When it comes to managing people, one of the main things business owners need to pay attention to is the turnover rate. Employees choose to quit their jobs for a variety of reasons. Some are unavoidable, such as a spouse or partner supporting a military service member when it’s time to relocate. Others, on the other hand, choose to leave because of the business.
Every entrepreneur can get things wrong or misjudge how their choices and strategies affect the team. When your turnover rate shows unhealthy or alarming trends, it’s a sign that your employees aren’t happy. More often than not, however, business owners and employees can look at things and see them differently. For instance, you may fail to understand why your employees quit when you’ve made a point of creating a fair wage system, flat hierarchy, just work schedule, and developing leadership skills. But here is what your employees may perceive:
Your employees don’t feel rewarded.
Fair wages are an essential part of every job. However, paying someone to do their work does not mean their performance is recognized. Your employees expect recognition for their hard work. When the business sets goals for employees, there should also be a system that can deliver a reward when they achieve the goals. An employee incentive program, such as MTI Events, can give your team the recognition and rewards they desire. Your incentive program can come in many forms, from planning a day trip to selecting performance-based gifts.
Your employees can’t grow.
Maintaining an open-door policy between managers and team members is an excellent policy to have. However, most employees want to progress through the business. Someone who joins a company sees themselves acquiring additional responsibilities in a few years. As a result, your team expects you to invest in their professional career. Creating training programs for your organization is a sure way of showing you care and can help them grow. If you ask employees to train on their own time, you ultimately admit the business has no interest in their professional progression.
Your employees feel overworked
It might sound surprising, but even if you focus your efforts on developing a 9 to 5 work culture, you may still make your employees feel overworked. How does it happen? As a rule of thumb, people need to take frequent breaks from the screen and the desk throughout the day. However, if your office doesn’t have a break room, most employees feel they can’t take any breaks. Even if you are working in a virtual space, you can come up with fun, creative ways for your team to take breaks.
Stress and mental fatigue accumulate throughout the day, which can lead to a loss of morale and job satisfaction. The pressure can accumulate over time and lead to problems such as a high loss in productivity, faulty products, not to mention mental and physical health issues—definitely reasons for someone to want to quit leading to a higher turnover rate.
Your employees’ motivation is drained.
What is the difference between a confident leader and an arrogant one? A confident leader motivates the team. Their passion is contagious. On the other hand, arrogance creeps up when your self-confidence loses touch with reality. You start believing your position makes you better than the team. As such, you have unrealistic expectations on them and are not ready to support them. Arrogance drains motivation and productivity.
Simple and little mistakes you may overlook can transform your positive efforts into negative factors that drive your employees to quit. It’s essential to recognize performance, professional aspirations, break needs, and motivational passion. Always question how your choices affect your employees and what it says about your business. When you do, your turnover rate will decrease, and employees will become loyal to the company and your brand reputation. Here’s to YOUR success!
Carolyn R. Owens has over 25 years of proven experience and serves as a Career Strategist, Executive, and Leadership Coach. She is the President of Infinity Coaching, Inc., where she can help you up-level your skills so that you can up-level your income, career, business, or life. Infinity Coaching, Inc. provides organizational training and one-on-one and group coaching. She is also the host of “Let’s Coach with Carolyn.” You can listen to the show on Spotify, Apple Podcasts, Stitcher, or wherever you enjoy listening to podcasts.
