Employees leave organizations for many reasons, mostly these reasons are unknown to their employers. Its employer’s responsibility to listen to employee’s needs and implement retention strategies to make employees feel that they are valued and engaged to keep them, which will have a significant and positive impact on the organization’s turnover rate. Many managers in the organization feel that their employees leave mainly for pay related reasons however there are many other reasons why employees leave.
Main reasons why they leave are when they feel that the job or workplace is not what they have expected, when there is a mismatch between the job and the person, due to very few growth and development opportunities, when employees feel they are devalued and not recognized, when they feel stressed or when they have work-life imbalance, when employees lose their trust and confidence in senior managers.
It is essential for all organizations to develop a retention plan to retain employees. Many organizations face challenges and are in a dilemma whether to invest more time and money fine tuning their recruitment strategy or to pay extra to retaining the talents already there in the system. Today employees are looking for a career package, including a comfortable company culture, career path, diversity of responsibilities, and a work-life balance. Here are some of the effective methods use by many organizations to keep their employees happy and a part of their organization instead of looking for employment opportunities elsewhere.
- Training employees strengthens their sense of value, through training, employers help employees achieve goals and ensure they have a solid understanding of their job requirements.
- A mentoring program integrated with a goal-oriented feedback system provides a structured mechanism for developing strong relationships within an organization and is a solid foundation for employee retention and growth.
- Use communication to build credibility. No matter what the size of the organization, communication is central to building and maintaining credibility. It’s also important for employees to know that the employer is really listening and responds to employee input.
- Coaching – It’s important for companies to give feedback and coaching to employees so that their efforts stay aligned with the goals of the company and meet expectations. Employers should also provide formal and informal feedback to employees throughout the year.
- Make employees feel valued. Employees will go the extra mile if they feel responsible for the results of their work, have a sense of worth in their jobs, believe their jobs make effective use of their skills, and receive recognition for their contributions.
- Work life balance. It’s important to match work/life benefits to the needs of employees. This could be in the form of offering nontraditional work schedules or extra holidays. When work-life balance is structured properly, both the employee and employer come out ahead.
A company should establish a series of values as the basis for culture such as honesty, excellence, attitude, respect, and teamwork. A company that creates the right culture will have an advantage when it comes to attracting and keeping good employees.