Top talent are the employees that go above and beyond to exceed their goals, they make a positive impact, and they have an ambitious attitude. Talent like this can be difficult to come by, so it is important for your company to know how to retain them.
If your company is starting to lose some of its top talent, it may be time to really dive into what is causing them to leave. It is important to know why top talent leaves a company, so that you can find out what changes may need to be made to help retain future talent.
50% of employees have quit their jobs because of a poor manager and 82% are considering quitting. Managers have a greater influence on employees’ mental health than doctors, so when employees have a bad manager, it can greatly impact their well-being.
To help avoid having bad managers, take your time deciding who is the right fit for a management position. Interview the person being considered for the role, get to know them, and ask them a series of questions about how they plan to manage the team. Then, watch their interactions with employees and see if they truly have necessary leadership skills.
It is important to also have someone in HR frequently talk to employees about their managers. Sometimes employees can feel stuck and not know who to talk to about poor management, but if you prioritize asking your employees about the quality of management, it can help them really open up.
63% of respondents to a survey said they left their job due to low pay. In order for your company to stay competitive, you have to offer competitive compensation.
It is important for employers to do some research and look into what competitors are paying their employees. If your company can stay competitive with pay and benefits, it can help you retain top talent. Clients of Helpside can request salary surveys to see how their compensation stacks up against the competition. Reach out to us at email@example.com to learn more about salary surveys.
Since most workers spend at least 40 hours a week in the office, it is important to make sure they are in a healthy work environment.
The best way to know if employees are struggling with the work culture is to simply ask them. Set aside time to frequently talk to your employees about the work culture. Ask them if there is any drama, harassment, or discrimination. If the employee says that these things happen in the office, then a leader must handle the situation as soon as possible. Leaders that dismiss their employees and do not take care of situations can end up losing top talent.
Lack of career advancement
63% of employees have quit their jobs due to lack of advancement. Employees do not want to feel stuck in an entry level position for the rest of their work life. Employees want to advance in their career. Making advancement possible will help you retain top talent.
During onboarding, discuss with your new hires about your company’s career growth plan so they can know from the start what they need to do to advance. It is important to have a growth plan for your employees and to always let them know if there are any changes that have been made to it.
If your company offers advancement and new opportunities for your employees, it will help retain top talent.
It is important for leaders to know what is causing companies to lose top talent, that way they can try to avoid it in their own business. Poor management, poor compensation, poor culture, and lack of advancement are the main reasons why top talent quits their jobs.