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Want to Decrease Attrition Rates in Your Organisation? Here Are 3 Important Tips

An employee’s perception of internal growth and professional development opportunities is one of the most important factors that contribute to employee engagement. Thereby, a lack of a growth structure within an organisation causes employees to be unmotivated and unhappy.

In a study by 1Quantum Workplace, employees listed professional growth opportunities as one of their highest drivers of engagement. Conversely, exiting employees listed lack of growth opportunity as the second highest reason for leaving. Every employee’s career growth and development should matter to your organisation – the long-term benefits of putting your employees first are substantial and long-lasting.

A study by 2Willis Towers Watson found out that more than 70% of high-retention-risk employees say that they will leave their organisation in order to advance in their careers. What is even more crucial is not the number of employees who quit but the type of employees. If the crème de la crème of your organisation is unhappy and want to quit, you’ve got a problem right there.

Here are 3 things that you must consider:

1. Are your employees up-to-date?

Encourage your employees to train in their relevant fields of expertise. When they see that you are invested in ensuring that they grow and excel in their particular field, their productivity will automatically increase. A plus point is that your employees will always be on top of their work game. Making sure that training is part of their work will enable your organisation to always be one-step ahead in the game.

2. Do your employees work with a vision and purpose in mind?

Your employees want to feel like they are appreciated and are making a difference. When you encourage your employees to work with a vision and purpose in mind, it will change they way the work. It will inspire as well as challenge them to give their absolute best. A good way to do this would be to ask each of them to write a vision statement of their ideal role in the organisation. The management of the organisation can sit and work out a strategy as to how they can aim to work towards these goals. If employees work with no direction and no sense of purpose they will eventually get frustrated and look for better alternatives.

3. Is there a career growth strategy in place?

Having a career growth strategy in place is absolutely necessary. It will consist of a combination of several techniques and processes.

– Set SMART Goals
It is important for managers to spend time with each team member and set SMART (specific, measurable, achievable, relevant and time-bound) goals. There needs to be a system of accountability – this will help individuals be persistent towards achieving their goals.  

– Leadership coaching
If you see employees have the potential to manage a team, invest in training them.

– Hire a career coach
The advantage of this option is that the career coach will be able to advise your employees on how they can grow in their roles as well as reach their optimal potential.

Remember, your organisation succeeds when your employees succeed. Empower your employees and invest in their professional growth. We have an excellent career wellness program that consists of workshops as well as one-on-one mentorship programs. Get in touch with us today to know more.

Sources:
1. Quantum Workplace, employee engagement and career growth opportunities.  
2. Willis Towers Watson, Employee Retention Risk. Lucia Carrera, Richard Luss and Jing Wang. June 19, 2015  

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