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.
Today’s job market is favorable for job seekers or employees, as they have a wide platter to choose from. In the meantime, employers are struggling to retain employees, but when the market is leaning on the job seekers side, there is a lot more employers need to do if they want to retain their staff.
While attracting new talent is beneficial, it should not be at the cost of losing out on your already talented staff. When you gain a new employee as a replacement for someone who has left (or will be leaving), it means you will be spending money, precious time, and energy into training the new employee and it could take up to two years for the new employee to get fully up to speed in the new job.
However, there are many who quit a job within a year of joining it, therefore it’s once again a loss to the company.
So what are the reasons that are causing employee turnover at such alarming rates in today’s world?
The reason could be simple or complicated. Simple as in “the commute”; to more complicated reasons such as an incompetent manager, problematic co-workers, hostile environment etc.
Often employee turnover happens when the management fails to identify the issue in its early stages or take it for granted, thereby ending up losing efficient and talented employees.
Learn more about the reasons for employee turnover in this detailed infographic created by our friends at Maximillion Event Creators.
The infographic not only talks about some of the major reasons for employees quitting their jobs, but it also provides solutions for each of the issues covered. This is especially useful if you are an employer or a business owner as it will guide you on how to retain your employees. The easy to read and understand format will come in handy for you whenever you need it.