A salaried worker stays with their current employer for an average of 4.6 years, according to the Bureau of Labor Statistics. After the training, onboarding, and other resources you invest in an employee, retention is key for your organization. There are several common reasons employees leave besides a better offer. Here are the top 5 reasons employees leave a company:
1. Lack of stability
Your company likely has its’ ups and downs, but if there is constant turnover in employees, your stable employees may start to feel uneasy about their future with the company. This is a difficult situation to avoid. Make sure that your staff, salaries, benefits, and culture remain stable and steady, employees will feel your organization is a place they can build their future and maintain stability in their careers. When layoffs, budget cuts, etc., occur, be transparent about the issues and address each change so employees you want to retain aren’t worried about their future.
2. No future
Employees who feel they have a future within a company, the opportunity to move up, and add skills and experiences to their career are much more likely to stay with that organization. According to Forbes, a recent study shows that the majority of students today are looking for career advancement more than anything else. Most companies don’t handle career paths as they should. Ensure you communicate the opportunities to move up within your organization and let employees know what they need to do to get there.
3. Lack of work-life balance
There are only so many 12-hour days an employee can handle. As an employer, understanding that your employees have lives outside work is essential to retention. In some industries and careers, long days and weeks are the norm, and employees understand that but try and give your employees breaks when necessary. You don’t want your entire staff to be so burnt-out that they have no other option but to find a job with a better work-life balance. If someone has worked crazy hours for a few weeks straight, offering a half day or treating them to lunch can relieve some of the stress they might feel. As often as possible, if their work is done, try and respect their time outside of work as it is imperative to their happiness in the workplace.
4. Poor management
Whether it be a poor relationship with a manager or simply a lack of proper management, this is a huge reason many employees leave their job. From micro-management to none, being aware of how to manage your staff is incredibly important. Not everyone can hold a management position, and ensuring that those who do know what they’re doing is essential.
5. Poor workplace culture
When work isn’t a place you enjoy going to every day, it’s hard to do it for a long time. Creating a fun, motivating, and positive culture within the workplace will make it a place your employees want to come to each day. Providing benefits, hiring the right people, and hosting company-wide social events or incentive programs are all ways to create a positive culture.
Sometimes your employees simply can’t turn down another offer they get but managing these 5 factors will help with your employee retention and the stability of your company. Looking to add more talented people to your team? We can help!
Visit The Ultimate Guide to Hiring Digital Talent page for more information about how to retain your digital talent!
