Excellent and productive employees are very hard to find these days. Organizations, therefore, are focusing more on retaining their top talent to avoid further challenges in the way. Replacing them with new talent takes a lot more time and effort then you can ever imagine.
It would be best if you were keen on what is causing them to leave the organization and attempt to get it fixed. Here are some of the most common reasons for high employee turnover in the organization:
Reasons for High Employee Turnover
An Inefficient Hiring Process
Organizations nowadays are more focused on rapidly filling the open positions with the limited resources and time they have. This gives room to ignore the strategic planning to carry out the recruitment process and follow an inconsistent way to interview candidates.
This leads to the problem of the right people not getting hired, further resulting in employee turnover. To avoid facing this situation, you need to set up a structured program that streamlines each function, right from developing job descriptions to scheduling the interviews.
Less Challenging Work Environment
According to research, it is evident that employees are looking to grow their knowledge-base and work in a challenging environment continually. When they realize that they have fewer growth opportunities in the organization, they start looking for it elsewhere. Hence, you should be keen on whether your employees are satisfied with their career growth and take steps to guide them if found otherwise.
The Cultural Impact
Culture is the crux of any organization. With millennials entering the workforce, the company culture is going to be diverse than ever. When overlooking the need to integrate cultural diversity at the workplace, it will result in a high turnover rate. Ensure you foster a positive and inclusive culture for the diverse set of employees in your organization by redesigning policies and ensuring clear communication.
Unclearly Defined Job Roles
A specified job role is a significant aspect. It sets the ground for employees and managers to develop a detailed list of responsibilities expected from the employees to be fulfilled. When they are aware of what they need to deliver, then it will reassure and motivate them to perform better.
Inadequate Training
Employees nowadays expect good training programs, right from onboarding, to ensure they are well aware of the role they need to perform efficiently. Not just the new hires, but the existing employees as well, need constant training and development programs to keep growing in their careers. This reduces your turnover rate and plays a vital role in improving the quality of output.
Lack of Work-life Balance
Most of the employees pose the absence of work-life balance as a reason to leave the organization. Every employee has a lot of responsibilities associated with his personal and professional life, and striking a balance between them is a daunting task. As an employer, make sure you do not burden your employees with work and allow them flexibility while working.
No Proper Retention Strategy in Place!
One of the critical reasons for the high turnover rate is that you may not have an effective retention strategy. If an employee has an intent to resign, then you should have a conversation and discover the reason to see if you can fix it and retain him/her. Resignations are often considered conspiracies or disloyalty to the organization. Still, you need to understand that it may be the last attempt made by the employees to grab attention, fix their issues, and continue working after the discussion.
Bottom Line
The turnover rate can drastically impact organizational growth and bring them to a standstill. Retaining employees is a time-taking process, but you need to ensure that you do it right and take action before it’s too late.
