When employees leave the companies that they’re working for, this could be for one or many reasons. Some employers think employees leave just because of pay issues though. However, many employees leave jobs for reasons other than money. Also, when an employee does leave a job, it can cost an employer loss of productivity and the expense of finding a replacement.
In addition, a strong company leader will listen to what an employee’s needs are and find ways to make an employee feel worthwhile and important. Also, it needs to be realized that what makes a person apply for a job isn’t the same thing as what will keep that person at that job. So, hiring a person with the benefits an employee enjoys only isn’t the same thing as keeping that person working at the job happily. So, what are some reasons why a person will leave a job? This is where retention method strategy may come into play.
Reasons why an employee will leave a job
Some reasons why an employee will leave a job besides pay are:
- The workplace or job isn’t what the person expected. This is because the job was misrepresented in some way, or the person wasn’t aware of what the job entailed.
- The job and the person are mismatched.
- In the training portion, there was very little feedback or coaching on what the job expectations were.
- The advancement and growth opportunities are too few.
- The employee feels that he or she is unrecognized or not valued for the work that is put out.
- The employee is stressed from being overworked which is resulting in a work/life imbalance.
- The confidence and trust in the senior leaders is lost.
What is retention method strategy?
Since hiring new employees can be time consuming and stressful, it is better to re-recruit the workforce which is already present. This is retention method strategy making sure that a good, cohesive staff is retained. So to make sure that employees stay with the organization instead of looking for jobs elsewhere, below are some effective methods to do this:
- Training: By making sure that employees have a solid understanding of what their jobs entail, this will reinforce how valuable they feel. It additionally gives employees confidence that they can do their jobs. It also helps as it maps out what’s expected of the employee and what the employee can achieve while working for the company.
- Mentoring: When someone with more experience on the job is paired with a new employee, it creates a strong foundation for growth and employee retention. The mentor then can provide feedback on performance, help to develop goals and a help to design a career development plan personalized for the individual being mentored.
- Appreciation shown through benefits and compensation: An employee likes to feel appreciated and offering rewards can bolster this. So, employers can offer bonus programs, profit sharing, paid time off and even pension and health plans. The rewards need to have value to have an influence on the employee too.
- Provide growth opportunities within the company: Keeping employees challenged at their jobs and providing workshops, updated software and other important tools will help to enhance goals. If an employer invests in an employee and in developing his or her career, the employee is most likely to stay with the company rather than looking for work elsewhere also.
- The employee feels valued: If the employee has pride in the work that they do, has a sense of responsibility, as well as feeling that their skills are well used then they will feel valued which leads to worker retention. To continue this feeling, rewards at a high and thoughtful level will motivate even higher achievement. This can be something as simple as a gift card being given to a favorite restaurant, to a cash reward with recognition given on the spot. Or perhaps, a flexible work schedule can be given to help with the work/life balance. So, find out what the employee needs and in application, follow up on this input.
By making the employee a valued part of the company, the rate of turnover will lesson, and the employee will be committed to the business’s success.