Employee retention is a real struggle for companies in Hong Kong. The Hong Kong Institute of Human Resource Management’s Manpower Statistics Survey shows an average turnover rate of 10.9% in the first half of 2018. This costs businesses not only in productivity but also financially.
“Despite the fact that most organizations know that their long-term advantage resides in their people, most companies don’t think critically about how to increase employee retention.” Huffington Post.
While there are many reasons for moving on, a common reason we hear from candidates is a poor relationship with their boss. Have you ever felt that your boss asked for dedication to the company yet you haven’t felt appreciated in return? This doesn’t encourage the loyalty that companies look for.
So, what makes a good boss?
A supportive manager recognises your strengths and develops them while supporting you in areas you can grow and improve. They set goals and create a strong learning opportunity for you within the organisation to ensure you are motivated and engaged.
According to Sarah Landrum at forbes.com, here are some key questions to consider when reviewing your current role or looking for a new one:
- What value does an employer place on you as an employee?
- Are you there to get the job done and go home?
- Are you paid fairly, well-trained and confident in your job security?
- Do you work under good job conditions?
- Do you receive constructive feedback, or do you feel demeaned or invisible?
Managers are often the pillar of support for employees in corporations and surveys have shown that a manager’s support can have a huge influence on one’s job and career. Having the right support and a good relationship with your boss plays a vital role, impacting success and happiness.
Written by: Sarah Hoare, Senior Marketing Executive at Aspire