Minimize Employee Turnover and Strengthen Your Business
Dale Carnegie, businessman and writer, made an eye-opening, and very accurate, observation when he said that employees don’t resign from their jobs, but they resign from those people they no longer want to work with. When one of your employees hands in their two-week notice to quit, everyone loses; however, your company suffers the most.
Minimizing employee turnover is key to strengthening your business. Consider this – it takes time and resources to find, hire, and train new employees. It may take many months for an average employee to become efficient enough to become profitable for the company. If a worker decides to leave after only a few months, it can cost the company additional resources to hire new people to retrain. Think of it this way, when you have dissatisfied workers, the overall productivity of the company suffers.
How Can You Motivate Your Staff? The Challenge Begins
One way to save your company time and money is by retaining the loyalty of your workers. You need to create a great working environment to achieve employee loyalty and increase productivity.
It’s common for employees to switch to companies that provide better wages and incentives. Yet, it isn’t all about money, in spite of widespread belief.
So What Are the Real Reasons for Employee Dissatisfaction?
Here are a few reasons why many employees feel unmotivated and dissatisfied:
- Feelings of being ignored, especially for a promotion.
- Learning they earn less than others. This applies specifically when co-workers are performing similar types of work.
- Receiving a low salary increase…or worse…none at all.
- Lack of clear direction regarding work performance.
- Lack of good internal communication within the department or company.
- Loss of confidence in those in charge.
- Lack of opportunities for promotion and advancement.
- Feelings of being undervalued by management.
- Work requirements include a lot of effort, stress, anxiety, or fatigue that also affects an employee’s personal and family life.
According to Forbes magazine survey, employee dissatisfaction includes:
- Over a third of employees see themselves moving onto a different company within the next 12 months.
- About 50% were unable to identify with their bosses.
- More than 60% of workers disagree with their boss’s career plans for them.
- Only 25% think their work is recognized by their company.
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