In India, more than 60 percent of respondents expressed a desire to leave their current posts, according to a report by Mckinsey. Is India ready for this?
In today’s world, it is becoming increasingly difficult to retain top talent. This is due to a number of factors that are impacting the way in which people are choosing to work.
One of the most significant reasons for this attrition is the increasing pressure on employees to provide more value with less time. To combat this, organizations need to think more creatively and find new ways of retaining top talent.
Reasons Employees Leave the company/jobs
Employees often cite a lack of career growth opportunities as one of the main reasons for leaving their jobs. This article provides insights into what companies can do to address this issue and retain valuable talent in the long term.
The following are some of the most reasons why employees leave the company:
Reasons Employees Leave the company/jobs
– Lack of work-life balance
Working in the business world means balancing work and personal life. But sometimes, that balance can be difficult to achieve, which is why employees leave their jobs.
Reasons Employees Leave the company/jobs
– Feeling unappreciated
With the rise in competition, employees are having to work harder and harder to prove their worth. And still, if the employees are not receiving an ample and significant amount of appreciation, employees don’t feel motivated enough.
Reasons Employees Leave the company/jobs
– Low pay
Some of the most common reasons that employees leave a company are low pay and lack of job satisfaction. This can be attributed to the fact that employees who are satisfied with their job will have more loyalty to their company than those who are not satisfied, thus staying longer with the company.
Reasons Employees Leave the company/jobs
– Lack of work culture fit
Every company has its own culture, and many employees feel like they don’t fit in when they’re hired. Employees are likely to leave an organization if they’re not happy with their workplace culture or if their work clashes with the company’s goals.
Post Pandemic there are new reasons that contributed to attrition
Now, the attrition rate is increasing even more due to new reasons.
Employees are seeking hybrid / remote work module
The pandemic has made almost everyone travel back to their home / native places. And this has made the employees like the hybrid work culture.
The pandemic has made almost everyone travel back to their home / native places. And this has made the employees like the hybrid work culture.
So the productivity level is retained and many resources are saved. That’s why, many employees are preferring the hybrid or remote work module, these days.
Post Pandemic there are new reasons that contributed to attrition
Flexible working hours
Many people have found that flexible working hours are helping balance the work and life balance.
Hence, instead of a fixed time, employees prefer to switch to flexible working hours. If the company is not allowing flexible hours, employees are preferring to switch the company rather.
Post Pandemic there are new reasons that contributed to attrition
Lack of interest in pursuing a professional career
Due to the following reasons, people have developed a lesser interest in professional careers:
Pursuing hobbies: During the pandemic, many people found an alternative way to earn through their hobbies or skills.
New revenues: Social media platforms and online opportunities opened up many doors of revenue for people around the world. And also people are exploring many new entrepreneurship opportunities. Social cause: People have become more aware of the social impacts and thus started working on social causes.
Agriculture: Being migrated to home town, many people have found a way to earn through agriculture and have shifted their focus to agriculture. Hence, such people are also preferring the Work from the home module.
How the science of preventing Attrition Supports Your Business
The science of preventing attrition supports your business. This means that if you want to keep your employees, you should ensure they are happy in their work environment and have a good experience.
The science of preventing attrition supports your business. This means that if you want to keep your employees, you should ensure they are happy in their work environment and have a good experience.
What Can You Do If Your Company Already Suffers from The Great Attrition?
Attrition is a problem that every company experiences. But, what can you do if your company has already suffered from the Great Attrition?
First, you need to understand why attrition is happening and what the root causes are. By doing this, you can better identify what needs to be done to prevent it from happening again.
Second, you need to make sure that your employees feel valued and appreciated by the company. This will help them stay with the company for a longer period of time and provide stability for the business.
Bottom Line:
Now businesses have to start adapting to new changes in people management and hiring –
- Hybrid work module
- Accepting New norms
- Flexibility for all the employees
- Creating retention modules (appreciation, incentives) for key resources
- Build a vision for all employees – visualize the growth path in the company, motivate employees to do better
Surely, monetary benefits play a major role in retaining employees. However, not all organizations can afford to increase their salary or give higher incentives. There is a limitation to providing monetary benefits. But organizations surely can bring new cultures and vibrancy to the work environment to retain the employees.
Add a Comment