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Why Well-Being Protocols Are Crucial For Job Longevity

Dr. Marta Ra is a sustainability, health & well-being expert. She co-founded the international network Women in Sustainable Finance (WISF).

At a historic 57.3%, 2020 saw employee turnover rates reach monumental heights in the U.S. Unfortunately, rates have only continued to increase in the post-pandemic world. As of August 2022, more than 4 million Americans left their jobs. With only slightly less dramatic rates, the Great Resignation has also taken Europe and the United Kingdom by storm.

It goes without saying that a high turnover rate can negatively impact a company. Not only does it hurt image and morale, but it also costs a fortune. For example, studies show that when you factor in productivity costs, such as lost knowledge or time spent on finding and training a replacement, it can cost employers an average of 33% of an employee’s yearly salary for their exit. In contrast, Gallup research shows that organizations with strong retention rates and highly engaged employees have 21% increased profitability.

Understanding High Turnover Rates

Although low pay inevitably comes into it, it is not the only factor. In fact, it is not even the most important factor. A recent TalentLMS and BambooHR survey found that "82% of Generation-Z employees find it important to have mental health days while half want mental health training." In another survey, 58% of Millennials and 53% of Gen-Xers see improved quality of work-life as more important than financial benefits. In that same survey, the only generation to prefer financial benefits were Baby Boomers (52%)—many of whom are reaching retirement and thus are no longer even in the workplace.

Based on my experience as a sustainability and well-being consultant, I believe that if companies want to improve job longevity, they need to focus on growth, meaning and health in 2023.

Defining Job Longevity

Longevity is one of those terms that has a different definition depending on the context you use it in. In the corporate world, job longevity refers to the time you remain in one job. In sustainability, longevity typically refers to a product or service’s durability. However, in health and well-being, longevity is defined as the individual’s ability to reach a longer life span under ideal conditions. If you want to improve retention rates, I recommend using a combination of these definitions to find the best retention solutions. For instance, you may want to ask yourself, "How we can create job positions that are more durable for the employee?" or "What can we change about the working environment so that it could be considered 'ideal conditions?'"

In my experience, the answer is almost always rooted in two well-being-related issues. First, job longevity is cut short by toxic attributes such as a non-inclusive, cut-throat, stress-ridden or disrespectful environment. Second, people leave the workplace when they feel stagnant, lack a clear purpose or feel isolated.

Well-Being Essentials To Improve Job Longevity

1. Focus on safety.

People cannot be productive if they feel physically or psychologically unsafe. While physical safety is self-evident, psychological safety is the assurance that you won’t be punished for sharing your ideas, concerns and questions in the workplace. Companies need both to thrive.

Studies show that companies that drive psychological safety see productivity, profits and employee retention rates increase. On the other hand, one survey found that "employees that don’t feel comfortable giving upward feedback are 16% less likely to stay at their companies."

To address psychological safety concerns in your workplace, prioritise well-being. For instance, ensure your employees are not losing rest due to work-related stress. Long work hours are highly correlated with anxiety and depression. Exhaustion will also diminish productivity, and you will see burnout rates soar.

Further, make schedules as flexible and predictable as possible, and respect boundaries between work and non-work time. It is crucial to have a clearly articulated zero-tolerance policy toward discrimination.

2. Consider the skyscraper.

When thinking about durability, little comes close to the skyscraper. These buildings are, out of necessity, designed to be so long-lasting that they typically take years of construction. Many can survive earthquakes, tornadoes, tsunamis and other natural disasters. We are more likely to renovate a skyscraper than knock it down entirely, and they often become a quintessential part of a city’s image and identity.

Try to imagine your company as a city and your employees as skyscrapers. How would you ensure their job is long-lasting and can survive the low periods? How can you continue to renovate their position rather than knocking it down?

LinkedIn’s 2019 Workforce Learning Report found that 94% of surveyed employees would stay longer in a position if their company invested in helping them learn. You can do this by creating clear pathways for career advancement and focusing on quality training and education.

3. Create a sense of community.

According to a 2021 study by Deloitte, creating a sense of community in the workplace can even lead to a 50% reduction in turnover risk, a 56% increase in job performance and a 75% decrease in sick days. Creating a community is vital for job longevity because it helps your employees feel like their workplace is a place where they can be their authentic selves. With that in place, you should see a sense of purpose and meaning emerge.

If you need to improve connection in your workplace, focus on creating a culture of gratitude and recognition. Also, remember that the leader sets the tone of the company. So, if you are willing to talk about your vulnerabilities and past experiences (aka all those elements of our story that help us bond with others), it should encourage your team to follow suit.

In conclusion, much like all longevity-related projects, the crux lies in focusing on the long term. It will take time—often more than a year—to effectively implement a well-being plan that curtails low retention rates. But reframing your approach to your employees and seeing them through a longevity lens is already a significant step in the right direction.


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