One of the major problems businesses face is engaging and retaining employees. Losing good employees is a feeling that you rapidly become used to when you're in control of a company irrespective of its size, market, or geography.

According to research, 43% of all Millennials in the workforce intend to quit their current role within the next two years, while only 28% intend to do so over the next five. Employee turnover is a pattern that shows no signs of subsiding, and it is anticipated that future generations will demonstrate similar patterns. However, the best onboarding programs that are well-planned and efficient training can help significantly reduce the employee turnover rate.

If you are still worried that the turnover rate at your business is unnecessarily high, this article discusses the main barriers to top talent staying with your business as well as fixes. 

Why do companies lose good employees?

Absence of autonomy/trust: Due to the company's lack of confidence in employees, there are instances where employees are subjected to constant scrutiny or function in a restrictive setting. In environments where employees feel trusted to produce work of a high caliber, the best talent will often quit. A perilous approach to a high employee turnover percentage is to place too many limitations and restrictions in the way of employees' liberty.

Lack of a compelling offer: Even though it may not matter to every employee, money will most likely play a significant role as to whether they want to stay with your company or resign from it. If you don't give your employees significant reasons to stay, such as an increase in pay or other perks, they need to feel that their efforts are appreciated.

Lack of an onboarding program: Retaining workers begins on day one. New employees may feel confused and alienated as soon as they join your company if you don't have a formal onboarding strategy or approach. Early perceptions matter equally much to the hiring employer as they do for the newly recruited employee; by commencing off poorly, you are at risk of having employees to be ably contemplating quitting within a few months.

Limited Communication: If you wish to maintain good talent, communication is crucial. Employees should be able to raise issues with their supervisor or co-workers and anticipate a reasonable answer. If there is little or no interaction, your new hires will feel ignored and that their contributions are irrelevant. Most individuals would choose not to spend their hours at work—which occupy a significant amount of their time in solitude.

How to retain a good employee who wants to leave?

Regularly assessing the health of your staff: Constant communication with your workforce via regular employee evaluations or discussions with the supervisors, helps employees feel more connected to and supported at work and allows you to recognize and address any early signs of unhappiness.

Promote their drive to learn and develop: Give talented individuals the opportunity to improve within and outside of the workplace if they wish to develop and use their expertise at every chance. Recognizing and appreciating the achievements of your employees when they succeed and demonstrate signs of improvement, encourages them to learn and grow while also improving the retention rate.

Establish a flexible workplace: Workplace flexibility is increasingly establishing itself as the norm, and businesses that are resistant to change carry the prospect of experiencing a high workforce turnover. Giving your staff autonomy will likely make them more confident, efficient, and less susceptible to exhaustion.

Adequately train your management teams: Spend time training your leadership team so they can embrace and assist both existing and new employees, as a poor relationship with the administration is one of the main reasons why staff choose to quit your company. This ensures that the risk of interpersonal differences is minimized, and it also individuals in the organization are appreciated.

Bottom Line

Poor onboarding, low engagement, and the desire to progress in the career, among numerous other factors, are the primary reasons why individuals today search for new work opportunities or switch jobs so regularly. As a result, if effective action is not made immediately, your competent and driven talent will look for opportunities to undertake more accountability in other organizations. The main reasons why competent employees leave your company have been discussed in this article, together with solutions that will enhance your ability to keep them aboard and prohibit them from switching sides to your adversaries.