In a survey done on organizations that embrace employee retention strategies, it was discovered that 10% – 20% of their time is spent on developing strategies but none actually set out guidelines or timetables of execution.
Employers often make the mistake of assuming that offering higher pay is guaranteed to keep their workforce willfully engaged and loyal. While pay might form part of the reasons for employee exits, research figures show the following as most occurring reasons why employees leave for competition.
It doesn't feel good around here: Some employees experience difficulty aligning with the company’s corporate culture. This translates sometimes into their opinions of physical conditions around the workplace - comfort, convenience, safety, and the clarity of mission.
They wouldn't miss me if I were gone: Recognition of ideas and individual contributions go a long way in boosting moral and keeping your workforce engaged. If they feel you regard them as expendable, they'll leave for a position where they're appreciated. If you value their contribution, say it often.
I don't get the support I need to get my job done: Frustration often sets in when employees are hindered in their job delivery by too many rules, sketchy communication, incompetent supervisors or co-workers.
There's no opportunity for advancement: Not just upward promotions are considered as advancement options. Opportunities to learn, to sharpen skills and pick-up new one for is a key consideration. In cases like this lateral movement holds more appeal than upward movement.
I don’t get along with the people I work with: This often plays a major role in employee defection. The work environment might be favorable but shaky relationships between co-workers can make coming to work a herculean act.
I am stressed from overwork and Work/Life imbalance: Employees often consistently work late, work through lunch, work through sickness and take work home. A toxic work environment which makes employees choose between a career and a life is the breeding ground for disgruntled workers and eventual mass exit of good hands.
Compensation: Workers want fair compensation for work done but it’s often observed that when most of the above listed criteria are left unaddressed higher wages are not strong enough to keep employees.
The Marriot, a worldwide operator and franchisor of a broad portfolio of hotels, Southwest airlines, the coffee franchise Starbucks and Google have at the heart of their operation the employee centric approach.
Marriot and Southwest hire based on attitude and not skill because in the service industry, your employees are your brand ambassadors who should embody the spirit of the company rather than its functions.
Starbucks offers healthcare and retirement benefits to its part-time workers. Their employee turnover rate has summarily reduced yearly, which is a rare feat in that industry.
The internet giant, Google, on the other hand believes that employee’s satisfaction goes beyond providing health care and vacation time. They offer free meals, shuttle buses, in-house doctors, 24-hour gym, massage service, and dry cleaning to its more than 12,000 employees. In 2008, Fortune Magazine listed them as the best company to work.
Take Learning
Reasons listed above are by no means conclusive as to why people leave companies, individuals have various qualities they look out for when seeking employment. Employers can however reduce employee turnover by
- Creating a conducive, non-hostile and stable working environment
- Establishing clear expectations from employees
- Hiring personnel who share their values
- Appropriately aligning matching job roles and projects to employee strengths and interests
- Focus on making your managers, supervisors and/or team leaders better
There are no guarantees when dealing with people but by adopting and implementing an employee centric model employee engagement will be on the high. However, there will still be employees who feel they can better themselves just by chasing more income.
Jack Welch of GE once said “Any company trying to compete must figure out a way to engage the mind of every employee.” Much of a company’s value lies “between the ears of its employees” and it is to the greater good for companies to do all they can to keep impacted knowledge within the family.
I’ll rephrase the old service mantra that says ‘The Customer is King’ but in today’s modern world, ‘The Employee is King’.
