[aa_subtitle_display]Retaining talent at your business is important to you, because the costs associated with recruiting, hiring, and training are high.
After all, Ere Media reports that one third of new hires quit their job after about six months, which means the money spent hiring and onboarding those employees would be more or less wasted.
Since “job-hopping” is becoming more and more common, it is becoming more and more of a priority for employers to take measures to keep the great talent they have from walking out the door. In fact, nearly four out of five – 78% – of business leaders rank employee retention as important or urgent.
With that being said, recognizing common reasons that cause great and highly coveted employees to leave helps work through the issues. Take a look at the most prevalent reasons below.
Common Reasons Your Best Employees are Quitting
Bad bosses can have a huge effect on your organization, most notably by pushing valuable talent out the door. Working for a bad manager can be demotivating, demoralizing, and a highly frustrating experience.
A poor management experience also has the tendency to make employees feel as though they have nowhere to turn, since they feel like they cannot go to their direct manager and, often times, do not want to “bother” a higher up when they are experiencing a problem.
Managers with poor or underdeveloped leadership skills pose a huge problem for your organization in the fact that it makes teammates want to leave the company.
Altered job duties
Switching the job duties of employees with no notice or discussion can be cause for unhappy employees. When people join a team, they typically have an idea of the day-to-day responsibilities they will be carrying out.
Adding or changing those agreed upon duties could negatively affect the morale of workers, especially if their new duties are not appealing or interesting to them. This could prompt teammates to seek employment elsewhere.
Not feeling heard
When employees do not feel as though their voice is heard, they are likely to end up unhappy in their job, which could lead to them leaving the organization.
Employees who feel as though they do not have a voice or like their opinions do not matter can quickly become disengaged. Ensuring that you are regularly collecting feedback from those in every level of the company is an important part of making employees happy and preventing top talent from seeking employment elsewhere.
Lack of recognition
When you fail to recognize the hard work and talent of those who make up your organization, morale is bound to drop, leading to the possibility of valued employees leaving the company. Regularly recognizing the efforts, achievements, and dedication of employees is a vital step in retaining prized talent at your business.
How a PEO Can Help
PEOs have expertise and knowledge in retaining talent at your organization and can help you to minimize costs. Call us to receive a complimentary competitive analysis to find the PEO that will best fit your company.