Employee Benefits

How to Keep Employees from Leaving

Female employee carrying box of personal items in an office setting.

Nearly every business struggles to keep and find talented employees. Employees quit their jobs for many reasons. Although some workers leave for family moves, others quit because they’re restless or unhappy. Business experts say today’s employees are looking for new challenges and career development options. In recent months, thousands of employees have resigned from their jobs. Many others are thinking about resigning, too. Here’s how to keep employees from leaving.

Recognize achievements, show appreciation

Employees want to work for an employer who believes in them and appreciates their contributions. Research shows that 37% of employees surveyed said such recognition was important to them. Workers who don’t feel appreciated or aren’t recognized for their work are less engaged and more likely to leave. The research also found that businesses ranking in the top 20% for positive employee engagement had 59% fewer turnovers. Studies show that the cost to replace one employee is approximately $15,000 for a position with a salary of $45,000.

Continually ask employees for their input on business decisions that affect their jobs. Encourage workers to share their ideas and insights. A simple idea may blossom into a larger one that impacts your business. Keeping communications open will help employees feel more valued and appreciated.

Support career growth

Due to the pandemic, many employees feel they’re behind on improving their knowledge and skills. Some long for a different job or career advancement. Find out the work interests and dreams of your employees. Then look for ways to develop career pathways to help workers pursue new opportunities. LinkedIn reports that 94% of employees surveyed would stay longer in their job if their employer invested in their professional development.

Create supportive culture

Understand the current business culture. Listen to employees’ impressions of the work environment. Find out what they like about the culture and what they’d like to change. Research shows that 46% of workers consider the company culture and values the most important factor. Work with team leaders and employees to identify ways to make changes that would create a more positive culture for employees.

Embrace flexibility

During the pandemic, employees appreciated the flexibility of remote work to balance their job and personal responsibilities. As businesses look to return to regular work schedules, employees say that flexibility is one of the most important perks of their job.
Employees looking for other employment say the main reason for the change is the desire for flexible and remote work. Companies can keep workers by giving employees options to balance their work and life responsibilities.

Connect and communicate

One reason employees leave a job is the lack of communication. They feel they aren’t told about business decisions or consulted about changes that affect their job. One study with employees who quit their jobs found that only 35% said they experienced transparent communication throughout the organization. Business experts report that employees feel disconnected and uninformed when they don’t receive regular communications from leadership. Because of this, workers end up losing connections with other team members and feeling uninspired about their work.

The research also found that 88% of highly engaged employees will stay at their organization, compared to 49% of disengaged employees who leave. So, one way to keep employees engaged is to share information regularly about business decisions, new customers, community feedback and employee rewards. Adopt a communications strategy to ensure that employees receive new information as soon as possible. Although following this strategy takes time, the rewards of engaged employees are worth it.

Sources:
HR Watchdog
Catalyst