Does your company have an Employee Retention Program in place? If not, are you facing the problem of high employee turnover? A high employee turnover could show that your company is driving its employees away (perhaps, unknowingly). It is important to find out the cause of high employee turnover in your company so that you can act accordingly to retain your staff.
Let us discover several reasons for high staff turnover rates.
Employees seek opportunities for advancements in their careers. When opportunities are limited or growth is stagnated, employees might not see the point of staying on in the job. They would look out for companies that can offer them more opportunities in advancing their career or growth.
What do people work for? At the end of the day, part of what drives them to work each day is the salary package they receive. When employers do not offer a justifiable salary package in terms of their contributions to the company or the experience they had beforehand, employees would consider leaving the company once they have a better offer.
Having to take up the roles of several staff and longer working hours can result in high stress levels. Work-life balance can’t be achieved and thus, employees might crumble to the stress and work load in the end, causing them to leave the company.
Constant engagement with their employees will build their sense of commitment with the company in a long run. It might also lead the employees to not have a sense of pride in their job and not value themselves as an asset to the company. As such, staff loyalty decreases.
Poor management causes employees to leave. This occurs when employers or managers are not able to motivate staff, resolve any conflicts that arise and providing poor support to the employees in the company. A poor working environment is formed as a result, which drives many employees to leave.
Accurately pinpointing the reason for high employee turnover can really help you in resolving employee retention issues. You wouldn’t want to see your employees quit one by one, would you?
Article Contributed by HR in Asia‘s Team.