????♂?????♀?Why good employees leave and how to retain top talent?

?????♂??????♀? Why do good people leave?

There are lots of reasons why good employees leave organisations but here are some of the top reasons:

Unsuitable reward scheme ??????

To offer appropriate rewards you really need to understand what motivates your employees. One size doesn’t fit all. Of course, financial rewards will never go amiss but it’s about more than that. Whether it’s offering a promotion, giving them an extra day of annual leave, presenting them with a voucher for their favourite shop or an opportunity to take on extra responsibilities, you need to make sure you recognise your employees and reward them appropriately. If they don’t feel appreciated they will start to look elsewhere. Remember, your employees are your customers.

Poor management ?????♀??????????♂?

 There is a saying ‘people don’t leave jobs, they leave managers.’ It doesn’t matter how interesting their job is or how much money they are being paid, if a manager is difficult to get along with the chances of you losing key people increases. An employee who doesn’t like or respect their manager will quickly lose motivation and become less productive. On the other hand, a good manager will inspire loyalty, regardless of whether or not they are being paid the best salary.

Stress?????♂??????♀?

Whilst there is nothing wrong with a bit of healthy competition, conflict at work doesn’t make for happy staff. Managers who use the ‘divide and conquer’ approach will find themselves with a higher staff turnover than those who unite their teams. As a manager, whilst it’s important to recognise good workers, make sure you don’t give an individual more work than they can handle or you will run the risk of overwhelming or burning him out.

Constant reorganisation?????♂?????

Companies who regularly reorganise typically have a high turnover rate. When employees see their colleagues regularly being laid off, it creates a feeling of uncertainty and insecurity so they often tend to look for opportunities they perceive as more permanent.

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?? How to retain top talent ?

Hire the Right Employees ??

As you're screening candidates, pay close attention to Job description in detail. While there's nothing wrong with someone switching jobs if it provides career advancement, look for someone who is interested in growing with your company rather than getting experience to take somewhere else.

Hire Their Friends ????????????

Want to find employees more likely to be a good cultural fit? You may want to ask around. After two years, companies retain 45 percent of referred employees, compared to just 20 percent of employees who were not referred. Your current employees are familiar with what it takes to be successful at your organization, so they can act as a prescreen when assessing if members of their network have what it takes, too. Your employees are unlikely to recommend someone who’s a poor fit for a job, as they don’t want a referral to reflect negatively on them. Additionally, companies spend significantly less time and money recruiting and hiring referrals. It’s a win-win for everyone!

Make Day 60 as Important as Day One (Onboarding) ??

Just because you’ve brought a new employee on board, the hiring process is not over. Ensuring that your employees have a positive, engaging onboarding experience is as important as making sure your recruiting and application processes go well. If typical worker tenures are getting shorter and shorter, it’s no longer acceptable to accept one to two years for people to get acclimated to their work environment. The onboarding process is your first impression to engage with a new employee. You want to put your best foot forward and get them quickly and fully productive.

Training and development ??

Make it a priority to invest in your workers' professional development and seek opportunities for them to grow. Some companies pay fees and travel for employees to attend conferences or industry events each year, provide tuition reimbursement, or pay for continuing education training.

Recognize Your Employees’ Hard Work ??

Everybody likes to be appreciated and thanked for their hard work. Recognizing your employees for a job well done is an important part of helping to ensure continued employee engagement. Your top talent is no different.

According to an OfficeTeam survey, while nearly nine in 10 (89 percent) senior managers said their organization is very or somewhat effective at showing appreciation to workers, three in 10 (30 percent) employees gave their firms low marks when it comes to recognizing their achievements. That’s an unfortunate disconnect.

Communicate! ??

Lack of communication is at the root of many employee frustrations. Make sure your business is creating channels for honest, specific feedback from and to your employees and taking advantage of ways to provide praise and constructive criticism in real time. Top-down communication can quickly become messy and convoluted. Instead, focus on direct, one-on-one conversations when possible. And provide digital spaces like employee communities to allow workers to come together and solve issues without management always being in the middle.

Perks ????

Whether it’s paid time off for volunteering, occasional catered lunches or free snacks and coffee every day, perks can make your workplace stand out and boost employee morale. Some companies negotiate group discounts on big-ticket purchases, from cars and homes to smartphones and home security systems.

Work-life balance ?????♀?

 What message is your company culture sending? Be careful to avoid having a culture that encourages and rewards around-the-clock availability. Expecting staff to regularly work long hours and be at your beck and call is not conducive to employee retention. A healthy work-life balance is essential to job satisfaction, and people need to know that their managers understand they have lives outside of work. Encourage staff to take their vacation time, and if late nights are necessary to wrap up a project, see if you can offer late arrivals or an extra day off to compensate.

Don’t micromanage ??

The best way to manage is often to give your employees clear direction, allow them plenty of space to do what they have to do and offer feedback. They may approach their work in a completely different way than you, but this should not matter as long as they get the results.

If you want to know what employees are doing all the time, they feel they are not trusted and are more likely to leave. Employers who have all kinds of petty rules and regulations stand the risk of losing employees to competitors. They have these rules because they fear a drop-in productivity but employees are often at their creative best when they are relaxed and allowed to get on and get the work done.

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