Employee retention is as a big a topic as recruitment these days and is the topic for today’s post. Remember back in the day when your mum and dad thought that the job you had ‘passed’ the interview for, meant that you would be happy for life? All settled in a good career with two happy parents gloating how Jane or John had done so well for themselves.
Times have changed, haven’t they? It’s rare in today’s business economy for employees to stay with one company forever. Though 25 years ago that was normal, today, research suggests the average person changes jobs 10 to 15 times during their career. Some change!
In 2017 employers are dealing with a multigenerational workforce, more career opportunities than ever before for candidates, a global skills crisis and an online world that quite frankly has changed everything significantly.
In today’s posts, we want to explore the main reasons why employees currently leave their employers; which surprisingly are many and varied. We also recommend you take a look at our 2017 Workplace Survey Report which collates the thoughts of employees and employers to identify trends in the workplace for further insight.
1. Their Own Life Events
As human beings, we go through many stages during our adult life. From meeting the significant other of our dreams to leaving them with the resolve to make a fresh start at the other end of the country. No matter how good your company culture is or how above average your remuneration package compares to others it’s unlikely that you will be able to change their mind.
It’s common as well for family orientated millennials to want to spend more time with elderly parents or take a career break.
The truth is, be prepared for any of these events to occur. If employees are great hires and depending on the size and scope of your organisation is there an option to backfill a vacancy or allow an individual to work from home?
2. Poor First Line Management
As an established commercial recruitment company of 25 years standing, one of the most common reasons given from people about why they want to leave an organisation is because of a poor relationship with their direct line manager.
Hopefully, that doesn’t happen in your organisation?
Employees are human and respond well to direction and motivation, and as a manager, in an organisation, these are ‘must have’ skills to develop. In a recent post on SME Insider website earlier this year the Federation of Small Businesses reported their findings that SME’s lack management training.
The report even cited that perhaps the evident lack of management capability and leadership skills could explain why almost half of UK start-ups fail in the first three years.
If a brain drain is happening in your company, it might be time for analysis as to why?
Though money is not always the driver many people think it is, the well known saying of a “ fair days work for a fair day pay”, does spring to mind. Are you paying the going rate and on par with other companies in the area? If not you will eventually lose staff. Download our latest salary guide on our blog here to find out if your salary is in the correct range.
Abraham Maslow, the famous psychologist, sums it all up really well with his research on our hierarchy of needs. Our base level starts with food, water, and shelter and moves up the scale to respect and achievement. Focus on all of these levels, and you will be doing almost everything you can to retain your employees.
4. Training and Development
In an earlier post, here on Lucy Walker Recruitment, we reviewed the changes in our workforce and how Gen Y/ Millennials have a different view on career development.
If they don’t feel stretched or can’t see a career path ahead of them, they will leave. As this group will make up the bulk of our workforce in the future, it’s a good idea to ensure you have a documented career path for everyone in your organisation.
5. Culture Fit
In today’s HR and recruitment circles, the buzz word is a culture fit. Company culture is more important than ever when it comes to happy and motivated employees. It’s not for anyone to say one culture is ‘bad’ and one ‘good’ it’s more about how someone will fit into the ‘groove’. Chatting to a friend of mine recently she shared that she had moved from one organisation where ripped jeans where the order of the day accompanied by a very laid back approach to business life. To another where tea and cake were served on a Friday and the whole team had an organised social gathering.
In one culture she was dreadfully unhappy, and yet the other was perfect for her.
Embrace your culture and make sure that it’s part of your own recruiting process.
At Lucy Walker Recruitment we have been helping candidates develop their careers, and organisations recruit employees that stay for 25 years. We can help you too. Call us on 0113 367 2880 or our Manchester office on 0161 661 4421.