Lunch & Learn Event to Focus on Employee Retention
SPRINGFIELD — Some 43 million Americans have $1.3 trillion in student loans. The average job tenure for Millennials is only 12 to 15 months. When an employee leaves, it costs the employer between 10% and 30% of their annual salary to replace them.
On June 22, the Gaudreau Group and GradFin will host a Lunch & Learn session at the Hilton Garden Inn in downtown Springfield to help employers overcome these issues. The session is sponsored by the Employers Assoc. of the NorthEast.
College graduates enter the workforce deeply mired in debt that deflates their net worth and keeps them cash-strapped for years. As a result, younger employees are job-hopping to increase pay and help pay down their loans. A recent Oliver Wyman study reported that 80% of participants cited their indebtedness as a major source of stress, and a survey by American Student Assistance found that student-loan debt impairs employees’ focus on the job.
The June 22 event, led by Jenny MacKay and Geoff Urquhart, will focus on increasing employee retention with new employee-benefits and engagement strategies such as loan refinance and consolidation programs, financial-wellness education, and repayment-assistance benefits. Space is limited. Register at www.gaudreaugroup.com/events.