Research has shown that happiness is the top factor motivating employees’ decisions – and is ultimately the deciding factor as to whether they decide to stay in their current job or leave. Those employees that feel happy are more likely to feel engaged with their employer and therefore stay in their current job. They’ll be more motivated and therefore more productive. If your business is experiencing a faster than usual turnaround of employees, it might be time to rethink your retention strategy. In this post, we look at the top reasons why you might be losing your best employees.
1. Managerial Problems
30% of job seekers state that they’re looking to move jobs because of their relationship with their boss. From lack of leadership to micromanagement, poor management can be the biggest cause of high staff turnover. A bad manager can kill a productive and collaborative environment. Make sure that you vet and train your leaders thoroughly, and ensure their management style fits with your company culture and goals.
2. Company Culture
Your full-time staff are likely to spend as much, if not more, time at work as they do at home, so the culture and ‘feel’ of the place is important. If your staff don’t feel as though they fit in, they’re likely to leave. But how do you combat this? Be honest from the outset - let your prospective and new team members know exactly what your company culture and goals are from the outset.
Worried about nurturing your company culture in a pandemic? Click for ideas on how to this virtually.
Stress can have a hugely negative impact on your health. And work is a leading cause of stress, with top stressors including being unhappy in your job, having too heavy a workload, working long hours and pressure to meet high expectations. As an employer, it’s vital you make work-life balance a priority and to ensure that employees have a forum to voice their concerns freely. If you feel stress and anxiety building, book a wellness treatment through our portal today.
Click to find out more about digital mental health training and why everyone needs it!
4. Lack of Opportunities for Progression
If there’s no opportunity for your employees to progress, there’s only one place they’re heading - the door. As employees pick up skills, experience and become specialised, they tend to seek out opportunities to be promoted into senior or leadership roles. Companies that have strong internal promotion structures tend to lead to stronger teams and happier employees.
We hope that you’ve found this post on ‘Why You Might Be Losing Your Top Employees’ useful. If you’re finding that your company is losing your top performers, it’s time to review your retention strategy. Make sure your staff feel fulfilled at work, and you’ll have a happier, motivated, more productive team.
to find out how we can help you to improve your staff retention rates.