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<p>What are some of the factors that leadership needs to implement for its employees to remain loyal?</p>
The myth:89 percent of employers believe that employees leave because of money.
The reality: 88 percent of employees leave because of things other than money.
According to the study, here are the top10 reasons employees quit:
Here are six reasons good employees quit you and how to keep them – none of which involves throwing a pile of money around:
1) No Vision
Most employees don’t get out of bed each morning trying to hit a profit number. In the majority of companies there are only a handful of people that truly care about it or, in some cases, even understand exactly what it means to hit that number. As a manager, don’t confuse your financial objectives with vision. Vision feeds financials and not the other way around.
For example, Walt DisneyDIS-0.41% was the master of painting a compelling vision of the future. He dreamed up Disneyland while his two young daughters were riding the carousel at Griffith Park in Los Angeles. Sitting on a park bench with other parents, he envisioned a place where both children and adults could play together. Today, Walt Disney’s vision is worth $128 billion and is his company is the largest media conglomerate in the world. Successful managers sell their employees on a vision of the future.
2) No Connection To The Big Picture
Gallup’s Q12 employee engagement survey asks the following question: “The mission or purpose of my company makes me feel my job is important.” Their extensive research shows that there is a direct correlation between how employees rate that one question and employee retention, customer metrics, productivity, and profitability. Gallup concludes that “The best workplaces give their employees a sense of purpose, help them feel they belong, and enable them to make a difference.”
One example of this dynamic is GoogleGOOG-1.11%. While almost no one understands exactly how Google’s search engine works, its mission is clear: “to organize the world’s information and make it universally accessible and useful.” It is a simple, actionable, and meaningful connection to the huge company. Successful companies and managers understand that business strategies may change, but a mission does not.
3) No Empathy
No one joining the workforce today expects to get a gold Rolex after50 years with the same company. Employers let hundreds and thousands of people go each year while employees are just as likely to leave companies for other opportunities. Generally speaking, there is very little loyalty on either side. But there is an almost ridiculously simple and inexpensive solution for that problem: Take the time to listen to your people.
This is not just talk therapy – they should leave the conversation believing that you will take whatever action may be helpful and possible or at least logically explain why nothing can be done. But by leaving your door open to employee concerns and suggestions, leaders encourage them to feel that they have a stake in an organization that considers them important and cares enough to listen.
4) No (Effective) Motivation
In the1990s, I spent several years working as a producer and director of Off Broadway productions. This wasn’t particularly lucrative work and I had to take on waiter jobs to pay my rent. But for theater aficionados like me, waiting tables was just a side job to enable me to do what I loved. In what I considered my “real work,” the rewards frequently consisted of internal gratification or audience applause. I certainly wouldn’t have turned down a big payday, but I could walk away from a poorly paid performance satisfied that I had done good work.
On the other hand, as a waiter I measured my success in cash, by the tips I had made. I rarely ended a poorly paid shift simply happy to have provided really good service. What’s more, because my job as a waiter offered nothing more than an opportunity to walk away with cash in hand, my connection to my employer was also monetized – a surprisingly weak connection.
In his2009 book Drive, author Daniel Pink examined decades of social experiments that described the phenomenon that I had experienced in terms of “extrinsic” and “intrinsic” motivators. The “extrinsic” motivators consist of traditional carrot and stick rewards such as cash bonuses or punishment – the reward environment in which waiters work.
The “intrinsic” motivators are internal desires to do good work or create a successful product – the goal of many people working in the theatre. Pink’s argument is that, in the modern workplace, the “extrinsic” system of rewards is often a less effective motivator, but one on which too many managers still rely. In fact, there is no greater myth in managing a team or company than believing financial compensation is a sufficient incentive to engage and retain top talent and drive high performance.
5) No Future
In her Forbes article “What Employers Need To Know About The Class of2012,” Jacquelyn Smith cites a recent study that shows that the majority of graduating students are looking for career advancement over anything else. This is certainly not a new concept, but a big disconnect from today’s burn and churn, transient employment market.
Creating career paths that are well communicated and understood by employees is not something most companies do well. Even in the best-case scenario where managers are holding regular performance reviews with their employee, employees often don’t understand how to move either horizontally or vertically in an organization. Of course, not every employee is going to end up as the CEO. Likewise, a person who is brilliant at product design won’t necessarily succeed in sales. But, for any employee that is worth retaining, a manager must make clear to them how and where they can move forward on their career path.
6) No Fun
For many employees, instant gratification is the new norm. The evolution of film, television, the internet, social media, and handheld devices means that everything is on demand all the time and wherever we may be. As a result, putting in eight straight hours of work at the same desk is less and less attractive to many employees. But this doesn’t mean the work force is lazier, it’s because defining work in such a traditional manner doesn’t make sense to employees in today’s constantly interconnected and fast-paced world.
For businesses, this means that attracting, engaging, and retaining top talent depends on reinventing their work environments, blurring the line between work and play. Companies must embrace a culture of increased autonomy and innovation, and engage employees around a powerful mission and purpose.
Employees work well when their work is recognized and appreciated. If they don't appreciate the work done by the employees and if they continuously pressurize them, they work be able to work properly.
Giving bonus is also a main thing. If they don't give bonus by recognizing their work or if their is no growth in the industry, they get upset and don't work properly.
This is an open ended question and answer could be any. however some of the reasons are as following:
1. They say people dont leave the organization, they leave their bosses.
2. Inactive HR department
3. Organizational Politics
4. No promising future
5. etc etc
salary, job stability, future in job.
I would say,
Lack of Personal Interaction
Work Atmosphere should feel like a home
Lack of Promising Future and smooth raise in Salary
If Organization's Customer service is not legendary
not participation in employee's personal happiness like as Birthday, having baby, Promotions etc
Respect and appreciation for a decent living
A work environment that does not provide:
1. growth regarding career, challenging work and team
2. empowerment to be innovative and creative
3. constant learning
4. management not facilitating with proper training, tools, processes
5. Lack of leadership and direction- being informed
6. lack of respect and inability to listen to and foster ideas
7. lack of use of humor- people that can celebrate and laugh together stay together
8. fair compensation
ٰ I would like to mention the top most key reason and that is LACK OF RESPECT. What does it mean?
The answer can be summarised in the following points:
1- Low wages
2- Limited opportunities
3- Injustice
4- Overwork
5- Poor working environment
6- Odd timings
7- Less facilities
8- Lack of trust
Good employees quit an organization for lack of appreciation by their superior for an extraordinary work that they do. Although money is a big part of being a happy and satisfied employee, being recognized for his or her effort is very important.
Another reason that good employees quit an organization is the absence of a clear career path or room for growth. Growth and progress is essential for an employee to continue working for an organization. When an employees know that down the road their hard work would pay off by being promoted, they would strive harder and would keep their loyalty with the company at bay.
