The Tipping Point: Will Talent Stay or Will They Go
Using Your Space to Engage Employees to Create a Long-Term Relationship
It’s safe to say that every company has a goal to attract and retain the best and brightest talent. Competition is fierce, with the length of time people are staying at jobs decreasing and new businesses entering the state every day. How do companies set themselves apart in this aggressive market to attract the skilled and educated talent pool flooding into Colorado, and give their employees incentive to stay? What would make a recruit choose one company over another that offers the same salary and benefits? In recent years, we have increasingly seen HR professionals come to the architectural design table to influence how their space and amenities can act as differentiators for their organization, with the ultimate goal of engaging employees to build the basis for a long-term relationship.
Attracting, engaging and retaining employees not only contributes to a thriving work culture, but it’s also cost-effective. The Society for Human Resources Management (SHRM) reports that twenty years ago, entry-level workers stayed on the job an average of five years. This duration has now decreased to just two years, with the cost of replacing an entry-level worker averaging $20,000, not including the impact of the knowledge loss on the organization. Given those statistics, an investment in a workplace environment can really be an investment in employee attraction, engagement and retention. It will cost far less money in the long run to create a compelling atmosphere that demonstrates consideration and care for employees, fostering long-term relationships, than spending money replacing and training new staff–not to mention the effects on company culture and morale.