As a professional, seeing employees come and go has always been part of the working experience. It’s tough to consider this as a good thing regardless of the circumstances since parting ways with a staff member can be quite distressing at some level. While this move can be beneficial for an employee who’s trying to realise his or her potential, in some cases, they are convinced to leave due to unfavourable circumstances. If you lose a good employee, you can’t help but reassess your company’s way of doing things. This can deal a huge blow to your business operations since you will have to go through the motions of finding a suitable replacement. As head of HR or a recruitment agency, it’s your job to find out why they leave, most especially if you have a high turnover rate. Hiring new people is costly and the amount of time spent on training can cause the whole operations to slow down and be rendered ineffective. The best way to address a high turnover situation in your company is to identify what makes employees leave and figure out a way to make them stay. Equally important as providing outplacement services, this also gives you a better reputation as a brand and helps improve you.
More often than not, employees are pushed to leave and look for a better company when they feel they aren’t happy in their current working situation. Unhappy employees tend to underperform for reasons that make them feel they’re just dragging themselves to work. There are many factors involved in making them feel this way, and it’s high time you know the reasons why. Exit interviews are always a good way of determining what makes your employees leave. You should make sure that you take heed of the reasons they give you for leaving. This is one of the most straightforward methods you can utilise, which would benefit your company and the succeeding employees you’ll hire.
Ultimately, making people stay to work for your company for many years will all boil down to your recruitment effort and how you handle your employees right. But first, you have to look at the data. This will help you make the necessary adjustments to keep them working for you and steer your company in the right direction. To keep you up to speed to the current turnover situation, here are the ten statistics you need to know.