As human beings, it is in our nature to keep hunting for the next best thing if there’s even the slightest possibility of getting it. Take a look at online casino gaming, for example; the most avid players are usually members of leading platforms such as Vulkan Vegas Slovakia to ensure they get the best of the best at any given time. Depending on the player, it could be about the immersive nature of the games on offer, general user experience, or bonus perks in the lobby. If a player isn’t happy with what is on offer, they will swiftly move on to another platform until they find what tickles their fancy.
This brings us to the job-hunting scene in Slovakia and the rest of the world. Looking for a better job doesn’t stop even when you finally get employed, especially if you don’t like where you currently work for one reason or another. In fact, most people are known to actively search for jobs when they are already employed, and the hiring companies love it – they are more likely to hire a currently employed person than one who isn’t.
However, not everyone is as enthusiastic about employees hoping from one job to another. High employee turnover is a nightmare for many organizations. Finding the right people to help run your organization takes a lot of time and resources. Taking this into consideration, organizations should do all in their power to retain their best group of employees. Today, we look at the leading causes of employee turnover and how companies can retain employees.
Toxic Work Culture
All too often, employers fail to grasp the concept of toxic work culture. Instead, they turn it around to seem like the employees are the ones who do not fit the work culture they have already set. If a workplace culture continuously sabotages morale, scares new talent, and actively drives people away, those are the familiar tell-tale symptoms of toxic work culture. So, of course, with such practices in the workplace, it should come as no surprise to any employer when their retention rates suffer.
A toxic work culture emanates from the leadership of the organization. As such, most solutions related to a toxic work culture should come from the administration. A comprehensive corporate culture audit will also highlight the common issues and their origin and suggest the most appropriate changes. Some of the most effective ways of conducting a culture audit include:
- Customer reviews;
- Interviews/focus groups.
Should the leadership embrace the findings of the culture audit, then the organization will likely see fewer employee turnovers.
Poor compensation ranks very highly among the reasons why many people decide to leave organizations. This is especially common with young workers who are just starting their careers. They value the money most as they lay the foundations for their future. Yet, the poor compensation point also cuts across various age groups. This is because many employees look at compensation packages as a means to show the value of their contribution. Employees who do not feel valued will likely look at other organizations.
So, how can employers ensure that their employees are well compensated? Start by always ensuring that your company provides annual base pay increases. You should also continuously monitor what other companies in the market are paying and the bonus packages they are offering. Try to meet the market standard for annual base pay and bonus packages as much as possible. Identifying your top performers and compensating them accordingly will likely play a vital role in ensuring you retain most of your top guns.
Finding a purpose or a challenge in the workplace is also vital to many people. Employees can find the workplace boring for several reasons. One of them is that they feel their talents are being underused. It may also be that their talents and what they do in the workplace are entirely different.
In this instance, employers can give their employees more challenging tasks if they find the ones they’ve been doing too easy. You may also investigate the source of their boredom. Do they feel like they are stagnating in one role for too long? Do they need extra training to increase their capacity to carry out tasks? Finally, create a specific purpose for the whole organization so they may feel like their work bears true meaning. Employees draw motivation from what they do, and employers must stress how important that work is.
While there may exist a toxic work environment, toxic bosses are often described as a bigger nightmare. Bad bosses can be in many forms, shapes, and sizes. Toxicity is exhibited through a boss who does any of the following:
- Takes credit for other people’s ideas;
- Consistently rude and looks down upon other staffers;
- Fails to recognize the contribution of other employees;
- Playing favorites ;
However good these managers are at their work, the organization most definitely needs to identify and weed them out ASAP.
Retaining your workers ultimately comes down to listening to what they have to say. First, understand why most of them leave, and you will be one step closer to finding solutions. From there, understand why they stay; take the good and weed out all the bad. Only then will you start seeing sufficient changes in your employee turnover rate.