satisfaction. There’s a strong correlation between extremely satisfied employees and their length of employment.
The chart below showcases a steady increase in satisfaction the longer one remains with their company, as satisfaction annually increases each year of employment beyond 1 year.
The trend between satisfaction and employment also suggests employers are at risk of seeing turnover in tenure 2 years or shorter. How does this happen?
After the onboarding process, employers often fail to connect and communicate with hourly workers in a direct manner that will positively impact retention rates. With Red e App, you can optimize employee accessibility and connect your company’s communication in one efficient app.
Genuine communication can enhance employee satisfaction, which in turn increases retention and company revenue. Bye-bye bonus season anxiety, hello happy hourly workers.