Employees are the lifeblood in most Philippine organizations. They are one of the most important assets an organization can have. The workforce is what leads a business to achieve its goals. Moreover, they bring value to the products and services offered by the business. Without them, businesses won’t be able to function properly. Actually, they won’t be able to function at all! This is why it is important to take a proactive approach in retaining your employees. Otherwise, your talented and skilled workers might decide to quit the company.
Employee turnover has serious negative implications for businesses. A high employee turnover can hurt the business in terms of cost and productivity. Furthermore, it can affect other employees’ morale and workloads as well. Ultimately, it disrupts the smooth flow of business processes and causes damage to the workforce. It is crucial for managers to retain their employees. However, In order to be able to implement employee retention strategies successfully, you need to understand why employees leave in the first place. You need to look at things from their perspective. Here are some reasons why your employees want to resign:
Dissatisfied with compensation
When talking about jobs in the Philippines, salary is a major consideration (and issue). One of the most common reasons why employees leave is because they feel underpaid. Giving a salary below market average could cause them to jump ships to another company. They could discover what other people in their field earn in other companies and realize their worth. If you don’t want this to happen, make sure you give proper compensation to your employees. Ensure that their salary is fair and well according to the value, skills, and expertise that they provide. Moreover, always be transparent with salary changes as well as a detailed basis in case a salary raise is denied. Compensation is a good motivator for employees to stay so offer competitive and fair salaries as well as other benefits.
Corporate culture isn’t fit for them
For employees, company culture and the work environment make a difference. Company culture refers to the set of shared beliefs, values, behaviors, and attitudes within an organization. Employees want a culture that makes them feel welcomed and gives them a sense of belonging. They are more likely to stay in an organization with a culture that fits their behaviors and attitude. If you want a good overall culture for your employees, you should promote open and transparent communication among management and employees. Moreover, create a work environment that fosters employee engagement and satisfaction. Implement team-building activities and celebrations in order to make employees feel that it is the best place to work.
Feeling undervalued
In the Philippines, being underappreciated and undervalued really takes a toll on employees’ motivation. Imagine working hard on a project, all day and all night, only for it to go unnoticed. When hard work and accomplishments aren’t recognized, employees tend to seek appreciation somewhere else. It might lead them to switch jobs and find a new company where they will feel valued and appreciated. In order to avoid this, promote a work environment that gives credit where it is due. Showing appreciation does not necessarily mean you should give awards or financial benefits. It can be as simple as verbal recognition and encouraging feedback.
No career growth within the company
Employees don’t just look for jobs that are mundane and easy to accomplish. They want to work in an organization where they’ll be able to improve their skills and advance their career. If they see that an organization will take them nowhere further in life, chances are they’ll search for another company with better career growth opportunities. Make sure to make your employees feel challenged at every task assigned to them. Avoid giving out mindless jobs, instead, give tasks that allow your employees to be engaged meaningfully. In addition, create new challenges and goals to allow your employees to learn and develop new skills.
Relationship with management and coworkers
The relationship an employee has with the people within the company is also a crucial factor. Though they don’t need to be friends with everyone, they still need a positive relationship with their managers and coworkers. The relationship they have with the people they work with significantly affects their morale, productivity, performance, and satisfaction. A toxic relationship with their managers and coworkers will probably urge them to resign. To avoid this, create a healthy relationship with your employees filled with trust and transparency. As the boss, spend time with your employees and make sure you’re approachable.
If you want your business to be successful, you need to invest in your employees. They aren’t just your subordinates, but they are your customers as well. Your talented and skilled workers are also your greatest assets. Make sure they get what they deserve. Otherwise, you may find yourself losing more employees.
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