Employee retention is low in younger generations today which is why more millennials are bold in making career changes. If your company is facing difficulty in retaining your employees and maybe you’re probably wondering why your workers continue to leave you, then this article is for you!
Don’t worry because there are ways to avoid this and things you can do to help improve it, which will help you save more money and time in the long run.
With that being said, here are the top reasons why employees choose to stay with a company and ways for you to achieve them.
1. Their work has a goal or significance
Most long-term employees stay in a company because they’re comfortable working there. Amazing employees have unique skills and talents; they’re always looking for ways to excel, improve, and be more successful by working a job that has meaning and purpose.
They want work that somehow brings positive changes and influences in their lives. They want to flourish and be a part of something that’s original and ahead of their rivalry.
2. Their employer recognizes and appreciates them and their work
It’s important for every employee to feel that their work is always recognised. It’s a big thing for them already knowing that their work is recognised and they feel they’re important to the company. Otherwise, they will look for a new position where their job will be acknowledged.
If you’re the boss, recognition is not always about money or salary bonus, just letting them know that you appreciate their work or you give them enough praise for doing a job well done is already good for them.
3. They can trust all the leaders of the company
Employees will definitely stay longer with the company when they know they can trust the business and the leaders they work with. This is why it’s important that you also hire trustworthy and objective HR support people for your company to foster a fair and honest workplace. If they can’t trust the people they work for and they work with, they won’t have the passion for the business. As leaders, you need to be the best example for those who you work with so you can have the right attitude and culture throughout the company.
4. They see that the company’s culture is irreplaceable
When the company has a culture that’s honest, empowering, trustworthy, and free of drama, it turns into the most effective employee-retention tool of a company.
However, it’s not easy to keep a company’s culture pure since it’s the most difficult and never-ending work of great leadership. When you as the leader keep it pure, the culture successfully attains a uniqueness that can never be replicated.
The asset of your company, which is your employees will surely stay because separating from the culture is an extremely professional and personal price to pay. And if they do separate, they will long for the feeling of being a part of it once again.
5. They really do care about the company
When your employees are emotionally invested and they actually care about the organisation, they will most likely stay with the company for so many years. Genuinely caring for the company only means that they are passionate about what the company does, and they are also dedicated to contributing towards the goals of the company and its development.
It’s not possible to make someone passionate about something, it will only depend on the individual.
6. They are always being treated fairly
People will quickly leave the door when they feel and know that they’re not treated fairly. This is why it’s crucial for every company to make their people feel valued and that needs to reflect in the amount they’re earning, the benefits, incentives, and their workload.
If you don’t treat them with fairness or they’re presented with a much better offer on the table, they will most likely see that the grass is greener on the other side and move forward. There is no need to stay when there is something better around the corner. You want to make sure that there’s a right balance in everything and in their work-life for them not to think about the grass being greener on the other side.
Everyone should be treated fairly and nobody in the team gets treated specially over the others. People must be given rewards according to their efforts and achievements, whether big or small.
7. They receive a secured and fair compensation
This is the last on our list and you will notice that this reason is related to money/benefit. Why? This only enters the picture when one or more of the things we mentioned above fall apart.
Money will only be a reason when fairness in compensation is destroyed. Remember that hard work and relentlessness, if continuous, deserves to be equally compensated. Make sure that you always do open and ongoing discussion about individual and company performance, it’s highly important.