Keeping hold of good performers is vital if businesses are to grow and continue to be profitable in the future. A reputation for losing good performers can be extremely damaging and hard to change.
Here are some of the top reasons why good performers leave:
They perceive a lack of advancement opportunities
The first point to emphasize is that the key is the employee`s perception of the situation, and not the reality.
There may be opportunities for growth that have not been communicated successfully to the employee, or the timescale involved may not have been clarified, leaving them with the an incorrect perception.
If there are opportunities, they need to be clearly explained, so that employees understand the actual position. Where limited opportunities exist, it is often worthwhile examining whether they could be created.
A common problem is when good performers expect to be promoted much faster than the company is used to. Here the firm needs to find ways to reduce the gap if at all possible.
They feel their contribution is not valued or appreciated by others, hence their work is not important
Employees naturally want to feel their work serves some purpose; sometimes the link between their contribution or role and the final product or service is not easily visualized.
Unfortunately unspoken appreciation is rarely recognised. A few words of thanks can go a long way towards retaining good employees.
Limited chance to use their natural talents
Sometimes good performers are restricted to those roles in which they have previously performed well. For the firm this may seem sensible, but does run the risk of them departing in search of opportunities to use other skills they may possess.
Finding opportunities for employees to use additional skills may be difficult but with luck you may be able to create some.
Their expectations have not been fulfilled
These expectations may have been unrealistic, or have been due to slightly misleading information at the recruitment stage. Either way, far too many good performers are lost due to communication breakdowns.
Regular dialogue between management and employee can help to minimise this type of situation. Equally, a realistic job preview at the interview stage is to be recommended.
They are unhappy with the way they are being managed
Unfortunately, managers are behind a significant proportion of employee departures. People management is notoriously difficult and the value of having managers highly skilled in this area is enormous.
The departure of a favoured manager is often followed by the departures of good performers unhappy with the style adopted by the replacement.
It may be worthwhile reassigning roles so that managers who are not strong in this area can focus on other aspects.
They do not share the firm`s values
For some individuals it can be very difficult to sustain working in an environment or culture that does not share their values.
If this is a common problem, it may be appropriate for the firm to adopt the values of it`s best performers. An additional benefit will often be that similar high performers are attracted by these values, improving the quality of the pool from which the firm recruits.
Final thoughts
To avoid losing good performers, be the firm they want to work for. Make sure communication is two way; get feedback on values, on management styles, on making best use of talents.
Keep hold of your best performers, they make the difference.
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