High employee turnover is one of the biggest challenges most companies have to face in this new modern era. It is a scourge of many organisations as it is costly, time-consuming and can seriously damage the overall morale.
Employees come and go, there is nothing strange about it. However, once too many employees start leaving the company for some reason, this can cause serious problems, affect productivity and company growth.
From poor salaries and bad working conditions, to private issues and better offers, there is a wide range of employee turnover reasons. The best way to prevent this is to get to the core of the problem and do everything that’s in your power to come up with a solution.
To help you decrease your employee turnover and encourage them to stay in your company, we’ve compiled a list of most common reasons why your employees decide to leave:
Salary is not the only reason why your employees would like to stay and build their career in your company. If your people do not have opportunities for advancement they will also decide to walk away and find a new job. In general, employees want to be able to develop both professionally and personally and move up the company ladder. This will give them enough self-confidence and they will feel they are thriving in every possible way.
What to do about it: You need to focus on building a culture that will enable your employees to gain extensive knowledge, learn new skills and progress on all levels. On the other hand, this will bring immense value to your business as well.
One of the employee turnover reasons is a lack of recognition. You can’t expect your employees to be enthusiastic and motivated to do their best at work if you take their efforts for granted and don’t show them that you appreciate what they do. Your employees need to feel that their work is recognised so that they would know they are moving in the right direction.
What to do about it: Create a recognition program which would allow you to sincerely and genuinely express positive thoughts and give a few words of praise to your top-performing employees. From a simple thank you note and spontaneous treats to bonuses and special awards, there is a variety of ways you can show your appreciation. Plus, this allows your colleagues to recognise one another, so everyone is invested in the process.
Another common reason why even the best employees decide to leave at some point is a toxic environment. Nobody likes to work in the company culture that sabotages morale, scares away new talent, and actively drives away its people. Even your highest-paid employees will run away if they feel that their stress level is increasing and their health is jeopardised.
What to do about it: If you see that your employees have frequent mood swings and seem to be going through the motions, you can use a simple happiness survey tool like Heartcount to find out how they feel and what they think in real time. In this way, you will gather valuable information you can then use to make decisions and act on the results. By having an insight into your employees’ level of happiness at work you will be able to make positive changes and ultimately decrease your employee turnover.
To learn more about how Heartcount can help you retain your employees and build a culture of happy and engaged people, feel free to reach us out.
So, now that you know the most common employee turnover reasons, you need to make your move.
Creating a thriving culture with low employee turnover is not an easy task. However, by following these tips, you will make a first step towards creating a happy environment.
Heartcount is an AI powered tool, which measures happiness at work in a new and better way. It is a tool for tracking results and relationships (personal fulfilment, progress, relationships with colleagues and managers) that influence happiness at work.