Many of today’s top companies face the problem of losing their best employees. So why do good employees leave?
Here are some of the most common reasons why even the best people quit:
Too little, too late
Salary and compensation are the top reasons employees leave. (See jobsDB Compensation and Benefits Survey Report 2015). Once employees feel they are not getting what they deserve, expect resignation letters to fly. Very often, companies wait until after receiving the resignation letter before offering salary adjustments. Unfortunately, this is often too little, too late. By the time the offer is made, the employee is either fully decided on resigning or has already accepted another offer from a different company. This also applies to non-monetary benefits too such as leaves, medical and dental insurance, double pay, bonuses, commissions etc.
Achievements not recognised
It is not surprising to see good employees leave the company simply because they feel that they are not being recognized for their achievements. We all want an occasional pat on the back for a job well done and when this does not happen, people also lose their desire to continue working hard. (Also recommended: Why we should strive to have happy employees)
Relationship with the boss
Relationships are an integral part of our social needs and if people can’t find it at work or from their bosses, they’re most likely to look for it somewhere else. Employees work with their managers or supervisors day after day and if they are unable to communicate with them, the work environment turns heavy befoe becoming toxic.
Work is no longer challenging
If work has become repetitive and ceases to present some sort of challenge, expect even the best employee to walk to the nearest exit and leave forever. It only takes months or a year at most to master skills and nobody wants to spend their whole lives doing the same thing over and over.
Ready for further career development
Another major reason some of the best employees leave their jobs is that they are ready to take their career to the next level. This normally happens if they feel that they have learned everything there is about their current work. Most employees gain confidence from having mastered a particular skill and if they are unable to find a place to further that skill in the company, they start setting their sights elsewhere.
The problem of talent retention affects both the company and the employee. When you lose people, you will have to work on getting their replacements. This means extra resources and costs for recruitment and training. Colleagues of the resigning employee would also be affected by extra workload during transition period and perhaps worsened morale. If you are having the same problem in your organization you might want to assess the situation and do something about it before it gets out of hand.
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