If an employee walks into your office this morning, hands in their notice and announces that they’re heading off to travel the world and drink coffee, don’t be so quick to assume that they’ve lost the plot.

They might just be one of the lucky few people to have bagged a once-in-a-lifetime opportunity offered by American cold brew firm SToK.

Part publicity stunt, part clever marketing tactic, the Colorado-based company announced plans to give three people $30,000 so that they can take two four-week breaks from work and head out for a spot of globe-trotting.

En route, the chosen trio will be sharing their stories on social media and, naturally, promoting SToK products in the process.

To help them out, the brand has even created a rather tongue-in-cheek resignation letter which reads:

“I will be taking some time off and totally firing myself (but not really) from my job. Yes, I’m firing myself to go on a sponsored sabbatical. What a time to be alive.”

Still, even if you don’t receive that particular notice from one of your employees, there will likely come a time when you’re forced to have that conversation with a staff member about their decision to move on.

According to a report from job search platform Monster.com. some 52% of UK office workers want to quit their jobs.

Hopefully, they won’t all resign at once, as doing so could take a sizeable bite out of most business’ bottom line.

 

The Cost of Employee Turnover

Recent reports suggest that the average cost of replacing a departing staff member at an SMB is around £12,000, and even that may be a bit too optimistic.

Others suggest that employee turnover could cost a business anywhere between six months and two years of an employee’s salary.

Not that you necessarily need to panic just yet.

According to that same Monster.com report, some 79% of dissatisfied employees take up to two years to actually do anything about it, while some wait over four years before beginning their job search.

That gives businesses plenty of time to figure out exactly why staff members are thinking of moving on and taking steps to improve employee retention, a move which may end up significantly reducing the amount they need to spend on replacing staff.

 

Why Do People Quit Their Jobs?

Of course, some people quit their jobs for the most trivial of reasons.

Workers have been known to hand in their notice because their employers stopped providing free tea and coffee, or because they had their lunch stolen from the communal fridge.

Others, meanwhile, have much more serious reasons to consider changing jobs.

A study carried out by HR consultancy Robert Half International revealed that 39% of UK office workers would move to a new job if it meant they could enjoy a better work-life balance.

Not surprisingly, better pay also ranked highly, with 38% saying they would jump ship for higher remuneration, while better hours -closely linked with work-life balance- was a deciding factor for 29% of respondents.

 

Improving Work-Life Balance

If your business is looking to reduce the costs and complications of high employee turnover, then tackling the work-life balance issue may be the best place to start.

After all, while you may not be able to convince people to stay if they’re motivated purely by salary, those who are mainly concerned with quality of life may be more likely to stick around if you implement a few simple changes.

“Employers know that offering staff a good work-life balance leads to better performance and increased workplace happiness,” said Robert Half. “Supporting an employee who wants to strike a good work-life balance is a way for organisations to manage risk and is often encouraged.”

So, how can your business improve work-life balance?

Here’s a few suggestions.

• Switch to flexible working hours so that employees can take better care of existing commitments like the school-run or doctor appointments
• Allow for remote working and provide staff with the support they need to work effectively from home
• Redesign your office space so that people have a variety of environments to work from and can choose the one that best helps them feel both relaxed and productive.
• Invest in childcare facilities to support employees with young children
• Create a cycle-to-work scheme or other health initiatives.

 

Looking to make changes to your office to create the kind of environment your employees will love coming to work in? Planning to implement new features to improve the work-life balance of your team? Spaceway can help.

For over 40 years, we’ve been working with businesses like yours to design practical and stylish office spaces that make a significant improvement to employee well-being.

To find out how we can help you, call our in-house design team now on 0800 085 1022.