One of the biggest struggles for businesses of any size is employee retention. The cost of recruiting and hiring new applicants can be expensive, so retaining the best employees on staff is important. According to the Bureau of Labor Statistics, employee tenure is at an average of 4.6 years, which is down from decades past. Human resources should aim to identify the four main reasons that employees leave and address these issues in their own business.
1. The Job Wasn’t What They Expected
One of the biggest reasons that employees leave their positions after a short period of time is because their expectations of the job didn’t match up with the reality. The Center for Association Leadership remarks that, “More than six in 10 turnovers begin with some kind of post-hire shock.” To combat this, hiring managers should be very straightforward about the concerns of applicants and clearly communicate the job description before hiring is confirmed.
2. There Aren’t Opportunities for Advancement
Another common reason that employees leave their current place of work is because they don’t feel like there is sufficient opportunity to advance. If they have been in the same position for years without even the possibility of a promotion, they may start looking elsewhere for a career upgrade.
3. They Feel Their Work Isn’t Meaningful
A Gallup survey quoted in Forbes remarks that, “The best workplaces give their employees a sense of purpose, help them feel they belong and enable them to make a difference.” Without this, employees may think that their work isn’t meaningful, and they may not feel fulfilled at the end of the workday.
4. The Workplace Doesn’t Offer Fringe Benefits
Finally, many employees leave not simply because salaries are higher elsewhere but because they aren’t currently getting the fringe benefits they desire. These might include flexible hours, overtime pay, sick leave or the option of telecommuting.
By addressing these four main reasons that employees leave, companies can retain their best staff for longer and save money by recruiting, interviewing and hiring new employees less often.