Business Transformation

Why Companies Lose Their Best Employees – What To Avoid

Hiring and firing is a luxury. In some cases, employees leave on their own and it is probably the best you have, the ones who will have a stroke of better luck when they leave and join another company. Here is the most common reason why the best employees might turn their back on you.

Have a look, keep them in your company and give them a reason to stay as soon as possible.

  1. The strategy of divide and conquer
    In an attempt to make their workers more productive executives often promote competition. Competition is promoted between members of the same team and separate departments as well. The result of that is that teams tend to become hostile and they barely look like anything that resembles a team. Workers cannot put the best out of themselves because they are not working in an environment where they can trust others. This causes several issues to their final performance and at the end, they get disappointed themselves, plus they don’t get to enjoy their time in the office.
  2. Fewer opportunities for career
    Good employees are good because they are ambitious. They do not work just for the salary. They need more. A company that does not have a vision and that does not allow workers to evolve and get promoted will not keep those people for a long time. People need to have a goal for the next 3 to 5 years that will keep them committed and let them realize they are not wasting their time. They also have to see that in the business’s effort. Does the company train them on new stuff? Do you send them to conferences? How do you see their future with you? Small things that can make a difference are vital.
  3. Negative feedback and how you give that
    Negative feedback is always disappointing. Instead of making the workers feel bad about their performance, it is better to explain how they can do better. Set clear goals that they can understand. If they know what they have to do and they are one of the best you have, as we mentioned earlier, they will surely do well in their tasks. It is bad for someone who has great potential, to be underestimated in their working environment and people can sense when their talents are appreciated and when they are not.
  4. The role of evaluation and annual performance review
    How an employee is evaluated is one of the most challenging procedures to build up good communication. Big companies often settle for the annual performance review where they focus on how each individual in the company performed the past year. Employees often get surprised by the evaluation. In addition to the negative feedback, they may experience from time to time a negative annual performance review will make them angry. They will think they should be noticed earlier instead of getting trapped. Many companies have second thoughts about its significance lately and they reconsider how often an evaluation should be done.
  5. Wrong match of talent with tasks
    Many times we find talented people among the list of candidates and we are eager to work with them. We hire them but the opening positions are not their best fit. Employees realize that they have more to offer and they underperform at the post they are in. In an attempt to evolve they seek the right opportunities. They may stay in the team for some time but in the meanwhile, they are searching for jobs in other companies. When the right opportunity shows up they quit their present job leave the company. Apart from the fact that you lose the best brains from your team, keep in mind that you have never had the chance to make use of their unique talents for your business. We would say this is a lose-lose situation.
  6. Salary benefits and honesty
    A satisfying salary is an apparent condition that has to be fixed in order to keep a good worker. It is depicted in the numbers how much you think their services worth. Of course, it is not only the salary. A variety of other benefits that your company may provide can attract and make some of the employees change their mind and finally stick with you. Last but not least, it is always a matter of what you promise. Employers are not honest in many cases regarding what they are willing to provide. Smart workers will detect these situations and leave. It is better, to be honest and clarify what you can offer and why.

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Aastha Maheshwari
Aastha Maheshwari, Staff Writer for the CEOWORLD magazine. Aastha has a decade of experience as a journalist and editor working for various magazines, newspapers, and digital publications and is now a Staff Writer at The CEOWORLD magazine. She is passionate about disrupting the status quo and unlocking the business value to create sustainable results. She specialized in reporting on both local and world news, as well as interviewing well-known business leaders, senior management executives, investors, and high net worth individuals. She can be reached on email aastha-maheshwari@ceoworld.biz.