High staff turnover rates are causing constant headaches for employers up and down the UK, with good quality employees jumping ship and moving to pastures new.
Not only does the increased pressure on the remaining workforce have a detrimental effect on the well-being of your remaining employees, but the costs of attracting, recruiting and retaining a replacement candidate can soon mount up when there’s several employees moving on.
And then there’s your reputation to consider – if your found to have high staff turnover levels, then prospective candidates will start to question why so many employees leave your business which will have a negative impact on your recruitment efforts.
If your experiencing high staff turnover levels that’s causing your business problems, then take a look at some insightful data from our friends at CV Library who’ve uncovered some interesting findings that show exactly why staff are seeking to move on.
Here’s the top nine reasons given by employees for seeking out a new role:
1. Bad management (47.3%)
2. Being underpaid (33%)
3. No development opportunities (31.2%)
4. Being undervalued (30.5%)
5. It’s boring (24.1%)
6. Poor work/life balance (21.3%)
7. Being too stressed (20.3%)
8. The workload is too high (17%)
9. Not liking their boss (11.3%)
Many of the reasons cited above can easily be addressed before it gets to the stage where an employee hands in their letter of resignation, however it will take time and effort to make any adjustments necessary to current salary bands, development and training opportunities or any other issues that might be to blame for your staff leaving.
The first stage in addressing the reasons your experiencing high staff turnover is to look at the information your given by the departing employee during an exit interview. If you spot any ongoing trends in the reasons they give for leaving, then it’s time to re-address the situation before any more staff decide to follow them out of the door.
If you’re experiencing high staff turnover levels, or require help and advice on staff retention techniques, speak to a member of the Appointments team on 01782 338787 today or email email@example.com