Nothing hurts more for an employer than to receive a resignation letter, especially when it’s from a top employee.
Yes, people come and go, and companies can’t expect their employees to stay with them forever (or at least until they retire). But, letting go of top performers is a big loss, not to mention the fact that you’ve invested a lot of time in grooming them. A vacant post is also costly in terms of productivity loss and hiring a new one.
According to the Philippine Statistic Authority, 79 per 1,000 employees either quit their jobs or got laid off in the fourth quarter of 2015. While people have different reasons for calling it quits, companies are often to blame for unconsciously driving their talents away.
If your top performers are bidding farewell and jumping ships one after another, you’re probably guilty of doing some of these.
1. You don’t pay them enough.
The rising cost of living could drive some people mad. If you’re not paying or promoting your employees properly, chances are, they will invariably look for greener pastures. This is one of the top reasons people leave.
In a PayScale report, only 36% of employees (one in three) believe they are being “paid what they’re worth.” This emphasized the need for employers and managers to guarantee that their team members are well compensated to avoid unhappy employees.
2. You don’t appreciate them enough.
The employer-employee relationship is a bond, and workers are highly driven by their emotions and feelings. You can’t expect employees to work their best if you don’t show them that they are valued and appreciated.
Simple treats like free donuts on a Friday afternoon can boost company morale just as easily. If you don’t give credit or rewards where they are due, your employees will more likely to walk out the door soon.
3. They are overworked.
If you don’t promote work-life balance in your organization, you don’t only squash your employees’ energy and motivation, but also damage your work reputation.
A US survey reported that 28% of over 1000 employees often feel overworked while another 28% stated that they feel overwhelmed. Overworked employees rarely reflect on their work and lose focus on the value of what they add to the company.
This leads to the feeling of being undervalued. And despite high salary, most people end up leaving their jobs to take a breather or find new employment where work-life balance is possible.
4. You don’t offer career development.
Dead-end jobs do not fly well with employees who want to take charge of their careers, especially the top talents. In fact, career development is so crucial that a recruitment firm often makes it part of their communication package when they approach candidates.
Even small- and medium-sized businesses can offer coaching programs as simple as watching the pros at work or in the form of consistent feedback. If you do neither, your employees will look for it elsewhere.
5. You are a micro-manager.
Nobody wants to go through their day with their managers breathing down their necks or looking over their shoulders to ensure that employees are doing things their way. The thing is, micromanagement is so rampant, but many managers are not aware of its detrimental effects.
A survey found that 9 out of 10 managers were not aware that their micromanagement resulted in employee resignations.
If you entrust a project to your team, just give them instructions and tools to accomplish it. You don’t need to monitor them in every step to see if they are overcoming the challenges using your methods. Good employees are resourceful. They’ll find ways to get the job done fast.
6. You don’t support them.
If you don’t provide your employees with the right training and tools to do their jobs, productivity suffers, which could affect business growth.
Motivating them is not enough. You need to ensure that they have everything they need to become effective in the job. Equip them with the right skills to move up and handle bigger responsibilities.
Keep Them Happy While They’re with You
The truth is everyone leaves, even the best ones. You can’t expect them to stay with you for the duration of their careers.
What you can do as an effective employer is to help them become the best they can be while they’re with your organization. Inspire them to become high performers.
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