Today's post comes to us from Workforce Institute board member Chris Mullen. Here he reviews the questions to ask to determine why your employees are leaving.
In today's booming labor market, organizations cannot afford to lose one of their most important assets: their employees. This is the first time in decades that there are more jobs than there are employees to fill those jobs.
There are all kinds of theories and bodies of research out there about why employees leave their jobs from being underappreciated, to not being compensated competitively, to bad managers.
But the only question that really matters is: Do you know why YOUR employees are leaving YOUR organization?
We all have beliefs about why employees leave, and some of them might even be true. But unless you are systematically tracking why your employees are leaving, the real reasons might surprise you.
Here are some steps to take to make sure you have a good understanding of why your employees are leaving so that you can do something about it.
This type of data can create insight into why employees are leaving your organization for HR and executive leadership. It can also help inform and create strategy to lower your turnover and improve employee retention.
The labor market these days is just too tight to lose good employees for reasons you don't fully understand. Take the time to better understand turnover and you'll find you can probably do something about it and better position your organization for long-term success.
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