Many of today's top companies face the problem of losing their best employees. This problem with attrition is not new. What is alarming is that more and more employees are willing to pack their bags and leave without any trace of hesitation and at a moment's notice.
So why do great employees quit? This article talks about some of the most common reasons why even the best people throw in the towel and shout "I Quit!".
Lots of unhappy employees cite low compensation as the top reason they leave work. While the Asian economy is slowly getting better, there are still companies out there that pay employees below the minimum wage. Most times, these companies wait until after receiving the resignation letter before offering salary adjustments. Unfortunately, this becomes a case of "too little, too late". By the time the offer is made, the employee is either fully decided on resigning or has already accepted another offer from a different company. This extends to non-monetary compensations too such as sick and vacation leaves, medical and dental coverage, bonuses, commissions etc. Once employees feel they are not getting what they deserve, expect resignation letters to fly.
Most employees don't wish to be friends with their bosses, but they would like to have a semblance of a relationship with them. Employees work with their managers or superiors day in day out and if they are unable to communicate with them, the work environment turns heavy before becoming toxic. Nobody wants to work with someone they're unable to get feedback or advice about their work performance from. Relationships are an integral part of our social needs and if people can't find it at work or from their bosses, they're most likely to look for it somewhere else.
People are always on the lookout for new challenges. This powers their drive, their confidence and their passion. If work has become repetitive and ceases to present some sort of challenge, expect even the best employee to walk to the nearest exit and leave forever. It only takes months or a year at most to master skills and nobody wants to spend five years of their lives doing the same thing over and over.
Employees want to feel that their hard work is being recognized. It is therefore not surprising to see great people leave the company simply because they feel that they are not being recognized for their achievements. We all want an occasional pat on the back for a job well done and when this does not happen, people also lose their desire to continue working hard.
Another major reason some of the best employees leave their jobs is that they are ready to take their career to the next level. This normally happens if they feel that they have learned everything there is to know about their work. This also happens when they start realizing their own worth as a professional. Most employees gain confidence from having mastered a particular skill and if they are unable to find a place to further that skill in the company, they start setting their sights elsewhere.
The problem of employee retention affects both the company and the employee resigning. When you lose people, you will have to work on getting their replacements. This means reaching deeper into the company's finances for recruitment and training. Resigning employees would also have to start looking for a new job (if they haven't found one yet) which means going back into the job search process and starting anew. If you are having the same problem in your organization you might want to assess the situation and do something about it before it gets out of hand.
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SEEK Asia is the extension of the Australian Securities Exchange listed company called SEEK. The company's purpose is to help improve people's lives through a better career. SEEK Asia's database consist of over 500,000 corporate hirers and over 24 million candidates.
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