All companies are run by people. We sometimes put too much emphasis on the importance of technological infrastructures and other sophisticated business tools that we forget to realize that manual work is still needed to run and manage these expensive and often complicated gizmos. Running a Brisbane bookkeeping firm, we highly value technological advancements, but we put higher significance on the people and colleagues working with us.
Taking care of your employees and enhancing your employee retention rate is a win-win for both your business and your staff. When an employee leaves for any reason, your staff has to deal with additional workload, you have to incur hiring and training costs for the replacement, and productivity suffers in the transition of tasks. If the employee leaves in order to seek better employment, you’re likely to suffer low morale and agitation of the remaining employees. They too, are probably planning on their escape.
Why Good Employees Quit
Avoid the resulting problems of a leaving employee by not letting them go. Before you can give them the best care, first know the reasons why they are leaving;
Ø Not enough recognition of their work – Everyone wants to be recognized. Acknowledge the effort and the impact their work has to the overall business. Recognition doesn’t always have to be in a formal awarding ceremony or in a form of a promotion. An email, a pat on the back, or a simple ‘Good job’ will suffice as long as you are sincere with it. To make it lasting, a printed and framed certificate handed out over staff meetings will get the message across.
Ø Less than respectful workplace – Respect should be observed company-wide, regardless of position, seniority, and sex. There should be no form of discrimination within the work environment. Employee mistakes and problems should be dealt with professionalism and respect to the person.
Ø Dead end career – Employees will naturally seek advancement in their careers. Make sure that you have career advancement programs for your best employees. Offer higher positions, better pay, and bigger responsibilities. Nobody will want to work on the same position for a number of years. Promotions will also serve as a good incentive to better performance.
Ø Poor working conditions – Are you giving tools for them to adequately perform on their job? Are you providing a safe and comfortable workplace? Working with outdated or inefficient tools lowers productivity and stresses workers. Looking after the wellness and safety of your employees will not only ensure productivity and minimize attrition, but will also promote loyalty among your staff.
Ø No skills development program – Your employees should feel that they are learning something from their job. Company sponsored trainings and seminars will not only improve their skills, it will also result to better productivity. Growth and development can also come from industry exposure and experience.
Ø Weak or lack of leadership – Good workers need good leadership. If you have a leader in your team, give him or her leadership roles. If you fail to lead them properly, their efforts are likely to be wasted, and they know it. Thus, good employees will try to seek other employment where they can find better leadership.
Ø No voice in the organization – Give your employees a chance to say their piece and contribute ideas. CEOs and leaders of big companies are known to pop unannounced and chat with employees. Some would invite random employees for coffee. If you don’t have time for personal conversation, you can also establish an open communications channel like an email or a suggestions box.
As much as you strive to acquire and implement modern business processes, make sure that you also recognize the intelligence and the labor behind it. Good employees are the greatest assets of your company. Pay is not the only reason why employees leave. As a Brisbane bookkeeper, I know the implications of hiring and training new employees, who are not yet assured to be a good fit to your office. Try to keep trained and seasoned workers who have proven their worth to your company.