Employee turnover can prove to be one of the most lethal setbacks for any company. When good employees leave, productivity sinks, colleagues struggle, financial losses occur to find a replacement, additional workload on teammates, and many other problems.
The best way to increase employee retention is by having a proper employee retention plan; you need to understand why your employees are leaving and make a structural assessment from the feedback you get from the employees.
Employees might also leave jobs because they want to shift careers, influenced by friends, higher studies, and many more things. These are inevitable because they are not concerned with the company, but most employees leave because there are internal issues within the organization.
So, in the early stages of these problems, the HR team and managers take it seriously to avoid employee turnover. To rectify the situation, let’s understand why it arises in the first place.
1. Relationship With Managers
Rude behavior of higher authorities and managers whenever they feel that an employee is not giving their best, personal prejudice and hierarchy, etc., are key issues.
Playing favorites, back-biting, toxic feedback are among the top reasons that can aggravate employee turnover. Workers these days expect more than just a paycheck. They want to be respected by their senior employees.
Identify people who display discrimination and hierarchy, try to warn them never to repeat those. If a manager is not happy with the employee’s performance, check the problem and try to rectify it before it goes out of hand. Ask the employees and managers to put their concerns in the complaint box.
2. They Are Not Engaged
Many employees do the tasks assigned to them and leave as soon as they finish. Very few people take ownership and responsibility for the whole project they are involved in. Most of them are not cognitively and emotionally engaged with their work. You can detect the employee’s interest when assigned minute tasks and how efficiently they do those.
Assessing the reasons for employees’ disengagement should be done individually rather than compared with peers. Team vacations, More interactive sessions, and appreciation of the work can boost the employees.
3. Not Enough Growth Opportunities
Employees always think about the future and the growth opportunities in the company. When trained in new skills, that can boost their career growth and help them propel in their job. They are likely to stick to the company.
Workramp is a platform that is an all-in-one LMS that delivers a fantastic learning experience to your employees. Using tools like Workrmap, you can delight your employees with a tremendous growth opportunity without breaking the bank.
4. Fewer Increments
Every employee expects rewards and promotions for their time and effort with a decent hike. But the problem is when the hike is way less than promised before. Why would an employee work for less pay when they can get more salary when they try switching the company.
Organizations may not be equipped to offer a high package but should provide a competitive salary and benefits that make employees feel valued.
5. Excess Working Hours
Employees look for work-life balance and flexible working hours. Also, this is one of the critical parameters for employee retention. Many people consider quitting the job if they don’t find flexible working hours. Remote working when they don’t feel like turning up to the office is one thing employees request.
To avoid these problems, try to increase the productivity of the work and take updates frequently on the work to avoid extra working hours, offer incentives for additional working hours if needed.
There are several reasons for employee turnover. The organization needs to find the motivation and develop a solution as finding the replacement for good talent can cost a lot.