Editor’s Note: This post is by Paul Slezak, Cofounder and CEO of RecruitLoop – the World’s largest marketplace of expert Recruiters and Sourcers available on-demand.
Whether we like it or not, the reality of running any business is that somewhere along the way people in your team will choose to leave. And no matter how long someone has been with an organisation, and no matter what role he or she may play in the business, transitions in the workplace will have an impact on everyone in some way.
At some stage you’ll receive the email saying “I’d like to catch up with you quickly this afternoon if you’ve got time“. Or perhaps your team member will just walk up to your desk and say “Have you got a sec? Do you want to grab a quick coffee?”
It’s never fun being caught totally off guard. Trust me … I’ve been there before. In fact on one not-so-memorable occasion it happened three times in one day.
Talk about sleepless nights!
No manager has a crystal ball. You never know when it’s going to happen. But rather than only learning about their reasons during an exit interview, wouldn’t it be nice to know that someone might be looking to leave before you get kicked in the guts?
In a recent study, our friends at Cascade (leaders in HR and payroll software) found that the top 5 reasons employees cite as their reasons for leaving their jobs are:
- Lack of career progression;
- Below market salary;
- Putting in too much overtime;
- Limited teamwork; and
- Lack of flexibility.
Whilst there are some pretty obvious tell-tale signs that someone in your team has one foot out the door (such as taking several sick days, no longer actively participating in team meetings, or a rapid drop in work quality), other signs might be less obvious. It’s up to you to be more aware.
Cascade’s infographic below highlights the best ways for you to identify who might be about to quit along with some actionable advice about how best to address these issues. It gives an insight into the psychology, behaviour, company culture and HR practices that help to influence your team members’ decision-making processes.
By identifying these key indicators as they arise, organisations will place themselves in a better position to help prevent staff from quitting their job within the business.
After all, staff resignations can become a very costly exercise for your business … up to 3 or 4 times what you’ve actually paid your employee to be there.