PostTop 5 Reasons Why Employees Leave Their Jobs
If you have had difficulty hiring and retaining employees this year, then you know that the Great Reshuffle is no joke. That is what the Great Resignation called now. More and more workers are switching their occupations or field of work hoping that the grass is greener on the other side. They are not quitting the labor force per se, they are just re-shuffling. As a manager, or a business owner, you probably keep asking yourself as to why the Great Resignation is happening. The most recent study by HR.com reveals 5 top reasons why employees leave their jobs in 2022.
Top Reason # 1 – Higher Salary Elsewhere
A big chunk of responders, that is 75% of them, believe that higher salary is the top reason why people leave their jobs. With retention leading companies almost fist fighting for talent, it’s no surprise that your average joe will go looking for a pay raise somewhere else, even if all other things seem satisfactory.
What’s a manager to-do here?
Face up to the pressure to increase the pay. Research the current market rates to check if what you are paying your employees is competitive in order to attract talent and retain your workforce. If you have a tight budget, then the news is pretty bad – you will need to boost it, or you risk losing your key (and not-so key) performers.
Top Reason # 2 – More Opportunities for Career Growth Elsewhere
This issue also stems from the factors happening outside of the organization. In other words, you have little control over it, unless you have a solid career growth and development system.
What if your organization isn’t growing and you have no plans to offer career growth to your superstars? You must build a strategy for career growth and development and communicate it to your top talent with as much specifics as possible. This is the first step in making your people feel valued. You also want to make sure your organization has a succession plan in place.
Top Reason # 3 – Your Employees Want More Flexible Work Arrangements
Flexibility in work arrangements is one of the most important perks that is highly sought after. It is also an internal factor that you have control over as a manager or owner. Flex work not only offers autonomy and option to make one’s own schedule, but it also empowers employees, provides work-life balance, reduces stress, and so on and so forth.
Want to get ahead in attracting and retaining talent among your industry rivals?
Start with recognizing that there is a need for flexible work arrangements, and it won’t go anywhere. Better yet, put a flexible work arrangement policy in place to increase transparency and put your new hires at ease and be consistent about it. Some organizations assume that now that the Covid-19 pandemic is coming to a halt, they can go back to rigid schedules. This could not be further from the truth. Employees demand flexibility and will seek employers who offer it. Be prepared to support fully remote workers who wish to relocate.
Top Reason #4 – Your Employees Don’t Feel Valued
They could feel not valued either by you specifically, or your managers, or even your organization as a whole. This is also an internal factor that you can control.
First, ensure that you adequately compensate your employees, provide career growth opportunities, and offer flexibility. Only after these top three needs are met, you can address the feeling of not being valued.
You start with providing better recognition and showing appreciation for your employees’ good work. You can recognize your high performers informally by developing a culture where managers take some time to display their gratitude for the efforts and successes of their direct reports. Alternatively, you can put in place a formal recognition program with rewards points and bonuses. The choice is yours, but recognition is more important than ever and has to start at the top (you).
Top Reason # 5 – They Relocate to a Different Area
The cost of living is sky-rocketing and people do what’s logical – if they cannot afford to live in the area, they relocate to somewhere else where the cost of living is cheaper.
If relocating to a different area does not significantly affect the way your employees do their jobs, let them. This all comes down to flexibility that people are looking for when applying for jobs. Have your HR develop a policy to ensure that relocation decisions are uniform across the organization.
Overall, the best course of action here is to be proactive. Make your employees want to stay with you by offering higher pay, promotions, flexible working schedules and fostering a culture of recognition, engagement, and empowerment.
