Major Reasons Behind Employees Turnover
Employee turnover is the proportion of employees who leave the company during a set period. This period is usually a year and is typically expressed as a percentage of the total workforce. It could be as simple as including all employees who leave within a given year, and it can be further broken down into voluntary or compulsory redundancies & resignation levels as well as the reasons for leaving to better help with people management. High employee turnover can be taxing. It costs precious time and money and results in loss of staff morale. Your reputation could also be tarnished, and it could be assumed that your organization is a terrible place to work. Here are the primary reasons why employees quit:
Lack of Growth and Progression
Opportunity for growth & development is very crucial for retaining efficient employees. When an employee feels trapped in a dead-end position, they tend to look towards different organizations for their chance of improving their status and income.
Being Overworked
It may seem natural that when there is economic pressure, you ask your employees to take on the extra responsibilities. You may even need to let people go and ask the remaining employees to pick up the slack by working for longer hours or even on weekends. But asking them to choose between their work life and personal life will never sit well. Instead, it’ll contribute to a high employee turnover rate, as employees get frustrated.
Lack of Feedback and Recognition
When you avoid giving feedback, you tend to push your employees away. Feedback is the first step to ensure that your employees succeed, so refraining from this process can be detrimental to their success. When an employee is struggling, your honest feedback will help them focus and manage their workload. Ignoring the opportunity of giving feedback, or providing unhelpful feedback, will leave your employee to flounder, becoming disheartened, struggle, and eventually, they’ll give up.
Little Opportunity for Decision-Making
Do you micromanage your staff? If so, you are telling them, ‘I don’t think you can do this correctly without me.’ Thus, micromanaging often stamps out the opportunity for innovation, which is something that you wouldn’t want. When the employees are over-managed or restricted, they feel stifled and are likely to get frustrated with this lack of freedom; this leads to high turnover. Instead, you should trust your employees to perform well – allow them to have some freedom, and you will surely see their enthusiasm being skyrocket.