Working in Monroe County, does the average person stay long term?June 17, 2014 / byMaria Garcia / Categories : Blog
The average turnover level is approximately 25% for management staff and around 50% for other types of jobs. According to employers, turnover from employees resigning to join another employer located in Monroe County is most often due to the competitor offering a better salary and benefits. Check out this chart showing the turnover within the Keys.
Now, does the average person stay long term? The answer is no, and here’s why. The cost of housing is the number one reason people do not stick around. 4 out of every 5 employees who have resigned their position to move away have done so because of the cost of housing. Most employees remain with their employers for one to two years. Professional/Office and Manager/Supervisor employees have a higher than average longevity of 3 to 5 years. Here are other reasons that made the list for why employees relocate.
A study was done where workers were asked what the top five factors influencing them to relocate were. The number one reason was “the cost of my rent”. Not far behind were, “availability of lower cost housing elsewhere”, “I can not afford to purchase a home”, “the cost of owning my home” and “the stress of hurricane season”. There are a lot of other factors as well, check out their responses below:
The study then asked the workers planning to relocate, what factors could influence them to remain in the keys. The top responses were “the ability to purchase market rate housing”, “participate in workforce/affordable housing programs and “achieve higher pay or receive a promotion”. The table below lists more responses.
Workers who had no intent on leaving the Keys were asked what factors could reverse their decision and influence them to leave the Keys. They were asked to answer this question in the context of what factors could cause them to leave sooner than planned. Here is what they said:
For businesses in the Keys- only slightly less than half of tourism businesses are not adequately staffed and or satisfied with their overall level of employee retention. About half have experienced persistent vacancies in their customer service/ front-line positions and operational positions. There are an estimated over 1,030 vacant tourism jobs. Restaurants most often reported vacant positions (65%), followed by water attractions/activities (58%), and lodging (55%). The position with the most vacancies is server, followed by a driver, housekeeper, front desk and sales associates. Over 84% of vacancies reported were for full time employment. The remainder were seasonal/ temporary employment.
Some companies have been giving out housing allowances, or wage increases to help offset the high cost of housing in the Keys. What else could employers do to try to retain their employees? Leave your comment below to discuss!