It’s nearly the end of 2020, and what a year it’s been. The entire world has changed the way we interact with friends and family, work, play, shop…and so on.
For many business owners, this global shift has made 2020 a year of reactivity rather than productivity. It’s been hard for many employers to look beyond maintaining their cash flow, dealing with fewer staff and customers. Plus, they have to navigate complex COVID-19 employment laws so they don’t get fined or sued.
But if you’re not focusing on ways to retain top employees going forward, you’re going to lose them as opportunities open up for them nationwide. So many employers are offering remote work. This means employees can live anywhere and still do work they love. As you start planning for 2021, I ask you: What are you going to do to keep your people engaged?
Here are four reasons people quit, followed by solutions to ensure you’re holding on to your best talent in 2021:
Reason #1: “People don’t quit their jobs, they quit their bosses.”
Have you ever heard this old saying? It’s true. You (or another leader) is one of the main reasons that people leave your company. This Frontline Leader Project survey collected data from more than 1,000 managers, senior leaders and individual contributors. They reported that 57% of employees have left a job because of their boss. An additional 32% have seriously considered quitting because of their manager.
You don’t have to be Miranda Priestly from The Devil Wears Prada to alienate people, either. Maybe you aren’t truly listening to your people. Or maybe you don’t offer praise for a job well done, or you lack emotional intelligence (EQ).
If you want to retain top employees, you should foster a positive workplace based on trust and respect to make staff feel safe, engaged, productive and creative. That’s why it’s key for bosses to learn and grow these skills by working with a leadership coach, pursuing education and training opportunities and asking for feedback from superiors, peers and their team.
Reason #2: You’re not offering learning and development opportunities.
To keep your top employees from quitting, you have to realize it’s not just about offering an attractive salary and benefits. People value other things, such as flexible hours and ongoing learning and development opportunities. Most people don’t want to do the same old thing every day for the balance of their career.
A 2018 survey by The Conference Board showed that only 32.6% of workers are pleased with their organization’s educational/job training programs. So think about what you’re doing to create a culture of learning and growth within your organization.
Let an employee shadow another employee and learn how to perform in a new role. Or give them an opportunity to work on a major project. One where they get to work with other people they can learn from.
That goes for you, too! I’m offering an upcoming course called the “Employee Management Success System” that can help you grow as a leader. In this 6-part series, I’ll teach you everything from hiring and retaining the best team to which employment laws apply to you and even how to handle difficult employee issues without lawsuits and fines. Learn more.
Reason #3: You hired the wrong person.
Sometimes, an organization is desperate to fill a role and hires a person who they think is “good enough.” Maybe an employee presents himself or herself in a certain way during the interview process, gets the job, and then shows their true colors.
I know I have made that mistake before. Let me tell you from first-hand experience that firing someone is a much harder and longer process than hiring them.
Or maybe you over-promised and under-delivered during the hiring process, or they didn’t feel comfortable during onboarding, or the company culture wasn’t the right fit for them…I could go on and on.
No matter the reason, the results are the same. The overwhelmed employee gets fired or quits—or worse, sticks around unenthused and unproductive, simply because they need the paycheck or don’t want to look for a new job. They create a toxic environment and productivity takes a hit.
That’s why it’s so important to properly define the job before you start interviewing, pre-screen potential candidates, have a standardized interviewing process and keep your job descriptions up to date.
Reason #4: They don’t feel a sense of purpose.
Having a purpose doesn’t necessarily mean your organization is on a social mission to make the world a better place (although that’s amazing if it is!). In fact, a LinkedIn study found that the three main factors that enticed purpose-oriented people to accept a new job were:
- Culture and values
- Mission and vision
- Products and services
So, helping your staff find their purpose is largely about having a strong company culture and values that’s aligned with your mission and vision. It’s about connecting your people with the work that matters to them. Enabling them to fulfill personal development goals and have meaningful relationships with others at the workplace.
Every organization wants to retain top employees, and creating effective strategies to do this should be high on your list for 2021. Focus on supporting your team, celebrating their achievements, connecting them with purpose and being the best leader you can! I can help set you up for success to recruit and retain top employees, so let’s chat.
Business Leadership, Personal Development, Team Management