#1 Reason People Leave Their Company
It is not uncommon that employees often walk away from what seems to be a great company. There are often factors behind the scenes that drive these key players to leave their company. High turnover rates not only affect your company’s revenue, but it also has a negative impact on employee morale. When talking to candidates, the most reoccurring reason we hear that people leave their job is due to a lack of opportunity and growth within their current company. In fact, of the last 20 placements made by Coley Company, 70% of the candidates placed were leaving their current company due to this very reason.
Companies should have formal conversations to discuss goals and aspirations for each employee. These conversations are crucial. In these conversations, you should share beneficial and realistic information. For example, you could say, “The future we see for you at our company looks like….” When you share a clear vision of the future for each employee, they then know what is around the bend and can focus on working to make that vision a reality. Another good conversation to have would be to discuss how an employee can grow their career. Review ways they can learn new skills to enable them to take on more responsibilities. Adding responsibility with compensation that reflects appropriately is also another way of providing growth opportunities. Having conversations that include statements like, “The things you need to do to grow your career with us are…” While it is important to share ways in which an employee can grow or flourish, it is also essential to share why each employee is valuable to the company. You might say, “The greatest value you bring to our company is…”
To encourage a stable team, be sure each employee is doing something that they are passionate about. Everyone must be passionate about the work they do. Passion is what excites us about what we do every day here at Coley Company. We are passionate about finding the best talent in the marketplace for our client companies. We are also passionate about helping people reach their career goals through better opportunities. Passion is also what fuels enthusiasm to overcome those difficult obstacles that we may face at work.
Each person on your team must visualize their career growth potential. It is worthwhile to tune into your employees and take proper action to make sure they are not only succeeding in their role but also passionate and fulfilled in their work.
Coley Company is an executive search firm focused on the apparel, textile, and nonwoven industries. Since 1997, Doug Coley has been a member of the Pinnacle Society, a premier consortium of top recruiters with the permanent placement and search industries.
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