Seven Reasons Your Employees May Be About to Quit
When a major global event occurs, it can influence the economy in a multitude of ways. In response, working professionals often begin to rethink their employment situation and priorities, as evidenced by the COVID-19 pandemic. In fact, according to a recent advisory firm’s calculation, one in four workers quit their job in 2021.1 In order to improve your organization’s employee retention, it’s important to understand why many workers decide to leave and what you can do as a business manager to avoid an increased attrition rate.
Seven Reasons Employees Quit
- Schedule Inflexibility
Today’s workforce wants flexibility in the workplace. Though you might fear a scheduling nightmare if you allow this, it doesn’t have to be that way. After all, each employee has different needs. For instance, a parent with school-age children will probably want to work during the day, but a graduate student might prefer to work at night. And if a position allows for it, providing remote work opportunities is a great way to improve employee retention.
- Excessive Workload
Pay attention to signs that your employees are becoming burnt out. For instance, you might overhear conversations where they don’t sound happy, or notice that attendance rates have started to drop. Whatever the case may be, giving workers an amount of work that can be reasonably handled in the time given can improve your employee retention rate. This works hand in hand with offering flexible scheduling opportunities.
- Poor Skill Set Match
If you want to reduce your company attrition rate, you might need to tap into skills you didn’t know your employees have, making skills training a great solution. Perhaps send out questionnaires to see what they would rather do or what they think they’d be good at but aren’t currently doing. Checking in with employees to discuss how they would like to use their talent can strengthen your workplace relationships and prevent employee turnover.
- Inadequate Compensation
Compensation is not generally a reason people leave their jobs. In fact, only about 12% of employees resign because of pay.2 However, if you believe compensation is an issue, review your budget. Look for unnecessary expenditures and find out how to channel that savings into employee salaries—chances are, you’ll be the better for it. Furthermore, encourage all workers to reduce, reuse, and recycle and provide financial incentives throughout the year.
- Lack of Benefits and Perks
Not all employees expect the world—it’s often the little things that make them feel appreciated. If you occasionally offer free meals or put up a complimentary coffee and beverage station, the investment can pay off in the form of a happier workforce and higher employee retention.
- No Advancement Opportunities
Not everyone hired will work out for your organization. However, you can improve the chance that your employees will stay if they know they can reach their full potential. If you have some workers feeling a bit restless or unengaged, offer professional development and advancement opportunities. From conferences to workshops to online courses to promotions, there are many ways you can provide your employees with the opportunity to advance their careers.
- Bad Company Culture
Your employees probably spend about a third of their lives at their jobs. While some of them may prefer just to work and go home, some might want to work where they can develop deeper relationships. Improving your workplace culture by organizing more social events and team-building days can boost morale as well as your employee retention rate.
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It’s important, as a manager, to develop strong business and leadership skills. Walden University’s Master of Business Administration (MBA) degree program offers the support and flexibility you need to earn your master’s while you continue to work full time. Align your online courses with your professional goals and interests by choosing from specializations: Healthcare Management, Human Resource Management, Project Management, or a Self-Designed option. And with online education, you can take MBA classes at whatever time of day works best for you as you gain the experience and credentials you need to excel in your field. Pursue your online MBA at Walden and prepare to take your career to the next level.
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