Employees are quitting their positions now more than ever before. In fact, Bloomberg.com wrote an article depicting that “quit rate” has reached its highest point in 17 years! Keep reading to find out why some of the key reasons why employees are quitting, and how to keep them around.
Key Reasons for Quitting:
- Lack of Support: In several articles prior, we have emphasized the importance of managemental positions recognizing their employees’ success, and providing opportunities for them to grow and reach higher internal positions. Now, we cannot encourage this enough! You must support your employees in order to retain their enthusiasm and dedication to the firm.
- Lack of Relationship: Company atmosphere is undoubtedly a vital component of any workplace. It is vastly important for CEO’s, and company heads, to facilitate employee-to-employee relationships, and their own relationships with staff. Many employees will leave if they feel their boss does not care, does not value their work, or is overly demanding.
- Lack of “Work”: If an employee feels that their work lacks meaningful value, or that it does not contribute to the overall goals of the corporation, they will likely begin searching for new positions. How to avoid this? Trust your employees! Even if you are working with an entry-level member, remember that you hired this person for a reason, and they are capable of the assignments you give them.
- Lack of Culture: Each company varies in value, culture, and mission. However, the culture that you promote must be authentic. Employees accept job offers not only because of the position but because of company culture. So, if your “culture” does not align with the way it is expressed, reevaluate.
Keeping Your Employees!
- Respect! Although this seems obvious, there is no better way to show that you value an employee than to always treat them with respect. You can do so by offering support, communicating quickly and with a positive tone, and providing opportunities to grow and “work up the ladder”.
- Have Faith: Each employee you hire within your company has, in some way, expressed their qualifications and reasons why they would be a fantastic candidate for your firm. For that reason, let them be! Offering help is always encouraged, but make sure you are allowing for independence, and not breathing down their throats.
- Interpersonal Skills: At Esquire, we believe that excelling in interpersonal skills is nearly required to be a successful business leader. Take a class to teach you how to do so, do some research, and continue improving yourself so that you can become the most personable leader you can be!
- Allow Participation: All staff members should feel included in company decisions. Emphasize their importance by encouraging participation in meetings. Allowing for staff members to offer their own ideas and contribute to company projects will increase their motivation and loyalty to the company.
- Rewards: As we noted in the last article, being a truly fantastic boss does entail some incentivizing. Whether this means allowing your employees to come in late one day or leave early on occasion, offering incentives for hard work is proven to increase satisfaction and work ethic.
- Listen: An additional component of interpersonal skills is being an active listener. Listen to your employees at all times. Don’t look down at your phone, lose eye contact, roll your eyes, interrupt or switch topics. An employee who feels listened to is an employee who feels their ideas are important, who therefore feels valued.
With these strategies in mind, you are guaranteed to improve your rate of employee retention and avoid quitting!
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Learn about how to maintain attention as a boss here!