There are a lot of things that you need to look out for to keep your organization running. One of them is ensuring your employees stay. Just focusing on revenue but not on your employees will cause you to suffer huge consequences.
The worst of all is that your organization can close down because of having low employee retention. If you know the warning signs of employees about to quit, you can prevent them from leaving.
Moreover, if you are experiencing some problems with employee turnover, you need to learn more about keeping your employees and boosting the morale of your workforce. Otherwise, your employees will be disengaged and their commitment to your organization will be low.
Everything starts with leadership. This is because leaders affect morale and commitment of the employees. According to Randstad US, one of the main reasons why employees leave their jobs is because of bad managers.
Randstad mentioned how 60% of workers leave because of leaders being terrible at leading. Knowing common reasons why employees leave their jobs is crucial if you want to know how to improve employee retention.
When employees are about to quit, there can be changes with their behaviors or actions. It’s important to pay attention to these warning signs so you can take action if the situation can be helped.
Here are 3 warning signs of employees about to quit:
One of the reasons why employees leave their job is when they are disengaged. When employees are disengaged, their performance suffers. According to Gallup and Queens School of Business, disengaged employees create 60% more errors, 49% more accidents and have 37% higher absenteeism.
Even when they are wanting to quit, disengaged employees that are in your organization is costing you. According to Harvard Business Review, disengaged employees are costing companies $450 to $550 billion a year.
If an employee was performing well before and it changed, decide to have a talk with the employee. Ask the employee if what is wrong and help them if you can. Employee satisfaction is an issue not being addressed by a lot of organizations.
According to the Conference Board’s survey, just 51% of employees feel satisfied with their jobs. This means that half of the workforce population are experiencing dissatisfaction with their work.
If employees know they can trust their employers, their satisfaction can improve. This also improves their chances of staying. One way on how you can do this right away is by recognizing their efforts or by thanking them.
According to a study conducted by Cicero Group, 50% of employees said that being thanked by their employers will improve their relationship and trust with them.
Has Conflict With Other Employees
Having a conflict with other employees can be frustrating. It takes out the joy out of working and causes one more stress. Moreover, employee conflict creates a negative company culture.
According to a study by Elizabeth Medina of Columbia University, companies with a bad company culture have a turnover rate of 48.4%. In other words, having a negative company culture increases the chance of employees leaving.
If employee conflict exists in your organization, there can be employees about to quit because of it. It is important that you address any employee conflict because whether employees leave due to the conflict or not, they are creating damage to your company.
Here are the results from a Harvard Business Review poll in relation to employee conflict:
- 48% reduced their work effort on purpose.
- 47% reduced their time spent at work on purpose.
- 38% reduced the quality of their work on purpose.
- 80% lost work time because of thinking about the conflict.
- 63% wasted work time because of avoiding the offender.
- 66% reported that their performance got worse.
- 78% reported that their commitment to the organization declined.
- 12% stated that they quit their job because of being treated in an uncivil manner.
- 25% admitted that they took their frustrations out on the clients.
Strive to resolve any employee conflict that is present in your organization. Help out employees about to quit and strive to foster teamwork mentality for your workers.
There is a Lack of Recognition
Money is not the main reason why employees stay or leave their jobs. In fact, a lot of other things are valued by employees more than money. Studies have found that employees value recognition more than salary.
According to Gallup, one of the main reasons why workers quit their jobs is because of the lack of recognition. Can you guess just how much employees are not being recognized for their efforts?
According to a poll by Gallup, 65% of workers said their efforts were not being recognized by their employers. This goes to show just how important leaders are when it comes to employee recognition which is linked to employee retention.
We’ve written an article about how empowerment of leaders shape company culture. In the article, we’ve mentioned that half of all U.S. employees are considering a new job. This was from a study conducted by Gallup.
Another shocking statistic is that a whopping 70% of employees leave their jobs because of lack of appreciation. This is according to the O.C. Tanner Learning Group. Recognition and appreciation means a lot to employees, give it to them.
It costs you nothing to give but it can cause you a lot of trouble if you don’t give them enough or if you don’t give them recognition at all. Keeping employees has become harder because of the fierce competition to both attract and keep employees.
Large companies have been offering generous employee benefits because it’s one of the most effective strategies in keeping employees. Rite Aid is one of the fortune 500 companies and is the third largest drugstore chain in the United States.
Rite Aid employee benefits include having a health plan, dental insurance, maternity support program, disability plan, leadership program, coaching and mentorship, daycare flexible spending account, tuition reimbursement and more.
Their benefits help the employees with their professional and personal growth. This helps employees remain challenged, motivated and committed to the company.
Another fortune 500 company that offers excellent employee benefits is Carmax, the largest used car retailer in the U.S. Part of Carmax employee benefits is having medical plan, dental insurance, employee assistance program, life-insurance, paid time-off, parental leave, company stock purchase, student loan refinancing, tuition assistance, adoption assistance and more.
You don’t have to offer too much employee benefits that it will hurt your organization more than it will help. However, looking at their employing benefits can help you get ideas of what benefits you can offer your workers.
This way, signs of employees about to quit will become less of a problem. Being able to read the warning signs is good. However, knowing how to better motivate, inspire and create a more engaged workforce is better.
Again, here are the 3 warning signs of employees about to quit. If you notice them, do something to help out the employees if they have problems for them to stay:
- Poor performance
- Has conflict with other employees
- There is a lack of recognition
According to Richard Branson, “a business has to be involving, it has to be fun, and it has to exercise your creative instincts.” This principle also applies with keeping your employees. If there are warning signs of employees about to quit, know what to do and take action right away.