A good employee is a great asset for the company’s growth and development. But it’s a 2-way effort. Employees build the company, they are the blocks that come together to form the company. Why do we only expect that an employee is responsible for all the ups and downs a company faces? Is it just his/her responsibility? Isn’t the company equally responsible? What about the employee? Have we wondered that Is he/she happy working in the company? Is the employee satisfied with the salary? Is he/she comfortable with the working hours? Why are they leaving, and what is the reason for their unexpected, sudden resignations & turnover? Is it because of the unmatchable, strict deadlines or because of non-cooperative bosses? Let’s crack these questions!
According to the statistics gathered in recent times, it is seen that around 31% of the employees quit their jobs in the first 6 months. What could be the reason? Around 20% feel that the technology provided is not adequate and is hampering their growth.
25% of the employees quit because of no professional development. 30% feel the unsuitable work culture is a major reason for employee turnover. 35% quit because of consistent pay, no raise, and no incentives.
Blame game (blaming the employee for each & everything), strict & dull work settings are not loved by anyone.
The main reasons for employee attrition:
Strict deadlines
It is definite that there has to be professionalism and pressure towards the employee for the work, but some amount of liberalism is a must. Make your employee your family, serve them love and a healthy environment and then see the fruits the company earns. A positive and breezy environment assures good work and dedication towards the company to achieve great heights. ‘The employees make or break the company.’ Have a flexible work culture for the employee.
Timely payments
The employees work for wages, if payments are not issued on time it may hamper the employees’ work and ultimately they may decide to quit the job as their efficiency is not timely paid which deprives job satisfaction. This is one of the major reasons for employee retention.
Lack of growth
One such big reason for employee attrition can be deprivation in growth. An employee wants growth in his career which acts as a motivation booster. A strong and impressive portfolio marks an employee’s dedication and growth. Growth in terms of high designation or higher wages affects the willingness of an employee to work for the betterment of the company. If there is no progress the employee is unmotivated and chooses to quit. To keep them motivated a considerable amount of growth in position, as well as salary, is appreciated.
No opportunity for decision making
It is important to give your employee some freedom to decide for the betterment and growth of the company. After working for some time in the company the employee believes that he/she is part of the company and can make some not-so-important decisions independently. If the company is not affected negatively by the employee’s decision, then he/she should have some power to make decisions to make them feel they are an integral part of the company.
Overwork / No time limit
Keeping your employee’s work syllabus in mind it’s important not to over pressurize the employee with loads of work. Once in a while for the company’s sake is not an issue, but making it a regular practice is harmful. Keeping the office timing in mind and releasing the employee on time is a good practice. The employee feels the company understands him so even at times even the employee goes beyond comfort and works for the company. The employee will never think of the great resignation and burnout from the company if the working hours and workload are comfortable.
No Incentives
If the company is not worried about its employees’ hard work and dedicated work culture and doesn’t appreciate and applaud their efforts it can be a major step back by the employee and a strong reason for great resignation. The heads should understand that everyone needs applause for good work. Appraisals are a great medium for employee retention, motivating them to strive high in future endeavors. No incentives mean no motivation, and no job satisfaction resulting in great resignation. Therefore a good and considerable hike is essential for both the employee as well as the company.
Loss of Identity
Working for a company doesn’t mean that one has to lose his/her identity. Losing one’s identity means losing self-confidence and self-esteem. For the growth of the company, the employee needs to be confident and high on self-esteem to showcase his/her talent. This may eventually lead to great resignation. It’s the company’s duty to accept the employee with its original identity and not try to change it.
“Make your employee happy.” Making them happy is the key to a fruitful and sweet business family and a positive work culture.
Tips for employee retention, giving them job satisfaction.
Investing in your employee
They are a valued part of your company reward them and their loyalty with incentives and perks.
Be a little flexible
Don’t be rigid, give your employee adequate space so that they can work freely in a relaxed work culture rather than a suffocating one.
Allow them to be in new ideas
Let them give their opinions and accept their thoughts in your company to encourage them and discourage resignation.
Timely incentives & remuneration
Give your employee the reason to work hard for the company’s well-being. Timely increments are a great dose to charge them up.
A friendly work culture
Treat your employee as your friend so that they feel free to share their opinion and develop self-worth for the company’s sake.
One of the most efficient and effective tricks to reduce employee retention is the concept of exit interviews, a model proposed by QaizenX. The vision behind it is to have a talk with the employee and gather valuable feedback before they leave the company to know the reason for their turnover. Proper analysis of the employee’s switch can be a savior to avoid future exist. There can be a number of reasons like unsuitable work culture or not cooperative team or maybe appraisal issues which can be concerning for the company. The improvised actions may help and reduce future exist and assure a healthy and friendly work culture for its employees.
QaizenX exit interview model can be truly advantageous for companies that are facing problems of frequent employee turnover. So, to adopt the QaizenX exit interview model in your company’s work culture and see a visible difference in lower rates of employee turnover.
These employee retention tips and tricks are a true savior for the company to keep the employee happy. Incorporate them and share 2-way happiness. They will surely do wonders!
