There are hundreds of reasons why employees quit their jobs. Some opted to be stay-at-home moms. Some wanted to change careers and follow their dreams. These reasons are beyond the scope of the employer but there are other reasons that we can actually control.
Here are some of the top reasons why employees quit their jobs.
You don’t necessarily have to be friends with your employees but you still need to have a professional relationship with them. As their leader, you need to be someone that they can rely on no matter what happens.
Try setting up a weekly or at least a monthly meeting for your employees. If your company is too huge then perhaps set an annual party where you can recognise and award top employees. If you keep your employees happy and they feel like their efforts are appreciated, then they will surely stay at your company for a very long time.
No one wants to stay in the same position for a long time, thus employees want a challenge from time to time. If they get so used to the things that they do, then expect them to get bored easily.
Keep them excited by giving them a new task. Let them lead a dance number for a company party. Or you can let them host an event for your company. Anything that can keep their spirits up will help you retain them.
If they are looking to grow with the company professionally then it is necessary to provide them with proper guidance. Hone and coach them to be who they want to be. Their success will surely be your success too.
Employee compensation and benefits
“Looking for greener pastures” is one common phrase that employees use when they resign. This simply means that they are looking for another company that can provide them with higher pay and better benefits.
Employees have needs and they need money to support these needs. If the pay the company provides is not enough to sustain them, they often find lenders for quick loans that will support them as a short-term solution.
Once they realise it, they will start looking for a company that pays higher than their current company does. Yes, you may not have control over the salary of the employees, unless you own the company, but you can talk to them and help them resolve their problems with their finances.
The culture of the company highly affects the decision of an employee to stay or leave. If the culture your company has does not support their values and beliefs, expect them to walk away from it.
Creating an environment that hears the voice of each employee can make them stay longer. The management should openly communicate, listen to, and act on the grievances of the employees.
The happier an employee is, the longer they stay and the more they become loyal to the company.