What to do when employees relocate at the end of the year?
Covid-19 starts to subside is when businesses hope for a stable HR picture at the end of 2020, but some still fear that last-3-month prospect may not be optimistic. According to Talentnet-Mercer report, in the 6-month-period of 2020, turnover rate at dosmetic businesses is 9.5% while it is 7.5% for MNCs. But Talentnet forecasts that the turnover rate will reach 19% for dosmetic businesses at the end of the year.
The reasons are that many businesses are still reserved in their remuneration strategy, or when the market are rehibilitating, workforce are receiving better offer from competitors.
The solutions for businesses are:
- Understanding the needs of employees and what problems they are facing
- Reward employees on the spot for their contribution
- Host recreational and sharing events for employees
Source: Dau Tu