Companies feel insecure in confessing that they have increased employee turnover issues. A large number of organizations has to deal with employee retention which is one of the biggest challenges. Nonetheless, the key question is how organizations can cope such condition and maintain different approaches even though they are losing their employees at occasions. Here, it’s critical to understand an employee leave. Employers must know or somehow try to recognize the reasons of employee leaving them.
Subsequent points would highlight the major ten basic factors forcing an employee quit job.
The employee turnover rate increases when employees:
· Experience low or poor work life balance in their organization.
· Get zero growth opportunities.
· Have the feeling that their pay is justified if compared to their productivity
· Find better job offer in terms of pay package and role offered.
· Have to work under huge work pressure.
· Have work conflicts with team leader/manager
· find lack of training and development occasions.
· Get no opportunities to show their actual skill for which they were hired.
· Get no recognition and appreciation for their contributions.
· Work under a rude and unfriendly manager.
· Compare the salary with others working in other organization with same experience and skill level and find drastic difference.
What’s working to retain Employees
It is crucial to recognize the loopholes immediately and ensure that management is ready to follow the basics of employee retention first, then proceed for the advance strategies. It would effective if organizations:
· design a significant and impressive job roles considering what is required.
· offer pay package a notch above as per the current market trend.
· offer reasonable incentives, bonuses and, rewards.
· let the employees feel they are crucial assets to the organization.
· provide flexible hours.
· offer a long-term benefit package.
· provide reimbursement on self-growth courses.
· observe satisfaction level of employees.
· arrange counselling sessions on regular basis for self-growth of employees.
· discuss a succession plan if someone has already decided to quit.
· discuss the future opportunities lie being in the organization.
· offer cash as reward.
· offer stock options to key employees.
To better understand what to implement as the best employee retention methods be it work life balance or other aspects, keep yourself in the shoes of your employees. This way you would face least attrition rate in your company.
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