Excellent employees are irreplaceable. Sure, employers can fill job vacancies by hiring other applicants but there is no guarantee that the new recruits will do just as well in the positions. Each worker has a unique skill set that will never be alike to someone else’s. So when a company loses a great employee, it faces a costly turnover.
Employee engagement consultant Mary Davids shares four of the many reasons why good workers leave their jobs and what employers can do to prevent them.
Poor reward system
Contrary to several employers’ thinking, encouraging employees can be done not just through big paychecks and bonuses but also through regularly and sincerely recognizing hard work. Money can’t solve everything – including poor performance. With rewards apart from monetary means, workers feel valued and appreciated. Positive reinforcements also motivate employees. Managers who give awards to subordinates, such as the employee of the month, encourage other employees to keep trying to do well.
Unfavorable relationships with bosses
Sometimes, employees leave not because of the job but the unbearable managers. Since it is the bosses who give orders, assign tasks and provide feedback, they are the ones who play an integral part in the daily lives of the workers. Managers greatly influence the work place and a toxic relationship with a manager undermines an employee’s performance, engagement and confidence. The key to retaining top talent and high performance is developing good relationships with the subordinates. Employees need to feel that they are key contributors to the company rather than just legworks getting the job done.
Mismatched or lazy employees not only hold back the accomplishment of tasks but also causes nuisance over the hardworking ones. When employers hire inept applicants, they alienate and suppress good workers who sometimes opt to transfer to another company where they think they will have more opportunity for career growth and will be challenged more. Managers will then lose great employees over inefficient ones. To prevent this, employers should hire accordingly and ensure that each subordinate is working with passion, excitement and challenge.
Competent employees are sometimes given more workload as their employers see them fit. This becomes a problem when workers begin to feel overwhelmed. More responsibility is equal to more projects and overtimes. When employees no longer have a work-life balance, they tend to end up being burnt out and inefficient in accomplishing tasks. It’s good for managers to recognize and trust excellent workers, but the reward should not always be more workload. Job sharing not only builds teamwork but also gets the job done and makes everyone feel happy about it.
Ultimately, the culture and environment of the company are major factors to employee retention. When employers exude values and proper work ethics, provide career growth, evenly disseminate workloads and continuously recognize the hard work of employees, they are sure to have an annual worker turnover that is pretty close to zero.
With report from Cyra Moraleda