Retaining your highest producing employee must be a continuous primacy. They are difficult to replace and can cause a decrease in profitability if a company fails to retain them. Many companies still lose their top talented employees despite of knowing about their importance. Employee retention can play a significant role in improving the productivity of a business. Here in this article, we will highlight 5 key reasons that result in losing your high producing employee.
Personnel quit their bosses rather than the companies. Majority of the employees leave their job because they don’t like their higher management. There are several forms of bad management such as absence of good leadership, too much leadership, strict rules, communication gap between employees and higher management, belittling employees and much more. Managers should listen to their subordinates and try to resolve their issues as soon as possible.
No Engagement & Career Development
Money is not always the motivating factor for employees. Good financial benefits and attractive salary is not sufficient to engage best talent. Majority of the personnel would like to have opportunity for ongoing training, career development and progression in their current role. Try to engage your employees in decision making and provide a crystal-clear carrier path.
A lack of consistent and strong management is a key reason behind employees’ departure from their current job. Management should try to encourage open and honest feedback so as to highlight any issues within the organization. Furthermore, this strategy also helps in identifying any problems that employees are going through. Make sure your personnel are provided good leadership, communication skills and inclusivity. This may involve continuing training but it is worth pursuing. There must be strong leadership within a company at every level.
High Levels of Stress
Stress often lead to bad health conditions such as sleeping disorder, obesity, high blood pressure and heart attack. No one would like to be stressed at any cost but it is also a fact that most of the individuals become stressed due to their job. The most common stressors at workplace include: too much work load, poor management, long working hours, lack of carrier development, experiencing harassment at workplace and threat of termination. Being an employer, it is your responsibility to provide a comfortable, healthy and safe working environment. Give priority to work-life balance and provide equal opportunities to all employees regardless of their designation or rank.
Lack of Respect and Fairness
Employees become demotivated when they feel that they are not fairly treated. Rules of an organization should be followed by each and every employee. Treat and respect all employees in the same manner, irrespective of their role. Trust and respect can be built when same rules are followed at lower, middle and higher level management. Listen to your employees and do take their feedback and opinions. In this way, personnel will become more motivated and would love to perform their duties.
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