According to the U.S. Department of Labor and Statistics, turnover can cost an organization 33 percent of an average employee’s total compensation, including salary and benefits. But the impact of losing your best workers is not just financial; it also can strike devastating blows to morale, productivity and your employment brand.
The best way to retain good employees is to stay in touch with them – and to understand the leading reasons why people quit their jobs. These include:
More than half of people who leave jobs do so because of poor relationships with their boss. Make strong interpersonal skills a must for every manager you hire, and provide training for those who may be lacking in this area.
- Be sure managers know how to balance being professional with being human. This means celebrating individual and team successes, empathizing with those going through hard times and challenging people to be better. It’s impossible to work for someone every day, when they aren’t personally involved or don’t care about anything beyond your production yield.
Lack of Autonomy
Foster a culture of empowerment, where employees own, execute and are accountable for their responsibilities. Allow people the freedom to make suggestions and decisions, and give them latitude to do their best work.
- There’s no room for micromanagement. Managers need to place trust in their employees, and vice versa. Micromanagement results in a loss of trust and ultimately, good people walking out the door, so they can find it elsewhere.
It’s human nature to seek praise for a job well done. Recognition is about not only communicating your appreciation, but also reinforcing the actions and behaviors that make a positive difference to your organization.
- Communicate to find out what makes an employee feel appreciated. Some people need public acknowledgment, while others are more than happy with a simple, low-key message of thanks. What’s critical is that recognition is meaningful, personal, sincere and consistent.
People want to be challenged and fulfilled at work. Help employees find their passions. Keep them engaged and excited to contribute, create and perform.
- Make it worth their while. Especially among millennials, work/life balance is non-negotiable. People need to find meaning in their work and in the overall mission of your company. The average employee spends more than a third of their time at work. That’s way too much time to be bored or unsatisfied.
Let our team at Frontline Source Group help build your team!
With clients across North America, we know your business, your market and what it takes to win today’s talent war. Contact us so we can tell you more.