What are the Common Reasons Behind High Employee Turnover Rate?
"Employees often leave their companies when they feel like they’re no longer getting more than they’re giving to work. They also lose their loyalty when they are not valued and recognized. There’s no quick fix to these issues, but the most effective employee retention strategy is creating an inclusive workplace where people feel heard and important.
I shared some insights along with other specialists about the common reasons behind high employee turnover rate. Check out this article!
Selected Content from the Interview
Overburdened and Unappreciated
Employees often leave their companies when they feel like they’re no longer getting more than they’re giving to work. They also lose their loyalty when they are not valued and recognized. There’s no quick fix to these issues, but the most effective employee retention strategy is creating an inclusive workplace where people feel heard and important.
Another reason for a high employee turnover rate is when we frequently overburden certain roles within a company. These roles become a catch all because of their skills, connections with the customer, etc. Looking intentionally at the expectations of certain teams can help to recognize roles that need restructuring to improve your employee retention.
Start building better relationships with your team and maintaining them. Remember your employees are people with values, skills, and needs. As an employer, you’re focused on meeting business objectives. Most of your employees are more motivated by recognition, using their innate skills, being challenged, and having autonomy to use their gifts and ideas.
They’re motivated by fair and appropriate compensation for the value they’re providing. When these needs aren’t being met, over and over again, employees get fed up and stop trying. Our business success is dependent on the work our people do every day. We need them to come to work with their best ideas, their energy, and their willingness to speak up.
Most people who voluntarily leave jobs are feeling like outsiders, like they are wasting their time and effort, or are completely burnt out from constant pushing. It is one thing to say that your people matter. It is a completely different thing to show your people how much they matter through your actions. Every interaction with your people contributes to their retention. You get to influence whether they are feeling heard or ignored.
(c) 2019 - 2024 Katie McLaughlin, McLaughlin Method
