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If employee retention is a focus area for your organisation, you may want to consider asking this question during the discussion phase when giving your next employee performance review:
“What would it take for you to leave?”
Why wait until an exit interview to determine why an employee decided to leave? Engage your good performers when the opportunity presents itself and find out what might cause them to leave before they really do leave.
In fact, you may want to do it sooner. You might be very surprised at the responses you hear. Many of your employees will not be able to think of a reason they would leave, which says a lot about your organisation. And those that do respond with reasons they would consider leaving your company provide valuable insight into how you can make improvements to retain your most valued employees.
Over 17,000 employees from a range of organisations were asked why they stayed in their jobs.*
Conversely, a study** of nearly 20,000 job leavers revealed some rather intriguing facts:
Here are the top 10 reasons employees quit:
• Limited career opportunities
• Lack of respect/support from supervisor
• Money
• Lack of interesting/challenging job duties
• Lack of leadership from supervisor
• Bad work hours
• Unavoidable reasons
• Bad employee relations by supervisor
• Favouritism by supervisor
• Lack of recognition for contributions
It’s often assumed that pay is the chief lure for an employee to jump ship. However, that is clearly not the case. Even if you’ve had to freeze salaries over the past couple of years, if you can provide your employees with challenging work, give them the opportunity to learn and grow, and have created a work environment of support and camaraderie, you have a very good chance of being able to retain your top performers.
