Employee motivation is the most important subject while developing the work culture in the office. Some companies often suffer from high employee turnover, which impedes the pace of their growth. It becomes a pain point for the company when more employees are likely to quit their current job. The average cost of an employee leaving the organization is 33% of their yearly salary as per the study of Employee Benefits News. Building a team means focusing on allowing team members to deliver effective and unique solutions for complicated projects.
High Employee Turnover
In an organization, the implementation of strategies to achieve a positive employee retention rate is crucial. When the employee feels a lack of support in the workplace, it leads to the creation of an unhealthy environment. According to a LinkedIn report, around 93% of employees aren’t willing to work for the company, not investing in their career. Read further to know why employees leave their job.
- According to a Gallup survey, managers influence employees by 75% leading to voluntary turnover. Voluntary turnover refers to the condition where employees leave the organization due to personal reasons. We may say that those employees aren’t leaving the organization directly but leave the manager. In this way, the company can lose top talents. Due to the poor leadership qualities of leaders, the growth of the business is adversely affected.
- Lack of job satisfaction is the most common reason for the employee to change their job. If the employee isn’t happy with work, they work with less productivity. According to a Gallup survey, around 20.2% of people leave the job for which they aren’t a good fit. This may occur when the employee isn’t equipped to deal with changing market trends.
Things to Avoid
- Poor Work Culture
A solid work culture is the primary requirement of employees to boost their motivation and productivity. Mostly employee turnover occurs when leaders fail to recognize the importance of diversity in the environment of the workplace. When leaders cannot make propounding changes, they may fail to take effective measures to avoid poor employee retention.
- Failure in Defining the Roles
If leaders fail to define the right roles for the employees, it may affect the employee retention rate adversely. By clearly addressing the objective and target of the organization, the employer can empower their employees to become confident in the task delegated to them.
- Poor Management
Managers are needed to be well-trained for leadership roles before they are sent for the managerial position. Bouygues managers emphasize providing career advancement opportunities to teammates, so they are more likely to engage with the team. Leaders should provide constructive feedback to the employees on a regular basis.
The reason behind the high employee turnover is low engagement. Employees may choose to leave the organization due to several reasons, mainly due to lack of contentment. Poor turnover can affect the business in the long term. To lead a successful business, it is important to maintain the engagement of employees in every way possible.