Any organization can function only because of its employees. Employees are the backbone of any company and good employees serve as a pillar of strength for the organizations. Not a single organization could afford to lose good and hard-working employees.
In the life span of a company, many employees join and leave, and this is a constant process. The problem arises when you realize that the number of employees leaving is increasing. No company would want good employees to leave but often struggle to keep them. Sometimes it is better to let an employee go but sometimes it can cost you and you can get laid-back on many fronts.Why do employees leave?
While leaving an organization is a personal decision of an employee but there are many factors working behind this decision. Some are personal whereas others may be working against your organization. You need to access the real reason behind employee resignations. Listed below might be some factors working against your organization, making even your high-performing employees leave you:
- Micromanaging the work of employees
- Lack of development opportunities
- Questioning their work & efforts frequently
- Not giving them proper credits for their work
- Not offering challenging tasks
- Not welcoming their suggestions
- Ignoring their personal goals
- Lack of performance feedback
- Lack of incentives, monetary or non-monetary
The HR of any company is responsible to manage the employees and plays a crucial role in workforce management. A good HR is always concerned about retaining the employees who deliver high performance. Employee retention is very crucial for an organization. Losing an efficient employee proves to be costly to the bottom line and gives birth to multiple issues like:
- Insecurity among co-workers
- Increased workload on current employees
- Increased effort and time consumption in recruiting, hiring and training new employees
According to various studies and surveys, it has been figured out that for any company, losing a middle level manager means losing 100% of their salary and losing any senior level employee costs even more. The reason for the same is the increased revenue and the expenditure incurring for training and development of new employees.
Conducting exit interviews can provide insight on reasons that make employees leave your organization and you can use this information to retain your existing staff. These interviews also reveal the environment of your company and how do employees feel about it.
Practicing stay interviews can help you analyze that why employees prefer staying in your organization. This will assist in maintaining a good cultural and work environment in your organization making the employees stay with you.Here are a few factors that if present in organization, will help employee retention:
- Make the organizational expectations clear: Your employees should be aware of what the organization expects from them. They should also know what their core responsibilities are and what is expected out of them, both performance and attitude-wise. Fluctuating or changing expectations leads to stress in employees. So, a proper framework should be present through which employees are informed of their expected professional behavior.
- Freedom of expression to employees: The work culture or the environment of the organization should be such that the employees feel free to raise their opinion about something and their insights are welcomed. Create a space where they can easily provide with feedback. This gives employees a feeling of belongingness.
- Practice unbiased treatment: Make sure to treat your employees equal irrespective of any natural differences like gender, post, etc. Fair and just treatment are not only good ethical practices for any business, it also counts for an essential part when it comes to perception of employees about the company. If employees are not treated fairly and they face discrimination, they would want to leave.
- Have quality supervision: Employees tend to leave an organization due to poor quality of supervision and management. An employee might complain of certain things sch as lack of clarity in earning potential, making unclear statements about expectations, not handing over a structured framework, etc.
- Trust the skills and expertise of employees: It is very important to put your trust in your employees. This gives them strength and keeps them motivated to deliver high-end performances. Rather than micro-managing the tasks of the employees, give them the freedom to use their skills to accomplish the given task. Get to know your employee better and rather than criticizing, observe and appreciate their style of working.
- Money matters: Everyone out there is working for money, so salary is a part that cannot be ignored. Your competitor might steal your valuable resource just on this basis. So, hikes, increments an incentive are equally important. Practice just remuneration.
- Don't ignore the training part: Sometimes employees fail to deliver the desired or expected performance. Instead of criticizing, ask them the reason for substandard performance and invest wisely on trainings, workshops or seminar, etc. This provides employee to learn new things and enhance their skills, thus preventing the walk-away of the employees.
- Provide employees with new opportunities: An ideal employee would always like to learn new things and grow. If employees are given new tasks, challenging tasks and roles and opportunities to attend conferences and seminars, etc., they will grow and will not only profit the organization but will also result in their personal development. This will make the employee wanting to stay within an organization.
- Appreciate employees: Self-esteem and self-recognition is what every human thrives for. Make sure that each employee in your organization is appreciated for his/her qualities and is recognized by senior management too. This makes the employee feel himself/herself as an essential part of the organization. Offering incentives, rewards, bonuses, etc. makes them think that their organization values them. Raises and rewards for the achievements of employees keep them motivated and motivate other employees to perform better.
Turacoz Workforce Solutions values its employees and understands their needs and believes in employee retention. For any organization, its workforce is its strength and the organization should make sure that their employees sense a feeling of belongingness and significance with them.
Turacoz Workforce Solutions offers medical staffing solutions and caters to pharma and healthcare sector by providing services like temporary hiring, temporary to permanent hiring and direct hiring.
To know more about our services, write us at email@example.comJanuary 09, 2019 By Aakanksha Pareek