Employee retention: 10 reasons why your best talents are leaving you
Retaining employees is one of the biggest challenges facing businesses. And this is likely to be more and more accentuated with the phenomenon of the great resignation .
People are the greatest asset of an organization. A high turnover rate is a costly problem for any business. Between posting the job offer, recruiting costs, the time it takes to train a new member of staff to full working capacity, and the loss of productivity in between, the bill quickly adds up!
We also know that if the best and the brightest leave the company, the damage can go beyond a mere recruiting bill.
Want to know why they quit?
Read on to find out the top 10 reasons!
A weak corporate culture
According to Gallup, culture is defined as a pervasive force that influences how people work together, how decisions are made, and what behaviors are recognized and rewarded.
Culture therefore establishes standards that we want to see and encourage on a daily basis and at all levels of the organization. An inappropriate corporate culture risks encouraging toxic or unprofessional behaviors, which sooner or later will cause your best employees to start looking elsewhere!
A weak integration strategy
The first impression counts as much for the recruiting company as for the person who has just been hired. Making your employees want to stay starts from day one. A poorly structured onboarding from the start can have people thinking about exiting in the months following their hire, and there’s no shortage of opportunities right now!
A lack of recognition programs
According to a Glassdoor study, 53% of employees say they would stay with a company longer if they felt valued. A recognized employee is a happy, engaged and loyal employee. And that’s not all! When a recognition program is linked to company values, it is the positive behaviors that are encouraged and adopted by employees. If you don’t have a recognition program yet, what are you waiting for?
An outdated or failing management style
We all know someone who joined a company, but left because of the manager (or could it be you?). Even with goals achieved, a bad manager has medium- and long-term destructive effects on employees. The role of the organization in all this? Ensure that the management style of its managers is in perfect harmony with its values, its objectives for employee engagement and retention. According to a study by GoodHire , 82% said they would consider quitting their job because of a bad manager.
A lack of respect and trust
Yet it is so simple, if the employee does not feel respected or trusted, he will leave. Whether they are impressions of lack of respect on the part of the manager or colleagues, it is the accumulation of several negative feelings that can push the employee to look elsewhere. This feeling can be perceived by the way in which they are spoken to or the way in which feedback and evaluations are given. Employees who are micro-managed by their managers may also feel like they are not up to receiving the trust to perform their tasks.
A lack of flexibility
Do you scrutinize the number of hours worked by employees or do you pay more attention to the results and the impact they bring? Offering flexibility to your employees allows them to achieve a better balance between their professional and personal responsibilities. The result? Happier employees and better morale for everyone!
Not celebrating your employees
Some employees work in your organization for several years and relentlessly bring value every day, while some leave in search of better opportunities. It is therefore more than necessary to value the loyalty of your employees by celebrating them at each stage of their career in the company, and not just every 5 years! And by the way, if you’re still giving everyone the same gift, it’s time to start giving gifts of choice!
Neglected employee mental health
According to Gallup , workers who feel their well-being and mental health matter to the organization are 69% less likely to be looking for a new job, are 71% less likely to experience burnout, are five times more likely to strongly defend their business as a workplace and three times more likely to be engaged at work. Listening to employees, setting up days or half-days without meetings or even offering them well-being days, are all examples that prove to your employees that their well-being really matters to the company.
A lack of opportunity for growth and advancement
Even in the smallest companies, employees must have the opportunity to grow and develop. It can be difficult for many to be stuck in the same position for a long time. Regardless of their efforts or successes, these employees do not have the opportunity to advance to better paid and more demanding positions. And this is even more accentuated when it is a less qualified or less competent colleague who benefits from this advancement.
Do not encourage team spirit
It goes without saying that sharing close relationships with colleagues makes work more enjoyable and rewarding. And while many factors influence employee retention, relationships with co-workers matter a lot. In addition, employees want to receive feedback from their colleagues when they have done a good job because it promotes employee satisfaction and retention. Using a peer-to-peer recognition tool will help you achieve your loyalty goals, and above all, no good move will now go unnoticed!
There are so many reasons an employee might quit. The most important thing is to be aware of these situations and make sure to put in place ways to control the situation. Provide an environment that lets employees know they are truly valued.