I read an article recently that described a CEO who was determined that his entire organization should return to the office during the pandemic. Mounting evidence pointed to this decision causing a higher rate of attrition at the company.
In the face of competition where remote work is a possibility, and in the midst of what many are dubbing “The Great Resignation,” I was inspired to write about things I think all employers and top executives should acknowledge and act upon when it comes to increases in turnover.
Trends To Watch Out For
First, do not ignore trends. When backed up by numbers, trends should be considered heavily in HR decisions as these also affect talent acquisition. If unusually large numbers of people are leaving, and especially when it includes new people, this is uncovering a deeper-rooted problem that should be addressed immediately.
If the employees leaving seems coordinated, it usually means that people are talking among themselves in the company. It also results in competitors becoming aware of the deficiency and preying upon the situation.
Think about it, when someone switches to a new job, they tell family and friends and communicate with former workmates as well as new ones. In the end, if employees are willing to leave after a short period of time, things have gone horribly wrong.
Assuming that they were actually a good fit for the job, there are usually only five main reasons why someone would leave after only a short time.
Why New Employees Take An Early Exit
1. They realize, almost instantly, that they made a bad decision and would prefer to be unemployed (and eventually find something new) rather than deal with the situation at your company.
2. The other jobs that may have been their second or third choice suddenly became first. Or the competing recruiters may have stayed in touch and taken advantage of the unhappiness and recruited them away.
3. They never actually stopped looking after starting at the job, especially when they observed one or more undesirable things after they got there.
4. Some promise wasn’t delivered or something substantially changed with the job arrangement that was undesirable to the new employee.
5. They want to start their own business or had some other life-altering reason. This is probably the least likely scenario if they are a new employee.
The very first thing an employer or an executive should ask themselves and their team when employees are leaving is “why?” Keep asking the question and don’t stop until you find the answer.
If not, their organization will continue to be perceived as a less-than or a second option and will have a very difficult time attracting or retaining future talent, which we know is the lifeblood of any successful company.
Just like public speaker and entrepreneur Quint Studer said on one of my shows this year, true leaders, the really good ones, aren’t afraid of the truth. They are willing to accept it head-on and deal with the issues. They don’t make excuses and say it’s the market or something else.
So I encourage you to tackle any issues causing attrition quickly and directly, for they are the lifeblood of your company. The good news is that if they are addressed, both talent acquisition and retention will improve greatly. Employees tend to want to be part of the solution, not the problem.
