Reasons Why Employees Quit & How To Retain Them

Quitting-Your-Job

Latest research reveals the biggest reasons of employees leaving their current employer, along with the successful ways to retain them.
 
According to a survey by SurveyMonkey, It has been figured out that the most popular cause for employees leaving a company is dormant in case of a job which is too long. Employees are likely to quit their employers rather than move on with a new role if offered.
 
Reasons Employees Stay:
 

  • Employee Satisfaction
  • Job advancement opportunities
  • Positive workplace culture
  • Employer values
  • Regular salary reviews

 
At an average, the cost of employee turnover is 21% of an employee’s annual salary. It seems like it’s cheaper to retain the existing talent instead of bringing in the new talent.
 
Employee turnover is costly for employers. Although you can’t control everything when it comes to turnover stated Dr. Andrew Chamberlain, Chief Economist of Glassdoor confirming different ways to control the employee Stay/Go. Employers with an objective of Industrial growth offer competitive base pay with regular promotions and prior employees into new job roles which in turn retains them longer.
 
Moreover, this research tells recruiters to keep focus on bringing candidates in door. For example, focusing on those candidates who have been at their roles from quite a while without tenacious company culture could help boost recruiting efforts.
 
Increment Importance
Salary continues to remain as one of the most decisive factors in employee retention. Study says that employees earn 5.2% more at an average when switching jobs and it takes around a rise of 10% to convince an employee to stay back at the company.
 

Staff Management through Self-Service
As small business commonly won’t have the adequate resources to sustain recruiting of new talent, so staff turnover is crucial. As we know the importance of record maintenance, we could get it improved via software capable of maintaining records, empowering the reports which give you clear insights of your business?  There is – IRIS HR.
 
IRIS HR is user-friendly self-service human resource software to help you manage employee turnover aspects like salary modelling, employee benefits, training and much more. You can further use these insights to help your employees feel more content and confident in their current roles.
 
Call us today and learn the newest ways to change your documentation, reporting and most importantly, your staff management criteria.