Even in a tough job market, employers are struggling to keep their key talent. In many cases, these key employees are lacking some of the benefits they have come to expect, such as merit increases, bonuses and work-life benefits, which is causing them to look for employment elsewhere, says Rose Stanley, work-life practice leader at WorldatWork, a nonprofit human resources association focused on compensation, benefits and work-life.

However, by creating an engaged workforce, employers can prevent voluntary turnover, and a large part of doing so is offering a flexible work environment.

"There are jobs out there even in this tight market, and those who are getting those jobs are the good employees," Stanley says. "The key-talent employees know they have more options than those who are less engaged."