If high attrition rate was the highlight of last quarter’s challenge for your business, there is something wrong with your business’ work environment, and the employees clearly don’t seem pleased about it. As a business owner, it pays to know the reasons for poor employee satisfaction and work on rectifications to retain the talent. And while doing an RCA (Root Cause Analysis) may seem overwhelming, the five reasons listed below and tips on what to do will help you get a start.
Timing and Scheduling Issues with Payroll
If payroll is consistently delayed or employees are not accurately paid for the number of hours they’ve worked, it will create a feeling of mistrust and frustration. This can be easily fixed by working with a payroll service company that has a good reputation and is known for its timely service.
You can also take these corrective in-house steps to ensure the employees are properly compensated:
- Conduct an audit of the payroll system to check for errors and inefficiencies.
- Streamline the payroll process by automating as much as possible.
- Train payroll staff on proper payroll procedures.
- Improve communication between payroll and other departments.
- Look for the best payroll service for small businesses and hire a suitable agency.
Do you have a team of excellent performers quitting one after the other? It could be because they’re being micromanaged. When employees feel like they’re constantly being watched and their every move is monitored, it kills their motivation to do their best. If you’ve been told that you’re a micromanager, work on delegating more and trusting your team to get the job done.
Here are a few tips on how to stop micromanaging:
- Build trust with your team by delegating tasks and giving them the freedom to complete them independently.
- Communicate clear expectations but don’t hover around while they work.
- Avoid asking for unnecessary updates and checking in too often.
- Focus on results rather than process.
Lack of Growth Opportunities
If workers in your organization start feeling cramped for opportunities, they will start looking for greener pastures. To retain such employees, you need to provide them with a clear career path and help them develop the skills they need to progress in their roles.
Here’s what you can do:
- Encourage employees to take on new challenges and responsibilities.
- Invest in employee training and development programs.
- Create mentorship programs pairing experienced employees with those new to the company.
- Offer promotions and salary increases based on performance.
Poor Work-Life Balance
With the advent of technology, employees are now expected to be available 24/7. This has led to a deterioration in work-life balance, causing immense stress and leading to burnout. To prevent your employees from quitting due to this reason, it’s important to promote a healthy work-life balance in your workplace.
Here are some tips:
- Encourage employees to take their allotted vacation days.
- Discourage working long hours by instituting a flexible work schedule.
- Allow employees to work from home when possible.
- Provide opportunities for professional development.
Lack of Recognition and Appreciation
Employees need to feel like their hard work is being noticed and appreciated. If they don’t feel valued, they will start to look for a company where their efforts will be appreciated.
Make sure you’re regularly acknowledging your employees for a job well done. You can do this by:
- Giving verbal praise and compliments.
- Writing thank-you notes or sending emails expressing your appreciation.
- Giving public recognition at team meetings or company-wide events.
- Giving employee awards and bonuses.
Talented employees won’t think much about leaving a company where they aren’t valued or compensated properly. As part of the RCA, keep the above reasons in mind and focus on creating an employee-centred working environment for boosted employee productivity and satisfaction.