Retaining Your Employees
A type of social entity that is composed of people with the same goal in mind is called an organization. And organization or firm is nothing but just a name without its most valuable asset, its employees as the employees are what allows the company to achieve its goals and hit target results. A group of employees will not only form an organization, but they are the ones who give the organization a certain competitive advantage.
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Higher tier employees like managers all the way down to the humbler ones such as foremen are what allows companies to have a great competitive advantage over other organizations. These employees have the skills, capabilities, behavior, efficiency, knowledge and etc required for any company to execute any plans. Thus, without the support of employees be it from the lowest position to the very top, an organization equates to nothing, so it’s the best that they are held on to and taken care of.
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Employee retention literally means the company, organization, or firm’s ability to keep or retain its employees. Employee retention is not as easy as it may sound and will require some strategic moves. What this means is that organizations need plans and proper policies to keep their employees. So in order for an organization to be able to keep its employees, it’s good to know why they would want to leave in the first place.
Reasons why an employee might want to leave:
Pay grade -One of the most apparent reasons why somebody would want to leave an organization is their salary. The main reason why somebody would want to work is money. People work to earn some money, that’s why people look for jobs and there will always be the tendency of a person leaving an organization for an organization with better pay for practically the same work or if they feel like they are being too underpaid.
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Lacking Motivation: Motivation is the psychological factor that drives and encourages an employee to work hard to achieve desired goals. Motivation is needed every now and then to boost morale, this could be in any form be it monetary or not. Morale and an employee’s passion to work is very important. And what better way to provide that than motivation.
Lack of Proper Management: Good management means employees will want to stay. Lack of managerial skills will only cause the number of employees drop down at a constant rate. Managers don’t need to be strict at all times, there are some situations that requires politeness. Managers need to provide employees better solutions to problems, and to do so they need to hear them out.
These are just common reasons as to why employees, there are other personal reasons as to why an employee might want to leave and go about looking for another job.
To have an employee replaced is 3 times more expensive than their salary, although it might be hard its actually better to keep them around.
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