Your business wouldn’t exist without your best employees. Unfortunately, many employers feel blindsided when they get a two-week notice from a top employee. They shouldn’t. There are plenty of red flags, and nurturing employee loyalty is something that takes constant effort.
There are countless reasons why employees quit, and not all of them can be addressed. However, the five major reasons employees quit can be wholly preventable if the employer takes notice–and action.
A subpar reward system is the number one reason employees quit.
If you reward your employees, it instills loyalty.
It doesn’t have to be financial, although that’s a great incentive. Corporate recognition on all levels can do a tremendous lot, and be sure to focus on both internal and external recognition. Employer paid mini vacations, taking over a project, promotions, and donating to charities in their honor are also great incentives.
However, bear in mind that rewards are useless without communication. Find out what your employees really want and prioritize those rewards.
The second most common reason people quit? Their managers.
Many times, an employee is generally happy with the company, but maybe not a particular manager.
There can be natural tension between managers and their employees, but sometimes it’s just not a good match. Something as simple as changing managers or teaching your managers how to communicate better can keep great employees on board. Management isn’t for everyone–in fact it’s a very tough job. Are you sure your managers are management material or would they thrive better elsewhere?