7 Common Reasons For Losing Your Best Talent
Sometimes you can’t do anything about someone leaving your company. But you might as well learn from these 7 common mistakes that drive the best talent out of your door faster than you can say Talent!
Losing a great employee is an awful thing. There’s the expense of finding, onboarding, and training a replacement. There’s the uncertainty of what sort of new employee will work out. Then on top of that, the hardship on others within your business of an increased workload before the position can be filled.
Sometimes there’s a good reason. Maybe the person was a bad fit for the team, or moved away for personal reasons. They may have been offered an opportunity too great to pass up. In those situations, even if it’s a difficult changeover, it feels fundamentally right.
But how about the rest of the time?
Keeping your best talent starts with understanding why people leave. Listed below are seven of the most common reasons:
People don’t want to believe they’re locked into a groove and will come to the same place and do a similar thing every day for another 20 or 40 years. People want to feel that they’re still continuing to grow in their professional life. If there’s no career ladder or structure for advancement, they know they’ll need to get it someplace else. For the time being, they’re a lot more likely to be bored, unhappy, and resentful – things that have an effect on performance and the whole team’s morale.
2. Being Overworked
Some intervals of being stressed and feeling overwhelmed come with most careers, but nothing repels great employees faster than being overworked. Frequently it is the best employees-the most able and dedicated, your most trusted- you overload the most. If they end up constantly dealing with more workload, perhaps without recognition, they come to feel they’re being used. Who could blame them? You’d feel the same.
3. Vague Visions
There is nothing more frustrating than a workplace filled with visions and big dreams, but no translation of those aspirations into the strategic goals that make them achievable. Without that connection, it’s all just chat. Which talented person desires to spend his / her hard work in support of something undefined? People like to know that they are attempting to create something, not merely spinning their wheels.
4. Revenue Over People
When a business values its bottom line more than its people, the best talent goes somewhere else. They leave behind those who are too mediocre or apathetic to find a better position. The result is a culture of underperformance, low morale, and even disciplinary issues. Obviously, things like revenue, output, pleasing stakeholders, and productivity are important, but success eventually depends on the individuals who do the task.
5. Insufficient Recognition
Even the most selfless people desire to be known and rewarded for work well done. It really is part of who we are as human beings. When you neglect to recognize employees, you are not only failing to motivate them but also missing out on the simplest way to bolster great performance. Even if you don’t possess the money to provide raises or bonus deals, there are several low-cost ways to provide recognition. Compliments are free!
6. Insufficient Trust
Your employees have a vantage point for looking at your behavior and weigh it against your commitments. If indeed they see you coping unethically with suppliers, lying to stakeholders, cheating clients, or failing woefully to keep your word, the best and most principled of talents will leave. Even worse, the others will stay behind and follow your lead.
7. Excessive Hierarchy
Every workplace needs structure and management, but a rigidly top-down organization makes for unhappy employees. If your very best performers know they’re expected to produce without adding their ideas, if they’re not empowered to make decisions, if they are constantly having to defer to others based on their name rather than their experience, they don’t have much to be happy about!
Eventually, many people who leave their job do this because of the boss, not the work or the business. Consider what you may be doing to drive your very best people away, and begin making the changes you need in order to keep them.