4 Reasons Your Employees Are Quitting
It’s common to hear business managers complaining about their best employees leaving. People are your company’s greatest resource- they’re the ones driving the business. An organization’s leadership should, therefore, pay the necessary attention towards attracting the right skill sets and retaining them by ensuring their happiness.
High employee turnovers can be quite disruptive and costly to your company. For instance, replacing an employee earning a salary of $60K could cost the business about $30K-$45K. It’s easier for managers to blame these turnovers on random excuses instead embracing the truth of the matter: employees don’t quit jobs, they quit managers.
In 2012, the Harvard University carried out a study on employee turnover. The findings were quite alarming with over 80% of employee turnovers
stemming from the mistakes done during the hiring process.
Here are some of the common mistakes we see in working with our customers. They’re common mistakes you could be making, as well, and they are errors that drive good employees from companies.
- Poor Employee Engagement
Tap into your employees’ perspectives to improve retention, increase productivity, and reduce acquisition expenses. You will be amazed by the kind of stuff your employees will share if given time and a voice. Employee engagement will help you to continuously revamp your recruitment process and messaging, in addition to identifying other work environment problems management may not be aware of.
- You Don’t Recognize Performance and Reward Good Work
Sometimes it can be easy for managers to underestimate the power of appreciation
, especially with regards to top achievers who are self-motivated. Every employee likes to be recognized for work well done. A closer communication with your employees will give you a clearer expectation from their side and will motivate them to strive to achieve more.
- You Hire and Promote the Wrong Employees
Good, hard-working employees prefer working and associating with like-minded professionals. When managers fail to identify the right people at the hiring stage, the incoming clueless staff demoralizes the good employees and slows down their overall performance. Promoting the wrong people insults the commitment and dedication of the good employees that may prompt them to walk away in protest. Take a look at the individuals you are interviewing and hiring, and make sure they fit the culture levels that exist within your organization.
- You Don’t Allow Employees to Pursue Their Passions
One of the benefits of having talented employees are that they are passionate, curious, and always seeking to expand their knowledge base. It’s paramount to allow them to pursue their passions. After all, they can handle it. You will be surprised by the levels of productivity and job satisfactions they drive from that. Studies have indicated that employees who pursue their passions at the workplace experience “flow,” a euphoric state of mind
which provides five times more productivity than the normal state.
Good employees have critical success skills that enable them to choose how long they should stay in a company. They know their expectations at work, hopes on how to make a difference, and vision on how the firm should be run. It’s important for the organization to understand such expectations and strive to align them with the company’s missions and goals.