How To Retain Employees Throughout
'The Great Resignation'
‘The Great Resignation’ to the huge surge in people deciding to quit their jobs since the 2020 Covid-19 pandemic. However, many of the things that lead people to quit their jobs now could be avoided, with 52% of those who quit saying that their manager or company could have done something to prevent their exit. Here is People Vision HR’s quick guide to combatting this trend and reducing staff turnover.
Why Are So Many People Deciding To Quit Their Jobs?
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Workism – workism is the belief that your job defines who you are. High performers consider it important to work for a company and in a role they can be proud of. For example, LinkedIn’s Talent Trends Survey found that companies with purposeful missions saw 49% lower employee turnover rates.
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Pay and Rewards – The main purpose to have a job in the first place is to earn money. However, many people feel like they are not paid enough for the work they do – often because they take on many extra roles above and beyond what they are expected.
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Overwork - Burnout happens when employees are asked to perform tasks without being given the right resources to succeed or when they consistently face more daily stress than they can manage. The emotional and physical exhaustion combined with a sense of hopelessness, leads many to give up completely.
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Work/Life Balance – Everyone wants to make the most out their time that they have free from work – younger employees often have vibrant social lives, whilst others may have family commitments. When work starts taking over their free time, this can be overwhelming and make people resent their work.
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Lack of Training – New employees who haven't received adequate training may find their already shaky confidence is hit even more as they make errors and mistakes. Fear of failure can cause a new employee to abandon the position, resulting in increased turnover. This has been exaggerated even more since Covid, as businesses are reluctant to commit to big projects.
How Can Managers Reduce Staff Turnover?
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Listen and Take Action - Speak with employees to find out how they are feeling and learn what would make the most positive impact in their working lives. Opening up channels for honest feedback shows that you value their needs and gives them a say in how the organisation works.
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Show Your Core Values - Show proof of your vibrant culture and corporate values in a way that can be physically viewed. Show that you are an exciting and ethical organisation that employees can be proud to say they work for.
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Consider Flexible Work Options - If you can’t enact a fully remote setup, consider committing to one or two days of staggered remote work schedules or even a no-meetings day every few weeks so employees can gain some flexibility. Also consider allowing flexible working hours for those who have other commitments.
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Provide Mental Health Support – Employees today are more aware than ever of their mental health needs, so employers must know how to provide the right support in order to keep employees happy and healthy. People Vision HR can provide your organisation with mental health training.
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Training and Upskilling - Training provides opportunities for career development and job enrichment – both of which are likely to increase motivation and job satisfaction while reducing turnover. Additionally, training your senior staff on ways to lead teams more effectively, manage conflict, and improve their overall managerial skills could help to reduce company turnover. People Vision HR can help you with this with our wide variety of training courses.
We hope you enjoyed our article please call us on 0345 4599710 or email admin@pvhr.com where we will be happy to support you.
