High turnover rates can be stressful and financially draining on businesses. With record-low unemployment levels, it can be difficult to replace the talent that leaves your business. Not to forget, 76% of employees are actively looking for another job or open to one. It’s important to understand why your employees may be quitting.
Why They Leave and How To Keep Them
First and foremost, take time to understand why employees typically leave. This will help you better understand what you as a company can do better to make sure employees stick around. Here are some common reasons employees leave and ways to convince them to stay:
Managers are Demanding and Mean
Don’t allow managers and supervisors to create their own work environment that makes life miserable for those who work under them.
Start by hiring and focusing on those with a positive attitude and outlook. Attitude is difficult to change so get rid of people who aren’t positive and contribute to a toxic environment.
Bored With Tasks
Often times, the most talented working are inspired and motivated by challenge. If your top
talent is bored, give them some of the biggest challenges to solve and reward them with promotions and recognition. This will help keep top talent motivated, focused and invested.
Reached a Point of Burn Out
Even the top talent, who is motivated by challenge, can get too burnt out. If you’re noticing that your employees burn out quickly or are too stressed out, focus more on a positive work/life balance. This will not only decrease the number of burnouts but it can also increase productivity as your employees don’t feel as though they’re just going through the motions.
Not Paid Enough
This is obviously one of the most common reasons why employees leave their current employer. Negotiating the lowest possible wage a candidate will accept is not a successful negotiation. Paying your employees what their worth will go a long way in building trust, instilling loyalty and building a positive working environment.
Focusing on your workplace culture is one of the best ways to make sure employees are happy with their place of work. Focus on hiring people who bring a positive attitude to work day-in-day-out.
Challenge your employees who need a challenge, praise your employees who deserve praise and promote a healthy work/life balance. Building a healthy work environment not only encourages those who work in it to stay but it also increased productivity.