When you have a high turnover rate it’s really important to see what’s triggering your employees to leave and how you can fix that.
Here are 7 reasons your employees leave and how to fix them:
- Your employees are worked to the bone. They feel as though there aren’t enough hours in the week to do their jobs, and that leads to higher stress and burnouts. They often choose to join companies that understand the importance of work-life balance. The fix: take a proactive approach and make sure work is distributed evenly across your organisation. You can find out if they’re overworked by using anonymous pulse surveys or just asking them face-to-face. If they are overworked, it may be time to hire new employees or outsource some work.
- Your team members are treated differently. Favouritism and privileges lead to jealousy and anger… The fix: be aware of unconscious bias and make it a top priority to treat all of your employees the same. Take a look at your current policies to see whether they need to be improved in this retrospect.
- Employees want better benefits and financial incentives. Who wouldn’t like to make more money? If your organisation is hesitant to improve its employees' benefits and raises it shows a lack of caring about its employees and your team members will be constantly on the lookout for an escape. The fix: put it into perspective: it costs a lot more to replace an employee than to give raises and improve your benefits package. The benefits you offer reflect how much you value your employees. Salary transparency is also helpful in keeping your employees content.
- Your company culture is toxic. Workplace culture affects staff happiness, engagement and productivity directly. This amounts for 12% of loyalty towards the employer and is increasing every year. The fix: assess your employees’ happiness, an easy first step is to use pulse anonymous surveys to get feedback from your employees. Include open questions on what they would like to see a change in the future to proactively improve your workplace culture.
- Your employees hate their bosses. People quit their bosses, not their companies. If there’s a clear trend of employees under a certain manager leaving more than the others, the company, current situation or any other factor is probably not the cause. The fix: trust and transparency are the biggest influences on how your staff feels about their bosses. Do your due diligence and make sure to hire the right managers and keep tabs on their performance. Give them opportunities to upskill and improve their leadership skills.
- There aren’t enough career development opportunities. Most employees are ambitious and want to grow. They want opportunities to develop professionally, not just work for salaries. The fix: if you want to lower your employee turnover, you have to invest in your employees. A recent Linkedin study shows that 94% of employees would stay longer if the company invested in their career development. Offer adequate opportunities for growth, start a mentoring program, encourage your team to attend relevant conferences, invest in training and team building and make yourself available to listen to and support their professional goals.
- Your employees aren’t recognised for their hard work. This is one of the top reasons why employees leave a company as 2 in 3 employees report they don’t receive regular recognition. This goes for mostly female employees and if this is the case in your organisation, it can lead to a less diverse and more segregated workforce. The fix: show genuine appreciation and give credit where it’s due. Give your team the opportunity to encourage their team mates as well, so everyone is invested in the process. Peer-to-peer recognition is an easy way to make employees feel more valued, you can do this with a tool or allow team mates to give shout outs during meetings.
Here’s to teams who stick together!