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April 2018

The Top 3 Reasons Talented Employees Quit

The Top 3 Reasons Talented Employees Quit

As a business owner, CEO, or HR executive, you deal with employees on a daily basis. When a star employee asks to speak with you privately, alone, you may be terrified that they are going to put in their two-weeks notice.

Unfortunately, employee turnover is actually pretty common. In fact, 2.7 million workers voluntarily left their jobs at the end of June 2015, which was a 25% increase compared to 2013. It's too early to know what turnover rates looked like in 2017, but with a growing economy, it's likely these numbers jumped again. And as Fortune reports, "87% of employers said that improving retention is a critical priority for their organization."

So how do you stop your most talented workers from looking elsewhere in 2018? Let's take a look at a few of the reasons employees look for new jobs in the first place.

They're Looking for More Pay

One of the most common reasons to leave a company is also fairly straightforward: money. No matter how much someone loves working for the company, if they can be paid more somewhere else, there's a high chance they're going to take that opportunity. As a CEO or business owner, it's essential to stay competitive with the competition's rates. If you don't, your workers will be extremely vulnerable to third-party recruiters and head hunters.

They're Bored

A bored employee often turns into a former employee. When your company can't provide meaning or fulfillment to workers, or at least a thriving company culture, there's a strong chance that they're going to look for a workplace that's more exciting. While mediocre employees may stay in a boring job for life, top employees need to feel challenged at work. Growth and development are very important for your most talented employees, so if they don't see any potential for personal and professional growth, they're not going to stick around.

Management Makes Their Life Miserable

Unfortunately, too many business owners and CEOs turn a blind eye to incompetent or irresponsible managers. Even well paid employees who are extremely passionate about their job have been known to quit over problems with a direct manager. When a manager or supervisor makes your workday miserable on a daily basis, it's only a matter of time until they quit.

How can you ensure you're hiring the right management team in the first place? HR executive search firms can help you find talented HR workers to manager your company's human resources division. While there are many HR recruiters, only a handful of firms specialize in finding in-demand HR executives to fill top positions. If you want to ensure your most talented employees stay for a long time to come, then HR executive search firms can help you get the right managers on the bus, so to speak.

Employee retention is key as the economy improves and turnover rises. To keep your employees on board, use the tips listed above.

Looking for elite HR executive search firms? Contact Frederickson Partners today.