Why Are Some Employers Bad At Staff Retention?
There’s no hiding it. Losing and replacing high-quality staff members is a drain on any business.
All the ‘best wishes,’ good luck cards and goodbye parties in the world can’t mask the fact that business owners would love not to have to go through the long, stressful process of recruiting replacements for people that quit their jobs.
Why do employees leave?
So, why is it that some employers have such a high rate of staff churn, while other brands turn into workplaces that no-one ever wants to leave?
Praise and positive feedback
It’s a common phrase in HR that ‘people don’t leave jobs, they leave managers.’ If you and the line managers below you aren’t good at making staff members feel valued, they’ll inevitably get a wandering eye when it comes to their employer. Being made to feel important is a huge reason why people choose the jobs they do, so managers should do everything they can to help their employees feel this way.
Room to grow
Most people in an entry or middle-level job don’t have ambitions to remain there forever. They want to see an opportunity to improve their skills and work their way up the corporate ladder. If they don’t see that opportunity with you, there’ll look for it elsewhere.
Even if a job is enjoyable, most people don’t strive to work for the majority of their life. Life is about having fun, so it’s worth doing what you can to make your business a fun place to work.
It’s easy to blame the employees and tell yourself that individuals who quit in these circumstances aren’t the sort of people you want in your business anyway, but the best entrepreneurs will always take personal responsibility. Always ask yourself: what could the company have done better to maximize this person’s potential? What would have made them want to stay and excel? This humbleness, lack of ego and willingness to change will help you continually improve your insurance business so that there’s less employee churn and less money wasted on recruitment.
In your insurance business, if you can avoid the unsavory traits listed above, while always trying to provide value and continually improving your workplace, you can become the employer that people love to work for. It doesn’t take an HR expert to work out what that will do to your bottom line.
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