Do You Know the 5 Biggest Reasons Employees Leave Their Company? The Answers May Surprise You
Tag Archives: retention
There has been a lot of talk about 2013 being the year that employees make the jump and seek new employment. That being said, how can you make higher turnover work for your firm?
Change your exit interview. Instead of going with the usual, “Why are you leaving?” – which most employees won’t give an honest answer to, being as they’re already out the door – try switching to the more revealing, “What made you start looking?” instead.
This question can yield informative responses, such as poor team management or other organizational dysfunction, that may not have been mentioned in the standard exit interview. And once you have this information, HR, you can use it to start making changes to minimize future turnover.
If you’re not planning on doing that, don’t bother having an exit interview anyway. Its will just be a waste of everyone’s time. The only reason to have an exit interview is to gain information that can help you improve the organization. You can’t fix it for this employee who’s leaving, but you can use their experience to improve it for others.
In the 14th Annual Global CEO Survey by PricewaterhouseCoopers, Millennials also rank training and development three times higher than cash bonuses when it comes to employee benefits.
The younger generation has been generally more difficult when it comes to developing employee retention strategy. Millennials tend to feel less connected with the organization, and 1 in 4 potential employees plan to leave their jobs in the next 12 months.
According to Vineet Nayar, Vice-Chairman and CEO of HCL Technologies in India:
“With Generation Y coming into the business, hierarchies have to disappear. Generation Y expects to work in communities of mutual interest and passion — not structured hierarchies. Consequently, people-management strategies will have to change so that they look more like Facebook and less like the pyramid structures we are used to.”
In a comparison, this article examines therapist Lori Gottlieb, who had diagnosed patients who were unhappy because their parents had been too supportive, too accommodating, and never gave negative feedback during their childhoods.
Likewise, the communication tactics used in HR and business management have an impact on employees – their satisfaction with the jobs they do, and how they grow in their careers in the company.
For instance, here are a few tactics to avoid:
- Never admit to yourself or others that your workers may make errors.
- You should only give positive feedback.
- You should always say yes to your workers.
- You should solve every problem.
- Your people never move up, just out.
In fact, psychologist Barry Schwartz has recently observed that many areas of life are increasingly bound up with rules that limit the ability of individuals to use judgment and make the best decision they see.
What this could mean for employers and HR professionals is that a rigid system of management that disables employee judgment creates hurdles, and could also work against the goal of improving overall engagement in the workforce.
While metrics and policies for employees are effective HR tools, there are some things to exercise caution for balance. From the Review:
“Invest in your front-line employees and then trust them to make the right decisions for the customer. Otherwise you’ll be managing a group of automatons who, when confronted with situations outside the rigid rules, will be virtually guaranteed to make the wrong judgment.”
The research included more than 400 participants, and they found that employees grow increasingly more dissatisfied, and worse, can result in their leaving the company.
“Nearly 60 percent of workers in the OfficeTeam study said they stayed on the job, despite having a nasty boss. Only 11 percent quit immediately, without another job lined up. Another 27 percent planned their escape, finding another job first and then leaving.”
- The Micromanager
- The Bad Communicator
- The Bully
- The Saboteur
- Mixed Nuts