Filling an open position is very expensive process from first round of interview to onboarding. In the current competitive environment it’s not as seamless as it once was. Good prospect has more than one offers so high demand-less supply makes this process more expensive. Due to this obvious reason ‘Retention’ is a hot topic for every organization.
Let’s think on : Why an employee (specially good performer) take this step and quit the current job ? Also what can be done to avoid it…
In my views (by reading somewhere & experience) major reasons behind this are:
Work life balance: One has to live his/her life outside office also hence few concepts like “flexitime, compressed work week, work from home, part time work” have been introduced.
Good employees are always working to achieve his/her own benchmarks & revisiting them periodically. No need to check “clock in-out” for them. As per few surveys more than 30% workers get email/call from their bosses after office hours. Such mails from bosses can pollute the environment near water cooler & tea stall (specially near IT firms)
Co-workers/Colleague: We are spending approx 40% timespan of our life (working career) at workspace, hence our colleague/co-workers are next to our family members. Healthy relationship should be built among them. Any good employee can’t perform at his/her level best without strong support from peers.
Respect: is an important artifact for better relationship not only in personal life but also in professional one. Higher management should show respect & care towards their employees via different ways. Can also be introduced good retention policies like rewards/recognition, performance bonuses, surprise monetary awards etc.
Better job opportunity: As we have some amount of clarity about money is not the only reason for a job to be a better one. A better job is often defined as simply a better opportunity for personal and professional growth and vertical mobility.
Higher management: I have read somewhere “People leaves managers, not companies”. More than 40% employees left because of the noise induced in the policies/vision by so many hops lies between CTO/CEO to actual worker. These hops are nothing but all the virtual bosses between employee & higher management, “The so called managers who are there only to delegate information with some noise”.
So many other reasons are -micromanagement, their boss’ hiring and promotion policies.
Therefore, it is the organization’s job to have procedures in place to manage management and track which departments are consistently losing staff.
Growth of particular: Being given only small, incremental goals rarely pushes employees out of their comfort zones or encourages them to learn new skills and take on new challenges. Ultimately, they feel stagnant and the job becomes monotonous. In addition, there is often little to no feedback on their work which does not allow for them to expand their skill set. Growth is continuous process & for good employees it’s a measurement criteria of their performance.
Manager has to revisit the assigned tasks to an employee at least quarterly & take appropriate actions as per his/her performance to provide him/her ample growth opportunities. Quality of work should be assigned to good employees all the time and he/she should not be overburdened with quantum of work as quantity kills quality after a threshold.
Retention policies (reward/recognition): Rewarding an employee is an important part of creating a quality culture in organization. High quality results produced within an expected time frame is the nature of the job; but rewarding good work is never a wasted effort.
All the employees will not respond in similar & positive manner for any retention policies. Same as 5 fingers of our hand are not equal, so organization has to introduce many more policies time to time.
So please keep an eye & ask to yourself as a manager : Are your employees happy?
Thank you for reading my post.
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