A Human Resources team invests both time and money in the organisation’s workforce. Retention is therefore important, especially as talent is increasingly mobile. Understanding why people leave their jobs is vital if staff turnover is to be managed.
Several surveys have been conducted to investigate why people leave their jobs – and what can be done about it.
The bad news is that poor people management is expensive. In the UK alone, it costs £84 billion, (Investors in People and TBR research).
The good news is that Human Resources teams have the ability and influence to improve employees’ daily work experience – and staff retention.
1. Relationships With Colleagues – Including The Boss!
We spend a large proportion of our time working. You don’t need to be friends with everyone at work. However an uncomfortable relationship with co-workers and/or your manager could adversely affect your self-belief, engagement and commitment. Research shows that employees also need to feel confident in their senior leaders.
It’s true that money isn’t everything. But – research shows that once a compensation package falls beneath the market average, employees start to look for alternative opportunities. This isn’t just about salary. As employment opportunities become increasingly global and mobile, relocation policies need to reflect the travelling, lifestyle and other people involved. Supporting families and partnersis just as important as helping the assignees.
This relates to promotion but also the chance to grow and develop skills. Global talent mobility offers unique opportunities. A good relocation policy will ensure the employees settle into new roles and become productive quickly.4. Time to celebrate!
Employees like to feel their individual and team achievements are recognised. Many people look for alternative opportunities when they don’t feel recognised – or when their hard work always seems to be rewarded with… extra work.
Having invested in recruitment and induction costs, organisations should aim to reposition rather lose employees who simply ‘don’t work out’ in their new role. If this is a common reason for poor retention within any organisation, it suggests that recruitment policies should be reviewed.“Global opportunities are exciting for many employees and offer an extra dimension to compensation packages,” says Kevin Wieczorek, Sales & Marketing Director of BTR International. “Support is needed for the employees and their families – plus the HR teams involved.”