Well, there are many reasons why people leave their existing jobs - One category of reasons are beyond the scope of the employer to address, like employee moving a city because the spouse had to move, take care of children or parents, or go back to college for higher education.
The other category, the ones that are more likely to cause an employee to leave an organization and can actually be addressed by Employer are the ones I would like to talk about.
IT Begins with Hiring Right not the Best
A decade back the HR systems were not so robust and dynamic to address the challenges the organizations had with respect to employee engagement. In today’s day and age, the employee engagement starts from the point someone is applying for a vacancy on a company job board or when an organization is hiring for its employees till the time employee exits the organization.
Organizations need to use tools and means that use psychometric analysis, Natural language processing, and Artificial Intelligence to determine the right fit for a job role. Platforms like CVViZ, Ideal, entelo help companies achieve these. Many times, the RIGHT CANDIDATE for a job is probably already working in your organization in another role and not really happy and your current systems just don't give you those insights.
No clarity on Growth/Meaningfulness of the Employee's Job/Opportunities to Use Their Skills and Abilities/Bored and Unchallenged by the Work Itself/Independence or Autonomy in Job Role.
Well, we all spend the most active part of our day at our workplace and if that time spent leads to one feeling bored, unchallenged and monotonous then employees tend to start looking at opportunities that challenge them, enhance their skills and abilities, that give them a purpose.
With organizations becoming huge and more bureaucratic, employees tend to get lost in trying to gain clarity as there are no platforms within the organizations that showcase to them that next opportunity. Employers can address these by engaging employees by opening up the opportunities to existing employees using platforms for Internal job positions, where these opportunities are taken to the employee using HRtech solutions, rather than waiting for the employee to scout for them. An existing employee is many a times better fit than external hire, an existing employee already know the work culture, Understands the systems and hierarchy.
People do best when we let them follow their passion and get to use their skills and abilities. Companies need to provide that platform for the employees to perform which is true for a startup or a Trillion dollar Enterprise.
Low Salary/Overworked/Work-Life Balance
Paychex survey conducted in August 2016, 69.44% of those interviewed attributed low salary for the job switch. Another 63.12% expressed that they were being overworked for the salaries being paid. Well, the companies need to be at par with market remunerations and Compensation benchmarking for various skills needs to be done regularly to stay in the hunt for the Right Talent. Companies and employees alike need to understand the market is demand and supply driven and both need to on top of the game to stay relevant. Employees need to know the right price for their skills and also need to upskill to keep themselves relevant to the needs of the market.
Culture Fit/Work Culture
Is your work environment for people conducive to employee satisfaction and engagement? Employees appreciate a workplace in which communication is transparent, management is accessible, executives are approachable and respected, and direction is clear and understood.
Well, Companies can actually hire employees that fit their work culture. Companies can use tools that enable to determine the fit of the employee.
Recognition/Employers didn't care about employees.
I believe recognition is an important factor but it is not the chief concern. It is like an icing on the cake layered on top of other factors. Lack of recognition can affect a lot of factors but it is not a deciding factor in why employee's leave.
We at CVViZ focused on AI enabled screening. It helps you in identifying RIGHT candidates much faster. When we say RIGHT - it means the kind of candidates your organization engages. We help Organization engage their existing employees for internal Job openings to retain talent.