Talent drain is one of the biggest problems in today's organisations. The employee turnover rate is higher than desirable and requires a great deal of effort to curb it.
Losing a valuable employee has a high cost for the company and it is also a headache to select a person to replace him or her.
It is estimated that the cost of losing a professional is equivalent to the value of their annual salary. If, for example, 20 employees with annual salaries of 50,000 euros leave, the cost will be one million dollars.
This is in addition to the information published in an survey published in the Harvard Business Review which says that one third of workers do not feel comfortable in their company and are looking for a new job.
With all this in mind, we look at some of the reasons why employees decide to leave an organisation on their own accord.
Each day, new employees join companies full of hopes and expectations. However, often these are not met, leading to great dissatisfaction in the individual.
Professional development is one of the most valued incentives by workers. Furthermore, the most talented employees have a need to progress and evolve.
A large percentage of employees believe that their full capabilities are not being exploited and that they could contribute much more in other areas. Ultimately, they end up demotivated and lose interest in their tasks.
On occasion, an employee may not share the company's founding values. This can create a significant rift in the employer-employee relationship.
One of the aspects that most influences a worker is the work environment. An unpleasant, toxic working environment is closely linked to low performance, a lack of involvement, and high staff turnover.
Everyone needs to feel important and sometimes employees feel a lack of appreciation from their superiors. This is especially negative when they feel they deserve recognition they have not received.
Due to overload of work, overtime, disorganisation, inflexible hours… the causes can be multiple, but work-related stress is a blight on our society. The situation can become unsustainable and force the employee's departure.
What can we do to prevent talent turnover? Increasing employee motivation is fundamental to ensuring they want to stay with you for a long time.
Recognising achievements and rewarding them will generate a positive chain reaction within the company.
Creating training and growth plans is one of the keys to retaining talent in your company.
One of the most valued employee incentives is having restaurant vouchers. But there are many others such as childcare vouchers, petrol vouchers, etc.
Communication channels must be open and fluid, so that all employees have a clear understanding of the company's objectives and values.
Be thorough in your selection processes when hiring employees who have an affinity with your company.
If you've identified that there's high employee turnover in your company, analyse the causes and provide a solution to the problem by motivating your team.
