To reduce turnover, higher ed institutions must have a clear understanding of what employees want in exchange for the work they do.
Summary
As with many sectors in the post-pandemic economy, higher ed continues to face a difficult retention environment. Sixteen percent of full-time higher ed employees are at risk for turnover within the next two years. Among staff and professional employees, 19% are at risk of turnover. To help higher ed institutions retain valued talent, this report identifies what their employees value most in a job and how different segments of the workforce prioritize job features and employee benefits.
Key Insights
- While higher ed employees’ priorities vary greatly depending on role and age, salary and benefits are most often rated among their three most important features in a job, but only by 44% and 40% of employees, respectively.
- Higher ed employees most often rate a retirement savings plan (58%), health insurance (56%) and paid time off (47%) among the three benefits most important to them in a job.
- 37% of higher ed employees who pose a turnover risk within the next two years cite workplace culture among their three most important job features, compared with 24% of those not at risk.
- Those posing a turnover risk also more often rate salary among their three most important job features (56% versus 42%) and health insurance, PTO, and a retirement savings plan among their three most important employee benefits.
