Employee attrition is one of the biggest concerns for every workplace and organization. While employee attrition is not inevitable, it is definitely preventable with the right strategic steps. The company might not be able to deal with attrition when it is already facing retention challenges, and that is why proactive measures should be taken to help the business run seamlessly without losing valuable employees. Let’s address the core reasons to handle the situation.
Top Reasons for Employee Attrition
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Lack of Career Growth
According to research, 70% of working employees are more likely to leave their workplaces when they do not provide any career growth opportunities. Therefore, the companies that do not invest in employee development and learning are more likely to lose their workforce. An employee does not always seek promotion every year, but definitely wants to see a bright future in the company they are serving.
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Inadequate Rewards and Recognition
Recognition is more like a psychological reward that gives a sense of fairness, and when employees are recognized for their exceptional performances, they feel validated, noticed, and appreciated for their contributions. A recent study says that 66% of employees are willing to quit their jobs when they do not feel appreciated.
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Benefits and Compensation
It goes without saying that a job becomes more valuable for the employees when it comes with a handful of benefits and compensation. But if you are not paying them enough, you might lose your workforce to your competitors who are offering 20%-30% more salary. A good workplace culture and adequate salary can retain more employees than you can imagine.
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Toxic Environment at Workplace
Toxic environments are not always visible to the naked eye; however, they can take place in particular departments or specific teams where bad behaviors often go unchecked. Some of the common patterns of toxicity that can be found in workplaces include aggressive behavior and public criticism. Sometimes, the toxic behavior of high performers and managers gets excused. Toxic culture does not surface through surveys, but it still remains in most workplaces.
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Work-life Balance and Burnout
Burnout is a highly critical issue that can shift from an individual employee to an organizational problem. The immense work pressure and disappearing boundaries without any additional resources could be quite problematic for the employees, as it has turned into an unsustainable system. Remember the fact that burnout can target the highest performers from your workforce who are the most important for your business process and productivity.
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Engagement, Purpose, and Role Expectations
Mismatch in role expectations is a problem of "bait and switch," which is perhaps not intentional but can still cause damage. Employees accept a job based on expectations in different aspects, and an employee can feel dissatisfied if the job role does not match expectations. A company should also engage its employees with a clear mission, and goals can help to reduce the employee attrition rate by up to 49%. It is a human tendency to seek purpose in life, and that goes for jobs as well.
How to Deal with Attrition?
It is the duty of the management and HR roles to take proactive measures to reduce attrition carefully. In order to prevent the attrition triggers, HR Processes should include empathy, which helps to make a strategic approach. Focus on employee experience and try to view your company from their perspective to find the loopholes. Empathy does not mean being soft or abandoning standards, but it is more like building a process that instills flexibility into systems for every employee, catering to their unique needs.
The key lies in taking action before the crack develops in the workforce.
