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3 Ways Your Businesses Loses Valuable Employees (And What To Do About It)

Keeping your best employees in your business is essential if you want your business to be a success. Constantly having to deal with high employee turnover can leave your business on the rocks. The following are three ways you are losing valuable employees and what to do about it.

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You’re Not Listening

One of the mistakes that businesses make all the time is separating HR from the rest of their business. HR is seen as a business within the firm. Its function is purely in the realm of processing people so that the rest of the company can do its job. This is a big mistake. When HR is hands-off and assumes that people are happy in their roles, problems start to develop. Without linkages to other team managers, HR can’t get a sense of morale in the company. And without knowing why frustrations are bubbling up, they can’t do anything to remedy the problem.

 

HR, therefore, needs to take an active role in listening to employee concerns. Regular employee feedback needs to be considered and used to improve retention.

You’re Not Legally Compliant

One of the primary reasons companies lose talent is that they are not legally compliant. Businesses need to do all they can to make sure that employees have every reason to stick with them. If they’re not putting the right safeguards in place, employees have a clear reason to move on.

Legal firms, like Pinder Reaux & Associates Ltd, recommend companies consult with law experts first. They need to be brought up to date with the latest in employment law. And they need to know how to deal with staff grievances if they want to retain employees. The purpose here should be to make sure that there is nothing actively pushing employees out of the company.

You Have Poor Leadership

Talented people tend to be highly driven people. Often their talent is the result of all the hard work they’ve put in over the years. As a result, they often want to see clear leadership in a company. They want to know where the business is headed and why they’re doing what they’re doing.

But all too often, leadership is weak, even downright abusive. And bad management can quickly lead to escalating problems. In many incidences, businesses have experienced an exodus of talent, thanks to poor leadership.

So what can be done? Well, first of all, management need to clearly articulate goals to employees. Employees need to know why they’re doing what they are doing if they are going to feel satisfied. Companies also need to work on generating a more collaborative environment. Talented employees need room to spread their wings. They need to feel like they are contributing to the business. Allowing employees some scope to pursue their own objectives is a surefire way to improve worker satisfaction.

Lastly, it’s important that management is trained in the correct way to communicate with employees. Often misunderstandings can come about through a simple lapse in courtesy. These sorts of events need to be addressed if companies are going to retain their key talent.

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