Do you still regularly read the classifieds and job postings, even though you’re satisfied with your current job? You’re not alone. A study conducted by Kelly Services, a European recruitment firm, found that almost half of all satisfied employees still continue to look for alternatives. In fact, 60 percent have the intention of looking for a new position sometime in the next year.
So why are even the happiest and most engaged employees leaving, and more importantly, what can you do as a manager to hold on to your top talent? To keep your best employees right where they belong – in your office! – work on fostering a positive work environment, and making them feel appreciated.
The ratio of employees to managers poses a large problem. The study found that only 29 percent of all employees feel loyalty to their current employer. This could be due to a lack of training opportunities – only one third of these subjects believe that they could grow while staying with their current employer. In addition, employers are an increasingly important factor in the lives of employees. Only 38 percent believe that their employer gives their lives more meaning. But in 2012, this number was at 47 percent.
Which factors lead employees to change jobs?
When an employee leaves, it can quickly lead to a lot of expenses for a company. Experts estimate that the costs are around 30 to 150 percent of an employee’s average salaries. This is without including the value of an employee’s knowledge, as well as his social skills, both of which represent a loss for the employer.
The main factor for changing jobs is, as always, financial. This accounts for 60 percent of the core criteria. But it would be wrong to assume that companies can only offer their employees financial incentives, in order to keep them. Another critical factor that brings employees to look for new jobs is the lack of opportunity for professional development with their current employer (41 percent), closely followed by a lack of work-life balance (36 percent).
These factors are even more valuable to an employee than a raise or a promotion. What can your company learn from this? Besides financial incentives, you should also ensure that employees can reach their full potential within your company, and possibly move up to a better position. A good work atmosphere is also essential if you want to keep your best employees engaged.
How can companies find top talent, and keep them?
Create an ideal work atmosphere: Employees want, above all else, a good work-life balance, the chance to move up in their careers, and opportunities for growth and continued education. A comfortable work environment plays a central role for many employees.
For example, a constructive collaborative process with teammates should be possible. To be productive and satisfied, job seekers treasure flexible work times as well as modern technology and office equipment. Many also consider it very important that their employers value innovation and creativity in the work place.
We hope that these insights help you to recognize the needs of your employees, and to ensure your employees’ satisfaction. In order to be productive and successful, your company’s employees require a harmonious working environment. We wish you success, and hope that with these tips in mind, you can hold on to your best employees.
