As a manager, one of the most important duties you have is to be aware of your employees and their feelings. Overall, a company should care about keeping their employees rather than having high turnover rates. In the end, this will save the company time, money, and effort of keeping good employees instead of having a “revolving door” environment. To keep employees happy and to understand them, you need to know what factors lead employees to quit. Here are the top 3 reasons why employees quit and what hiring managers should be looking out for to increase employee retention.
While rate of pay isn’t always the most important thing to a job seeker, it is often very important to those making a job decision. Pay rate not only helps the employee provide for themselves and their family, but also is a way of the employer letting them know they are doing a great job. Especially in today’s times with services like Glassdoor, employees know how much they are worth and what their anticipated salary should be. From a business perspective, the cost of replacing a good employee can be up to 2 times the employee’s salary, between paying others overtime to cover the costs of being understaffed and paying for new-employee training.
Conditions and circumstances of a position can change regularly as the company grows, as people leave, etc. Sometimes this change can create a new environment that employees don’t like. Additionally, if the position they are in lacks rooms for growth and advancement, which often happens in manufacturing type jobs, then employees may want to seek out other opportunities. Much of this is hard to control from a business perspective, but where there are opportunities to recognize employees dedication and hard work, managers should do so to encourage their employees.
Most people want to feel valued in their work, they want to feel appreciated, and that what they do has a purpose for them, while not feeling under pressure or over stressed by their workload. It’s important for managers to let their employees know that they are doing a good job and to also recognize when they are feeling stressed out. Managers should check in on their employees mental health and feelings towards their jobs to know if adjustments need to be made. The work culture should also be created to make employees feel comfortable enough to speak up when something is troubling them or they are feeling undervalued. Sometimes this aspect of work and appreciation can go even further than a raise and can keep some of the best employees. This also creates a healthy work environment with open communication for all.
While there can be things out of the manager or boss’ control that lead to employees quitting, there are many things a manager can do to check in on their employees and listen to their needs to discourage them from wanting to leave. Creating a positive culture within a work environment is extremely important, especially within younger generations seeking employment. Understand the three above mentioned reasons why employees quit is key to ensuring higher levels of employee retention and getting more potential job-seekers interested in working for you.