As the unemployment rate continues to remain at historic lows and finding new employees becomes increasingly difficult, companies are having to compete with each other more intensely for quality employees.
Businesses are finding that they have to do more to keep their best employees happy and willing to stay with them. So understanding why employees quit is a very important topic.
To help business owners and managers understand better why employees leave a company, here are some of the key reasons.
Too Much Stress
Stress can come in several forms and be generated from multiple sources in the work environment. It can come from co-workers, overbearing managers, too much work, or not enough work as well. What is at the heart of all stress however is a sense of no, or not enough control over your work situation or your job performance.
When you feel helpless to perform or change things, you become stressed. Insurance companies now understand the power of stress in affecting a worker’s happiness and ability to perform their job. The top insurers now offer companies tools to help their workers with stress on the job. If a worker is stressed consistently, it is not unusual for them to want to leave the company, even if it is a high-paid job.
Lack of Appreciation
This reason ranks high on the list because it is so common. Today, employees want to feel that their contribution to the company is appreciated. This means acknowledging them publicly and privately as well as rewarding them when their success benefits the company.
It is no longer good enough for employers to take the position that employees should be happy because they are being paid a salary and are not entitled to be rewarded either verbally or financially above their salaries. Management should make it part of their core business approach to show their employees appreciation, and let them know that they are critical to the company’s success. If not, they will find their employees moving to other companies where this is a standard procedure. And it will likely be a competitor.
Lack of Responsibility
When you give an employee responsibility, it shows that you trust that person. Contrary, if you don’t give them responsibility, it shows a lack of trust. Everyone wants to feel being trusted. In order to keep your employees happy, you need to find ways to give them responsibility. It will also cause them to feel more responsible for the success of the company and consequently, they will work harder.
No Opportunity for Growth
Every employee wants to progress at your company. They typically understand that moving up takes time and that trust and a demonstration of the skills is needed. But if the road to a better job title, more money, and more perks is blocked, most employees eventually lose interest and look for job opportunities where they can progress. So be clear with your employees that you want to promote them and tell them what they need to do to get promoted. And make sure the path you lay out for them is achievable, because to step a climb will also cause them to lose interest and take another job somewhere else.