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.
For business owners, keeping your best staff on board should be a top priority.
High employee turnover can bring a business to its knees, costing a huge amount both financially and in terms of lost productivity. And with the news that employees are leaving their jobs in record numbers – and two thirds of businesses are struggling to fill their vacancies – it’s definitely worth thinking about what exactly you can do to improve retention.
Staff generally have frustrations with a business that motivate them to leave; however, this doesn’t mean that you are powerless to stop it. In fact, it’s been estimated that a huge 77% of staff turnover is preventable, as many employees leave due to reasons such as lack of personal development opportunities or poor management – all of which can be rectified with the right business decisions.
It’s vital that HR and business leaders really take on board what’s said in exit interviews and take steps to improve upon the issues that employees repeatedly bring up.
To help you out, our friends at Maximillion have put together the following infographic which looks at the most common reasons that staff choose to move on to pastures new. These include issues like poor work life balance, wellbeing, and inadequate compensation and benefits. They’ve also included some helpful tips on steps businesses can take to improve on each of these problems, and make sure their most valued staff members stick around for years to come.
Take a look at the infographic below.