Finding a great resource is a task, a mammoth task. The recruiters analyse various candidates, select a few, check their budget and hire the one that matches all the requirements properly. It all doesn’t end here, there is a certain amount of time and money that further goes in training, polishing and making the candidate well aware of the company product or service.
If we believe the data available online, 19% is the average attrition rate and in some cases finding a replacement can cost 40% of the employee’s salary.
Which company would like to put all that money, time and energy into training a resource, who would be resigning from the job position within a matter of months or even a year?
When such situations happen, the company lose money in 3 ways. It loses the money invested in training, it loses the money spend at the time of hiring and it loses the money it invests in finding the replacement of the employee who has resigned.
Now as an employer or HR, I believe you are already quite aware of the attrition rate of your company. If it is anything more than 10%, you should worry. Infact, if this 10% includes the high performing employees, you should worry more!
Knowing what’s going wrong and still not doing anything about it can have major repercussions on your business. Now let’s talk about the elephant in the room, these employees are clearly not happy with your company. Isn’t it?
Keep reading to know what is affecting their happiness and satisfaction and how you can improve the same.
- No recognition is gross-
Employees don’t really work for their CEOs business to grow, they work for their own growth. For employees, growth is equivalent to more money, power and appreciation. Now, we know you cannot promote or increase the salary of every team member altogether. So, you should strive to find a balance. While promotion and salary hike may take a few months or years, recognition is something that leaves an employee satisfied and can be done instantly. So, practice that often. Say a thank you, acknowledge their effort, reward them with little something.
Tip: You can even use the Kudos feature in HR software to recognise the effort of the employee.
- Work overload is a demon-
Pressurising the employees to work more and more without putting the best of their efforts, and the brain isn’t what constitutes a productive workforce. The work may have been done but it still won’t give the desired outcome it is always better to focus more on quality than quantity.
Tip: Use an HR software to set the goals. Infact, you can hold a meeting, ask the employees to assign themselves work according to their bandwidth. You can then and there set their weekly deliverables easily.
- Carefree & bossy nature demotivates-
Remember, you are a manager, not a boss. The day you will start feeling superior or bossy, you will end up losing respect in the eyes of your team. The manager-team association works on the basis of mutual respect. So, make it a point to not yell at them, demean them. Instead, show them how much you care for them. The care has to be genuine you cannot fake it, otherwise, they will easily make it out. Give honest feedback and do constructive criticism. Never let the feedback be one way. Ask the employee what went wrong. Make him comfortable.
Show them your concern and that you are by their side and then start saying your part. They will not things personally and understand that all that you have said is because you care.
Tip: Use an HR software to monitor the performance and then give employees the feedback. The software also allows the employees to first evaluate themselves on their own.
Apart from the aforementioned points, you should know how essential communicating with your employees is. If you will refrain from doing what is being told above, at least you or low employee happiness quotient won’t be a reason for the resignation of the best employees. Use an HR software and not just the employees but the HR department will also be sorted as it will have a payroll software too!