We are currently in one of the tightest job markets ever. Every day becomes a bit harder to find a new employee to fill a vacant position within your company. Employees are leaving for better opportunities that are being offered left and right because, well, other employers are upping the ante out of desperation to hire top talent. Are all employees eager to jump ship? Is this only happening to my company? Why are my employees quitting? Where is the loyalty? These are all questions you may be asking yourself. Let’s take a deeper look into the main reasons why employees are pursuing other opportunities.
1. Poor management. A bad manager can cause a lot of harm within your team. Sometimes it is easier and more cost-efficient to handle the managerial situation than to keep replacing employees who leave because of that manager. The truth is often in the numbers, so if a lot of employees are unhappy because of their manager, there is probably a good reason. A raise or promotion will never be enough to make an employee stay who is unhappy with their manager.
2. Life changes. This is pretty much out of your control. People have their own set of goals and agendas, and it is their mission to take the path to achieve those milestones. While you may be somewhat powerless in this category, it is beneficial to check-in periodically and inquire if they are happy and satisfied with their job, what are their goals within the company, do they have any questions regarding their career path at your organization? Clear communication is extremely beneficial here. For example, say one of your best employees has a new baby at home and needs to see a bigger paycheck. This information is critical to you because it gives you an opportunity to make some changes, if possible, or at the very least, be aware that you may lose this employee sooner than later.
3. Stagnant career path. A recent Gallup poll stated that 51% of employees are actively looking or keeping an eye out for new job openings. Your best employees are not going to be content with a stagnant career. They want to continuously grow and feel challenged. Some larger companies are tackling this issue by having their internal recruiters contact current employees to let them know about new openings within the company that may be a good fit for them. They are fishing in their own pond. This is a much more efficient process compared to identifying and sourcing new candidates!
4. Lack of challenge. Another recent Gallup report found that 68% of today’s workers feel they are over-qualified for the day-to-day work they are completing. For starters, job descriptions should accurately portray the open position so job seekers understand what they are actually getting in to. Employee engagement comes into play here as well. Work closely with employees to ensure they are engaged and excited about the company’s vision and mission and how their individual work contributes to achieving that purpose.
5. Little recognition. Even the most intrinsically motivated employees need recognition once in a while. Let them know that they have a very important purpose within the organization and that their work truly matters. Recognizing good work is one of the best things a manager can do. A little praise can go a long way.
Not only is it frustrating and upsetting to lose an employee – it is also expensive! It is harder than ever to integrate a new hire into many of the team environments that we are seeing in the workplace today. Management must stay focused on keeping employees engaged and happy, as that is the biggest driver in employee retention. Some reasons why employees quit may be completely out of your control, so take power in what you can control and hold on tight! If you need assistance backfilling open positions after an employee quit or moved to another role within your company, please contact us and we would be happy to help!