Losing your best employees can be quite hard for your organization. Replacing top talent is never easy, and training new employees doesn’t make the process any easier. When you lose an employee, you have to incur the cost of replacing them. There’s always a solid reason behind an employee’s decision to leave your organization. In order to prevent losing your best employees to your biggest competitors, its crucially important to understand the reason that underlies why they decided to leave in the first place:
All employees have a set of personal goals that they wish to accomplish at some point. When an employee begins to see that there’s little room for professional growth at the workplace, they will begin looking for it somewhere else. At some point, your top talent wishes to grow, develop and move forward in their professional career. If you wish to stop your best employees from leaving your organization, then you should give them something to strive for, such as a clearly defined career path.
As an employer, you must give your employees a sense of ownership. When employees are tied to an organization, they’ll start to feel like they’re contributing to its well-being. Employees usually desire to express ownership of their work because it gives them a sense of empowerment and it makes them feel more valued. Last but not least, when employees are given the chance to own their work, they’ll feel significantly important to the organization. Therefore, this plays a huge role in improving their job satisfaction and happiness.
There are many ways to recognize your employees, and that’s not necessarily confined to salary bonuses. Words of appreciation are free. Who doesn’t like to be recognized and appreciated for a job well done? Some employers are under the impression that if they recognize their employees, it might foster ungratefulness or spoil their ego. When you fail to recognize your employees or thank them for their hard work, they will lose the motivation to work and they’ll eventually seek employment at a place where their hard work will feel well deserved and appreciated.
Sometimes, of all the reasons employees choose to leave an organization, having a bad manager tops the list. Employees usually join an organization for the compensation and growth opportunities, but usually end up leaving because they fail to see eye to eye with their managers. Employee engagement is highly connected to a healthy manager relationship. A good manager will allow the employees to grow, learn, and develop new skills. If an employee starts to feel deprived of such a connection, they will most definitely decide to seek employment somewhere else where they can be properly mentored.
Written By: Fatima Rassool