Employees are an important asset to any business organization. Not only are they responsible for representing your brand, but they determine if customers will be loyal to your business or patronize your competitors. Likewise, they help you handle tasks with a top-notch skill set and contribute to your business’s overall success.
A Business Wire studY revealed that American businesses now prioritize employee well-being. Despite these, many entrepreneurs still struggle to keep their employees happy. Research indicates that 52% of employees plan to secure new jobs, while 33% are content with their current jobs. That said, what are the reasons for high employee turnover rates? Here are some you should consider.
1. Your employees are overworked
Understandably, you want your workers to put up their best performance. However, overworking them can be more harmful than beneficial. A Forbes survey revealed that 33% of employee burnout cases are caused by unreasonable workload. Likewise, 32% stated that they are given too much overtime.
Indeed, work overload can affect your business’s overall productivity, as your team can’t get much done. Moreover, their work quality suffers, leading to unsatisfied clients and low customer retention. What’s worse, they can lose their passion for working for you, leading them to quit. This, in turn, can affect your reputation and cause fewer customers to patronize your goods or services.
Therefore, it’s important to pay attention to signs that indicate that your employees are overworked. For instance, they may be stressed if they fail to meet deadlines or are frequently absent. Also, note when they make statements like, “I could use a break” or “I basically live here.” furthermore, anger outbursts and poor customer feedback are signs that your workers are overworked.
That said, you can fix this by taking a proactive approach. Organizing anonymous surveys can help you determine if you’re overworking your staff. You can also promote a healthy work-life balance by setting flexible working hours and encouraging day-offs.
2. There is discrimination at your workplace
Workplace discrimination happens when a group of employees is treated unequally due to age, gender identity, race, etc. A 2021 Ten Spot survey indicated that 70% of workers had experienced abusive behavior and discrimination. Likewise, 83% of Gen-Z workers experience the same discrimination. Workplace discrimination can be devastating to your staff and your business.
For starters, your employee morale can drop drastically, and ultimately they would leave your organization. Moreover, you risk facing legal repercussions that can be costly to handle. Your brand reputation also suffers, leading to low customer retention, failure to hire top talents, and business collapse. Therefore, avoiding workplace discrimination is the best thing to do.
The first step is to be accustomed to your state’s anti-discrimination laws, offering greater protection against discrimination. You also want to introduce anti-discrimination policies to your staff. As a tip, ensure that you leverage a concise language that your staff would understand.
You also want to address complaints of discrimination or harassment promptly and administer the necessary sanctions as a deterrence to other workers. It’s prudent to educate your staff about discrimination and create an anti-retaliation program to avoid unpleasant legal actions. Also, promoting team-building activities is an effective way to avoid discrimination, so keep this in mind.
3. Lack of learning and development opportunities
A Lorman survey revealed that 61% of American workers would consider career development opportunities before accepting job opportunities. In comparison, 76% stated that a company would be more attractive for offering additional training opportunities. Indeed, employees seek to grow on the job, and failure to offer this might cause them to leave your organization for better opportunities.
Moreover, employees who remain at your establishment may not offer their best performance, decreasing productivity. You also risk reducing employee engagement and lack of employee satisfaction. In the long run, you’d be doing your business more harm by failing to invest in development opportunities for your staff.
Therefore, it becomes expedient to invest in various training programs. For instance, implementing a skills development program is excellent for enabling your workers to become more proficient at their jobs. Likewise, you can create a regular training schedule for the best results.
For instance, you can schedule weekly training on particular weekdays and focus on different areas of career development. You can take it further by offering personal development classes to boost your employees’ confidence levels. That said, feel free to register here to get started.
4. Your company culture is toxic
Your company culture is a significant part of your organization, as it reflects your values. Moreover, it contributes to your brand identity while attracting and keeping top talents. However, a toxic culture can give the opposite results. Statistics reveal that 38% of employees would quit a job due to a toxic work environment, while 58% would move to the competitors if they offer better company culture.
It’s important to look for signs that depict a toxic work environment. For example, if you find your workers constantly fighting, gossiping, and engaging in other vices that affect productivity, you’re likely dealing with the toxic work culture. Also, over-working, micromanaging, and lack of communication can depict a faulty culture.
It can lead to decreased motivation, lack of motivation, high-stress levels, and a high turnover rate. You can correct a toxic company culture by addressing your employees’ concerns and prioritizing open communication. Implementing policies that prevent harmful behavior will prove helpful. Introduce flexible work options to reduce your workers’ stress levels.
5. Employees are not appreciated
A BLS survey indicated that workers leave their jobs because they aren’t appreciated. In comparison, 69% stated that they would work harder if their efforts were recognized. These statistics reveal the importance of employee appreciation. You risk losing your staff if you fail to recognize and applaud their efforts to push your business forward.
As a tip, immediately acknowledge their contributions, and thank them whenever they complete a task. Instead of embarrassing them for minor mistakes, learn to correct them respectfully. Likewise, offer incentives and create a rewards system for the best results.