31
Aug

Why your talent is leaving

WHY YOUR TALENT IS LEAVING

Are you constantly replacing employees who haven’t worked for your company for a length of time in the first place? Do you continually have vacant positions? It’s time to ask: Why YOUR TALENT IS LEAVING, is a great question.

Decidedly content employees stay in jobs and with companies, and don’t often pursue employment elsewhere.

Utilize this as a learning experience and implement some much-needed changes.

Fatigued from fighting attrition? High turnover rates can lead to decreased productivity, low employee morale and huge costs directly impacting your bottom line. It’s important to combat this issue immediately before it becomes an even bigger problem.

How to Retain Top Talent

Retain crucial team members by learning more about five perks your employees are looking for:

  1. Promotion Potential: Talented employees don’t want a stagnant dead-end job. If these people feel like they have no room to grow at your company, they’ll look elsewhere.
  2. Flexible Working Schedules: Being tied to a desk from eight-to-five is outdated. These days, people want to work for a company that offers flexibility. Allowing your employees the freedom to adjust their hours or work remotely has become a “must-have” for many top candidates.
  3. Appealing Benefits Package: Employees really value a comprehensive benefits package, including healthcare coverage, retirement savings and more. The more attractive your benefits package is, the better you’ll look in comparison to your competitors.
  4. Positive Work Environment: Is your office a pleasant place to work? No one wants to spend each day in a hostile or politicized environment, so expect people to take off in search of agreeable working conditions if your office is filled with a steady stream of negativity.
  5. Acknowledgement for Achievements: People like to feel appreciated. If you’re not recognizing your employees for a job well done, they may feel undervalued, unseen and unappreciated. The result is to look for work at a new company that appreciates their contributions.

Managers are under the wrong impression that when employees quit, that salary is the reason. Research proves this isn’t the case.

8 factors that determine whether an employee ultimately stays, or quits:

Employees want to:

  • Learn and grow in their jobs
  • Have flexibility in their hours
  • Do work that is challenging and meaningful
  • Valued team member
  • Work with good bosses
  • Work with good people
  • Recognition for their contributions
  • Be autonomous and feel in control of the work

Fair pay and benefits aren’t ranked in the top 8 even though important.

When it comes down to it, if the above job attributes are lacking, no amount of money will make up for the negative feelings you experience daily. When paid a fair salary but your other human needs are not meet, you tend to cite the famous line, “I don’t get paid enough to put up with this.”

What’s exciting about the above employee list of important work-satisfaction factors is that, while we have little control over their pay, we have a high degree of control over the factors employees say really matters to them.