For the purpose of this discussion, let’s define staff turnover as the number of staff that leave in a given year, divided by the total number of staff.
If staff turnover is too high, it is an indicator of the problems within your business.
They usually jump for joy or excitement, but your employees may have other reasons. To help you reduce staff turnover, here is a list of the Top 10 reasons why staff leave.
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Here is a list of the Top 10 reasons why staff leave.
- Relationship with Manager. It’s common knowledge that most people don’t leave the organisation, they leave because of their manager
- Boring work or work that isn’t challenging. If the work is boring staff will leave and go somewhere where the work is more challenging
- Relationships with co-workers. Good relationships with colleagues help staff retention whereas bad relationships push staff to move on
- Opportunities to use skills and abilities. If staff feel that they are not being properly utilised, they will move to somewhere where they can be challenged to grow
- Contribution to the company’s business goals. Staff needs to see the value of their contribution to the bigger picture, otherwise, they leave.
- Empowerment. Having autonomy and independence gives workers the freedom to carry out their responsibilities without being micromanaged
- The meaningfulness of Job. Having a job that creates purpose and a sense of making a difference, and a contribution to something bigger than ourselves
- Financial stability. If there is a lack of security in the job along with trust and respect for management, staff will leave
- Company Culture. To ensure employee satisfaction and engagement, it needs to be inclusive, communicative and open as well as appreciative, respectful and caring
- Recognition of Employee performance. One of the biggest factors in employee retention is recognition of their work and performance.
The best way to reduce staff turnover is recruit right in the first instance, but most importantly to ensure that the culture, lead by top leadership and management, maximises the engagement of all staff.
For more information on the cures to staff turnover, contact Neil at 1300Hired.