In this tight labor market, it is very important for employers to know how to retain its top talents and how to make them want to stay!In the study conducted by West Monroe Partners (2018), a multinational management and technology consulting firm in the US, with 2,000 full-time employees as respondents, eighty-two (82) percent have a high sense of loyalty to the organization.However, the study also showed that:
This is a bad news for employers!
This is a big drain for the company as they have already spent its resources and time training its employees only to have them leave after.The study further showed that:
Why is this so?
One of the top reasons is the LACK OF PROFESSIONAL GROWTH.
Large companies, compared to smaller ones, have already established its wide array of career paths, thus, allowing them to provide the kind of professional growth their employees would want.Smaller companies, on the other hand, are still developing and have less clear career-paths for their employees.
What to do then?
1. Employers can start by asking the employees if they can see themselves grow professionally and personally in the organization. Ask if they can also see themselves staying in the company for more than five (5) years.If majority answers no, encourage them to explore other opportunities and interests within the organization.According to the study, seventy (70) percent of the respondents have had some level of comfort with switching to a new role or department within their current company.2. Provide employees with the right technology to free up their time for more meaningful and engaging work projects. However, it is also important to ensure that they receive the necessary training to use these tools.
3. Look back and create innovative programs that will encourage your employees to stay. Employees need to feel supported in other areas of their lives to make them feel motivated and grow. TOP REASONS FOR STAYING IN A COMPANY
Every organization needs to know its employees in order to know the reasons why they leave and stay. This is so you can effectively implement measures that will motivate them to stay in the long run.