In today’s competitive job market, it is more challenging than ever to attract top talent and retain them for the long haul. It is not uncommon for the best employees to always be looking out for greener pastures. With so many job options and the vast opportunities to work remotely for companies worldwide, it is difficult to keep your top employees engaged and happy. Here are a few of the top reasons why your best employees may suddenly jump ship and go elsewhere.
It is understandable that the best employees in their field are going to demand to be compensated fairly for their talents. In addition to providing a competitive salary, business leaders need to make their top employees feel valued in other ways. Bonuses and profit-sharing programs are both ways that you can financially compensate your leading employees for their contributions to the company’s bottom line. If providing additional money is not an option, managers can also compensate employees with additional time off from work, according to Classy Career Girl.
It is not unusual for long-term employees to eventually feel stuck in their positions. According to Instructure, 70 percent of employees were willing to change companies for one more focused on their development. Nobody wants to feel bored with their job. Savvy business leaders understand the importance of continually challenging their employees with new tasks and goals. This will also show that you value the contribution of your most trusted employees, increasing their overall satisfaction with the job. Motivated and productive employees don’t want to feel trapped. Instead, they want to feel as if they are continually moving forward in their overall career trajectory.
Do not underestimate the power of a positive company culture. A work environment that is conducive to personal growth and that encourages autonomy can go a long way in overall employee satisfaction. Management should be accessible, and corporate directives should be clear. Aside from the business practices of the company, employees continually rate job flexibility as an overriding perk when looking for the perfect job. According to Suti HR, creating a winning company culture is key to your employee retention efforts.
Paying attention to these three factors will help to reduce employee turnover and keep the best workers committed to their current positions. Rather than going through the expense and effort of recruiting new employees, it makes more sense to hold on to the ones that you have.
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Breaking taboo called FAILURE by talking openly about it, sharing my fail stories and lessons that I learned on my way back from hell. I had four successful companies that at one time all went bankrupt. You could say that I went from hero to zero. But I managed to survive! Down that road I became Fail Coach not by degree but by failing personally and professionally, learning from my failures and growing. If you are looking for a coach try not to find one with shiny diploma hanging on his wall but one that has personally gone to hell and back.