3 Signs Why your Employees might leave you
Inside Employees’ Minds study shows 37% of all employees, regardless of satisfaction level, are looking to leave.
Attrition probably dates back to since the inception of jobs in various forms. But what majorly started as a mere consequence of the financial crisis has gradually shaped into a ticking time bomb as a lot of people prefer to say it. Attrition in India especially has been soaring high since then, citing the reason of new developments and job creation in the process. It got coupled with the complexities raised by the advent of the startup ecosystem which came along with hefty paycheques, cool office spaces, flexible timings hence driving the major shift.
But the fact of the matter is not everyone thinks that it is a function of external growth conditions.
There is no denying the fact that attrition in any industry skews up management planning and other processes for the organisation, it directly hampers the company’s productivity, morale and culture. Also, triggers up several hidden elements that cause and effect organization perniciously in all magnitudes.
So here are three key factors that can help organisations retain their biggest investments:
Employee wellness: According to the CDC, chronic diseases account for 75 percent of total healthcare costs, and the stress levels that employees deal with at workplaces accrues to all these problems which makes it imperative to foster healthy habits at work.
A sound wellness programme can reinforce the company’s morale by keeping the employees motivated and engaged. And while most of the corporate programmes don’t bring about much innovation in the way it concludes, a good way could be to interlink these programmes with the CSR activities.
Financial wellness: While the core essence of any wellness program espoused is to encourage individuals to take preventive measures to avert the onset or worsening of any disease or chronic illness, financial wellness finds itself in a pathbreaking role that can help employees stay.
Survey done by PwC states that most of the employees spend three or more hours at work each week thinking about their personal finances. At workplaces, chronic stress is unhealthy on its own, the financial stress multiplies the impact. Early in my career, I myself had a tough time dealing with taxes and PFs.
The battle is half won already if employees are well equipped with the knowledge of managing their finances.
Flexibility to change: Sound work culture just does not mean Friday beers and flexible office timings, but it’s a function of incorporating everyone’s demands and assimilating it provide a conducive growth environment.
The profound shift in the ways of doing businesses has prompted a need to provide a more flexible environment where one should not feel bound by the rigid layers of the old structure which do not encourage them to pick up new challenging roles and move to different domains thereby avoiding monotony.
Organisations are a bit skeptical about acknowledging these kinds of changes within but the recent studies indicate that flexibility like this helps an employee to redefine his learning curve and mitigate the attrition losses for the company.
We would love to know what do you think could be the biggest roadblocks that can obscure the path of successful employee retention!
