What employees want

We have heard a lot about the Great Resignation; well, I just learned that all those people who are quitting their jobs are not happy. Johnny Taylor, the president and CEO of the Society for Human Resource Management, declared recently that 72 percent of those folks regret their decision..Taylor said some are going back to their original employer to ask for their job back. He encourages employers to be open to taking a person back, assuming they left on good terms. In some cases, people left for higher-paying jobs. Taylor warned bankers to offer the person their old salary. "Don't match the competitor because that will send a signal that the way to get a big raise at your bank is to quit for a higher paying job and return," he said. .While there is a lot of talk about remote work, Taylor said what employees really want is flexibility; for some that means remote work, but not everyone. Some might just want to shift their working hours. Furthermore, he said employers used to often talk about perks like free food, gym memberships or discounts on drycleaning, but Taylor said most people really just want money. They'll buy their own perks, whatever they may be. Another trend: More than job security, most younger employees want career development. This usually means offering things like training, professional development and education. .Taylor shared the six "hottest" benefits offered by SHRM members to keep employees. (Keep in mind that right now there are two jobs open for every available worker.) No. 1 is student loan repayment. The CARES Act makes this a realistic benefit for companies, exempting the first $5,250 from employment tax. No. 2 is open leave, which essentially means allowing the employee to come and go as they please, as long as the work gets done. No. 3 is pet insurance (this assumes you already offer health insurance for humans). No. 4 is workflex, which means things like job sharing, remote work, and flexible start and stop times. No. 5 is bonuses, both on the spot and annually. No. 6 is tuition reimbursement, which is a nice complement to student loan repayment since not everyone has student debt. .Adding my own thought, let me share that I think all those things will be more effective if your bank communicates a strong sense of mission, something that makes employees feel like they are part of something much bigger than themselves.