The employee turnover rate is the percentage of workers that leave a company and need to be replaced within a specific time period. While people will come and go from a job, no organization wants to lose its top performers, but it can happen. While it’s impossible to stop voluntary employee turnover one hundred percent, there are some significant causes for it your company can start addressing to mitigate the issue.
They Don’t See a Path for Professional Growth & Development
There are not many “A players” who want to stay stagnant in their career path. Most high-performing employees have a strong desire to continue growing their skills through professional development. Suppose an employee feels like they’ve peaked in their position or don’t see a realistic growth path. In that case, they will likely start looking for companies who would support their interest in professional development.
Even if your company isn’t able to financially assist professional development, it’s important to provide support alongside those who want to grow. This can look like offering mentor sessions with leaders in the organization, providing cross-training, or supporting time spend on development.
They Lack Autonomy & Decision-making Authority
No one wants to be micromanaged. You hired your employees to get the job done; now give them space and authority to do it to the best of their ability. When your top-performing employees feel like they lack autonomy and decision-making authority for their position, they might start thinking about finding a company that will.
Micromanaging is one of the biggest roadblocks to innovation, creativity, and productivity. Instead of stifling your team, trust your employees to perform well – allow them some freedom, and you are sure to see their enthusiasm grow exponentially!
They Don’t Receive Feedback or Recognition
Anyone who says they don’t need recognition is lying. Being publically acknowledged for a job well done or the contributions made are a huge key in retaining your employees. It has nothing to do with vanity or ego but everything to do with feeling valued.
Your team also wants consistent feedback. They don’t want to be in the dark about their performance or feel like they can’t share their goals with their manager. It’s also not fair to your employees who are struggling not to receive feedback on how they can improve and succeed. When you skip the opportunity for feedback, you run the risk of leaving your employees to flounder, become disengaged, struggle, and, eventually, give up and turnover.
Don’t let your best employees turnover because they don’t feel valued. Your organization must take steps to provide or support professional development opportunities, encourage employee autonomy, and give proper feedback and recognition that is deserved. When your organization creates an environment and culture that focuses on employee value, your team will be more likely to stick around.
About EG Workforce Solutions
We’ve been in this business for decades and have developed a deep network of professional connections. Whether they’re companies looking for talent, job seekers looking for work, or an up-and-coming store in need of some temporary help, we know the right people to bridge the gap between the hiring and the hired.
But what’s more, we get to know people. From employers hiring to candidates looking, we take the time to listen and learn. We hear your likes, talents, and needs. We gain an understanding, and with it, we’re able to facilitate lasting relationships between businesses and people.Back to Blog Page