As mentioned in the preceding entry in this series, staying in touch with your employees can ease a lot of a company’s retention issues. It allows management – ahead of time – to identify those employees who are unhappy and most likely to leave. It also affords the opportunity to remedy the situation before it is too late.
One of the best ways to accomplish this goal is to hold so-called “stay” interviews ahead of the “exit” ones. Unlike the latter that are usually somewhat negative, this former type of interview lets your HR team understand why your satisfied employees remain as well as identifying those who are not. You never know, you may discover some of the reasons that your employees may be abandoning your company. Ones such as these:
1. They are Bored and Unchallenged
Many employees spent a lot of time, effort and money getting knowledge, skills and degrees in fields of study that interested them. They then go on to find jobs that will allow them to use those skills. Tasking them with uninteresting or transactional work will not only stifle their passion for the job but directly lead them to find another one. It is a truly sad state of affairs for any employee to be bored and unchallenged at work. In fact, no employee will stand for it for very long. Working closely with your team, keeping them informed as well as challenging them to perform is the best way to keep them engaged in the project and in the company.
2. Their Self-Confidence is Stifled
In a similar vein, stopping employees from utilizing their significant skills and abilities in the workplace reduces not only their sense of accomplishment but also their self-confidence. When exercising their skills, employees become even better at them, stretch their current abilities and grow any burgeoning talents. Stifling this initiative is a sure way to drive good employees to the competition. The lure of opportunity also enters into it. If employees are not allowed to demonstrate their prowess in work-related skills, they may feel that they are merely spinning their wheels with little hope for advancement.
3. They Feel Unconnected from the Big Picture
In the simplest terms, managers – at all levels of the company – must take the time to meet with and explain to every subordinate the relevancy of their job as it pertains to the overall strategy and business of the company. Much as John Donne was involved with mankind, this process connects your employees with the company. If you fail to make the connection, do not send to ask for whom the bell tolls, it will be tolling for your company. An apt analogy for any company that fails to retain its most qualified and talented employees.
4. No Transparency in Company’s Financial State
It is simply foolish to believe that an employee will place the long-term needs of the company over their own. Any signs of financial instability – from lack of sales and reduced work hours through layoffs and salary freezes – will result in stress and worry in your best employees – and a tendency for them to find greener pastures. In short, changes in the financial status of the company – for better or worse – should always be transparent to those most intimately involved – that is, your employees.
5. You Offer a Poor Corporate Culture
For whatever reason, some individuals will never fit into any corporate culture. Still, this does not mean that you shouldn’t strive for that end. Doing so will pay dividends all across your business. Your company must develop a corporate culture where employees are appreciated and not demeaned, treated with respect and not scorn, as well as provide them with compensation, benefits and perks. The costs for such activities as team-building, corporate events and even celebrations are relatively minor but they make management accessible and keep everyone on the same “cultural” page.
For more on corporate culture, download this complimentary guide, People-Centric Recruitment Guide: Texas Roadhouse’s Approach for Building and Preserving Company Culture
All 5 reasons indicate that the wrong people are being hired.