It’s never a good sign when employees abruptly walk out, especially when organizations worked so hard to recruit them. The sources of attrition aren’t always obvious, but it’s important to identify them. Unchecked, they stifle company growth and push top performers away.
It’s simple: The best recruiters won’t offset rampant turnover. If there’s a consistent set of reasons why employees quit, businesses can’t offset it with perks. And if new employees have a grossly different experience from what they were led to expect, it could hurt the company’s brand.
It goes without saying that employers need employees to operate. Historically high turnover suggests organizations need to do more to retain workers.
Why do employees quit?
In recent years, more people have given up on keeping their expectations low. If a business’s culture and experience fall short, most employees won’t stick it out to retirement.
According to a Pollfish survey of 1,000 U.S. employees commissioned by Paycom, the top reasons employees quit are:
- poor management
- low compensation
- weak benefits
- little appreciation
- lack of support
The same survey revealed 55% of workers said their manager or company could’ve helped them stay. In other words, over half of all resignations could be prevented.
How can businesses retain employees?
Overcoming turnover requires an understanding of why employees stay. Stay interviews give HR an edge in retention by giving insight into what empowers employees, not just what frustrates them.
But employers need to approach the uncomfortable subjects, too. If bias, toxicity or even a problematic manager threaten employee satisfaction, stay interviews can give HR a chance to intervene before it’s too late.
Finally, HR should also identify missed opportunities. Even if a specific issue isn’t pushing people away, a lack of engagement or development could hurt retention all the same. Ask employees about initiatives like:
Above all, prioritize feedback. Most employees will feel respected when they feel heard.
How can HR technology address turnover?
The right HR tech helps organizations understand and empower employees on a deeper level. Use a survey tool to help understand why your workforce stays and what excites people about their jobs.
And for more streamlined communication, consider tech that lets workers easily and efficiently speak with HR or get routed to the best person in the company to help them.