The solidity of a company can be easily characterized by its ability to retain its employees. Those employers who strive to keep the best talents in their team tend to apply proven personnel management practices to reduce employee turnover.
A pre-planned, well-executed employee retention strategy is a key step that could prevent a decline in the quality of work due to continuous change in internal structure.
In this article, Jobbri will share the top reasons why employees leave and reveal 3 ways you can retain talent in your company.
Why do employees leave their jobs?
While everyone has their own personal reasons for wanting to leave a job, they are often connected to what you're willing to give up as an employer to keep these talents in your team.
The exit interview can give you valuable insight into how employees think and help you restructure the strategy you've already built. You are likely to hear one of the following reasons when a person is leaving:
· The salary and health benefits are not enough
· The work is too much, and it overloads the employee
· Career growth is limited
· Lack of recognition and dissatisfaction with management
· Disagreement with company policies
· Desire to develop in another workplace
You need to have a ready solution for any reason to change the mind of the employee standing in front of you. It all depends on whether he or she is a valuable asset to the company, or whether you will be able to move forward without his or her skills.
1. You need to realize that retaining talents starts with hiring them
One truth that many employers don't want to admit is that retaining talent starts with the hiring process. From reading their resume, to the interview, all the way to signing a contract.
According to studies, the longer an employee stays with your company, the more their productivity rises over time. For this to happen, you need to make decisions that help engage the employee and make sure that this is their place.
As early as the job interview, you should ask about the candidate's desires and expectations - what salary will satisfy his needs, what he expects from his colleagues and employers, and what might motivate him to always perform at his best. This will help you assess whether you can meet their needs and whether it makes sense to move forward with this candidate.
2. Provide the necessary training and scope for development and expression
Motivating your employees and providing them with a platform to express themselves is a step you need to take if you want to keep them in your company. By doing so, you make them feel fruitful and help them develop their skills.
Providing monthly training sessions is important to encourage them to gain new knowledge and qualifications. Professional and career development opportunities that are relevant to each employee can help in the decision of whether to stay with your company or leave.
According to research, over 80% of employees would leave a company if it cannot provide them with personal development opportunities. Engaging in training on a monthly or yearly basis is seen as an investment that is also an incentive to perform better on the job.
This training should start with coaching, feedback and performance appraisal to be as optimal as possible for employees. Remember that each person has a different progress speed, so give them the time they need to show what they have learned.
3. Be respectful of your employees' needs and listen to them
As mentioned earlier, understanding the needs of your employees is essential if you want to work together. It's important to note that candidates’ expectations do change over time, so you need to be flexible and respond to the individual needs.
Since most employees leave their position due to dissatisfaction with their manager, you need to work towards continuous improvement and communication between you and your employees. If any management issues arise or the employees feel that the employer has failed in their tasks to engage and manage their team, then they will most likely resign.
Therefore, it is important to listen to your colleagues and arrange meetings where you share your observations, and they share their concerns about the position. Then you need to come to a solution together so that the work can continue and be as effective as possible.
Regular "state of the business" meetings can be held anywhere from three months to six months and should include all managers and employees. If there are too many people, they can be divided into groups to make the effect better.
At these meetings you can discuss what is happening with strategy, competition, finance and business prospects. Involve your colleagues and ask for their ideas. They will appreciate that you are interested in their opinions and treat them as equal colleagues, not just employees. Another option is to poll people every month to get feedback on their attitudes towards their work and the overall vision of the company.
In the course of work, it is inevitable that some team members leave, and others take their place. If these are people your company values a lot, you should do everything you can to keep them.
With the help of Jobbri's tips, you will know how to approach such a situation and how to predispose the best talent to stay with you, as you grow your business together!
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