At the beginning of 2021, a new trend of voluntary mass resignations swept through the business world. Coined the Great Resignation, it seems set to continue today.
In order to combat the inconvenience that comes with leavers, use our insights to be more equipped and proactive in keeping talent.
In our guide below, we will discuss six reasons why your top talent may be considering moving on. And we will also offer six useful tips for keeping them in your company.
Six Reasons Why Good Employees Leave
Their Work-Life Balance Is Not Optimal
The 2020 pandemic forced most businesses around the world to shut down or implement remote work for a time. While some employees may have struggled to adjust to this new way of working, it appealed to many others.
It is no coincidence that the trend of mass resignations followed the return to normal operations. Long work hours can have detrimental effects on the workforce.
Having discovered that their work-life balance was not optimal, some employees may be tempted to quit. This is to find an alternative company willing to accommodate the “new way of working”.
A Clash of Values/Visions
Do your employees’ values or career goals align with your company’s values? If not, this conflict may cause them to find another workplace where they feel more compatible. There is, however, another important factor that may make your employees want to ply their trade elsewhere – a lack of vision.
work attitudes
The forefront of technological advancement, or ‘bleeding edge’, is very appealing to high achievers with ambition and drive. If your company’s vision does not meet this need for progress, your top talent may leave.
This is also in reference to a company culture that does not align with the employee’s own vision and values.
Good Employees Quit When They’re Not Engaged
While employee engagement can greatly enhance workplace productivity and job satisfaction, the reverse is also true. When employees don’t feel engaged, there’s less incentive for them to stick around.
Several factors can cause this, such as a lack of appreciation or job dissatisfaction. And disengaged employees are more prone to ‘quiet quitting’ as well as actual quitting.
New Job Offers Far Higher Remuneration
Sometimes it’s as simple as a higher remuneration package, or better perks. Money talks, and if your employee’s salary is not up to par, you won’t have to wonder why good employees leave.
It’s simple economics – your top achievers will go where they feel valued. And they see their salary as a sign of that. A simple job analysis will quickly identify if their payment matches their performance.
Poor Management
Poor leadership skills may often be the key reason why good employees quit. This can be due to poor communication, or failure to give constructive feedback.
Micromanagement is another culprit that can cause resignations. A good leader knows when to step back and let a top-performing employee shine. In this way, stronger management can lead to a more positive work environment.
Lack Of Room for Growth
Are you affording your high-performing employees enough opportunities for growth and advancement within the organization?
A lack of growth opportunities can be a great motivating factor in making good employees leave.
Top Six Tips to Retain Your Top Talent
1. Engage with Employees
Create a welcoming atmosphere for new employees right from the hiring process and onboarding stage. And look at ways to re-engage existing staff on a regular basis.
Foster an environment of open communication so they feel that their concerns are heard. Encourage interaction between employees and their coworkers and managers.
2. Offer More Flexibility
You don’t have to operate as a fully remote company in order for your staff to enjoy a good work-life balance.
You can easily implement a hybrid model, where staff work remotely, or part-time. A few days each week in-office and the rest of the working remotely is one example.
3. More Autonomy/Creative Freedom
When your staff feel challenged, they grow. And so does your business. Keep them challenged and motivated by giving them new development opportunities, more responsibility, and autonomy, And greater creative freedom. Institute job enrichment programs to maximize their potential.
4. Communicate with Your Employees
Discuss the workplace policies that employees find too rigid and stifling. Communicate clearly and encourage your employees to do the same.
Communication is the key to retaining good employees. It resolves workplace issues before they become a bigger problem. If your staff feels heard, and the changes are implemented, this may cause them to stay. And be more invested and more productive.
5. Show Your Appreciation
Don’t let employee recognition be the missing piece in your strategy to combat the voluntary resignations of top talent.
Show your appreciation for their hard work within the organization. Institute a system of perks and rewards for their achievements. But most importantly, tell them when they’ve done a good job during performance reviews, etc.
6. Identify Potential & Invest in Your Top Talent
Identify the potential and leadership skills in your employees. And invest in your most promising employees.
Develop a growth mindset and show them that their professional development and career advancement are important to the company.
This can be in the form of courses, certifications, and further education. You could even consider mentorship programs within the organization.
This will also allow you to create a work environment that is better equipped to select candidates for future succession planning for leadership roles.
Final Thoughts on Why Good Employees Leave
Has high levels of employee turnover wreaked havoc in your organization? Despite there being several reasons why good employees leave, it doesn’t have to be your company’s story.
Your employees may decide to resign for a number of reasons. These could be attributed to the employee’s salary, company culture, current position, work environment, etc.
Using the tips mentioned above may help you with higher retention rates and increased workplace productivity.