Using travel perks to boost employee retention

Fail to address low?employee retention?rates, and your business won’t succeed.?

Many people had the opportunity to reconsider their relationship with work during the pandemic. And employers are now having to adapt to the new needs of employees.?

One key change is the desire for hybrid working. While a hybrid approach has proven to make employees happier and more productive, it’s been met with resistance from some employers — one reason why?employee retention?rates are on a downward spiral.?

If you want your teams in the office (at least some of the time), then you need to address long, uncomfortable commutes —?and that’s where this article will help .

Fail to invest in your team, and they’ll move on

Since 2021, employees worldwide have been quitting their jobs in favour of opportunities that better suit their needs.?

Such is the scale of this mass exit that it’s been named?The Great Resignation?(or?The Great Reshuffle). And it shows no sign of slowing down, as?one in five workers ?chose to leave their job in 2021.

It’s worth making clear that these employees aren’t quitting their jobs hoping that something better will come along — they’re finding more desirable alternatives to their current roles then moving on.

Reasons for this point back to the pandemic when employees had a chance to consider their employer’s response:

• How they kept employees safe during the pandemic;
• If they expected employees back in the office at the earliest opportunity;
• Whether they have an ongoing commitment to supporting a healthy work-life balance.

This final point was crucial for many. Before the pandemic, travelling to and from the workplace was rarely questioned. Then,?40% of Europeans ?and?36% of Africans ?started working from home, and people saw the value in getting back that lost commuting time.?

Not spending that time behind the wheel of a car is an opportunity for your team to make the most of early morning productivity, be with family, and get more rest.?Being an employer that supports this work-life balance is one of the best strategies to boost employee retention.

Finding the right employee retention strategies for your team

You won’t see an improvement in staff retention unless you collect and act on feedback from your team. Some common wishes include:?

• A higher salary;
• Better working conditions;
• Opportunities to develop.

But the favoured employment benefits of workers are ever-changing. And since the pandemic, one key draw for hiring and retaining top talent comes up time and time again: hybrid working.

Understandably, employers want to see their team in the office, at least some of the time. But failing to adapt to this new way of working will see team members moving on.

One reason why many people prefer hybrid working is due to the commute. For most people, commuting is seen as wasted time, and?23% of people ?have left their job due to a bad commute.?

But this is a problem with a simple resolution —?making the commute more comfortable for your team. Addressing this will help get employees back in the office and boost staff retention — as?La Gelateria Romana?found out.?

Employee retention in action

When several employees at Gelateria?La Romana?wanted to move on, the employers decided to ask why. By doing so, they found that many staff members were making long, uncomfortable commutes.

Rather than accepting employee turnover as a part of business,?La Romana?took action ?by giving their team a more reliable, convenient, and safe way to travel to and from work.?And now, their employee retention rate is at an all-time high.

Without the foresight to address why employees wanted to leave,?La Romana?would have faced an employee turnover crisis — something many companies have been dealing with in recent years.?

Start using travel perks to boost?employee retention

Leading businesses are already addressing travel as a way of retaining employees, as Nick Powell, Vice President of Bolt Business, has seen: “Giving employees an incentive to travel to the office is a super smart way to boost?employee retention?and engagement. Smart businesses have recognised this and are adopting travel perks to get their employees back to the office.”

People love to drive — why else would there be 1.4 billion cars on the road? But driving in rush hour means sitting in traffic. After seeing how this time can be better invested — on a personal and professional level — few people want to lose that time again.?

Giving your team the perk of travelling to work in a Bolt car or on an electric scooter can boost?employee retention, reduce stress, and increase productivity.