How to Retain Your Best Employees

employee retentionSave your business by understanding the reasons why your best employees quit.

Despite the record high unemployment rate in the US, more people are quitting their jobs today. According to the data gathered by the US Bureau of Labor Statistics, about 2.5 million Americans quit their jobs in March this year, the highest recorded figure since late 2009. What could be the reason behind this? Why are Americans quitting their jobs despite the bleak economy? Your management style can be one of the reasons why they do.

As the old saying goes, “People quit their bosses, not their jobs.” Could this be the reason why your best employees are leaving your company? If you don’t want your best people to quit, take an honest look at the situation to understand what you may be doing wrong and to see if there is something you can do to correct it.?

The Biggest Reasons Why People Quit

You may not know it, but your management style may be causing all the problems. Take a look at the following points to see if you are committing one of the biggest reasons why your best people quit:

Putting too many responsibilities on your employees’ hands. After the massive layoffs in the past 6 years, most companies tasked their remaining employees to take on additional workloads on top of their regular job responsibilities. If you have not revisited your staffing responsibilities and redistributed your people’s workload after all these years, now is the perfect time to do so. Assign higher level work to your best employees to keep them from being bored and leaving your company for good.

You are micro-managing your employees. Don’t fall into the trap of controlling the work of your employees and being overly attentive to minor details. Your best employees will not appreciate you constantly telling them what to do.

You hire or promote people based on your personal preferences. Hiring or promoting people just because you like them can destroy the morale of your team and lead to the resignation of your best people.

You care more about yourself. You need to show your people that you care about their career progression. Talk to them and ask them what they want to do with their careers. Give them some good advice on how they can get where they want to go. Share your personal experiences, if you must. They will surely thank you for doing so.

You don’t show them the big picture. You need to communicate your vision and give your team a clear direction of where you are heading. While it is perfectly okay to change strategies from time to time, it should not happen frequently or you will risk losing your team’s respect for your authority.?

Don’t let your best employees leave you. You can still do something about it. ?