Most of the study materials were only peripherally related to my actual job, and the practice questions were equally inane. I started wondering if I would have to repeat the process in 10 years. A google search between study sessions quickly opened my eyes to the concepts of Financial Independence and Retiring Early.
Getty Images I've done a lot of research over the years to drill down to the most likely reason for employees to quit and answer the question, "How do you stop the bleeding?
The data from my research on employee retention is astounding and not entirely positive. Here's a short sample of what I've gathered in the past few years: Gallup research has already proved that the immediate manager is your likely culprit.
The Mistakes Managers Make But what's interesting to note are the common mistakes managers make that may result in their employees quitting -- all avoidable if given the right skills.
The evidence is clear here that there's a leadership gap due to how managers can mismanage human beings -- many don't have the mindset or capacity to lead in the first place but, unfortunately, get promoted to management on merit or because of a leadership shortage within their companies.
Here are eight management mistakes that I see floating to the top, time and time again. Not recognizing their employees' unique strengths Gallup proved that managers fail to identify and utilize the strengths and talents of employees that go beyond a job description.
People love to use their unique talents and gifts, and the good managers will develop relationships with their employees to find out what their strengths are -- and bring out the best in their employees.
The research is saying is that turnover is lower when managers adjust jobs according to individual talents and strengths. Poor communication with the team Billionaire entrepreneur Richard Branson doesn't mince words about the importance of communication.
Communication makes the world go round. It facilitates human connections, and allows us to learn, grow, and progress. It's not just about speaking or reading, but understanding what is being said -- and in some cases what is not being said.
Communication is the most important skill any leader can possess. Gallup research has revealed that employees whose managers hold regular meetings with them are almost three times as likely to be engaged than employees with managers who ignore them.
Not sharing information A leading cause of turnover -- when done repeatedly and intentionally -- is hoarding information.
A manager who hoards information does it to control his environment -- it's a power trip, and his people cannot trust him as far as they can see him. If you've read Patrick Lencioni's masterpiece The Five Dysfunctions of a Team, you already know that the foundation for any good relationship is trust -- it's the foundation for his pyramid model -- and that foundation of trust simply cannot happen without transparency at work.
As a result, employees working for managers who share information will work harder for them, respect them more, be more innovative, and solve problems much faster. Micromanaging This always tops the list.
So how do you avoid a micromanaged environment? First off, are you placing emphasis on training your best people properly -- especially during those crucial first six to nine months of your onboarding process? Wait, you do have an onboarding processright?
Second, are you giving your people constant feedback and setting expectations, and, equally important, are you listening to two-way feedback that will further support their needs and build you up as a leader and help improve the business, I might add?
Last, are you allowing your people to give their input and best ideas, and to make decisions on their own? In other words I use this expression a lot:For many of us, submitting a job application and getting no response from an employer is worse than getting their application rejected outright.
To help calm your nerves (at least a little), you should know that career experts say there are a few logical—if annoying—reasons an . Feb 01, · Virtually every study on the subject shows that these agreements reduce wages in an area, since many people get their largest raises when they leave their company or threaten to.
More than half of people who leave their jobs do so because of their relationship with their boss. Smart companies make certain their managers know how to balance being professional with being human. Research has already proved that people leave managers, not jobs.
But when you drill down to the causes, these top reasons emerge. But, the majority of reasons why employees quit their job are under the control of the employer. In fact, any element of your current workplace, your culture, and environment, the employee’s perception of his job and opportunities are all factors that the employer affects.
I know lots of people who work at companies like Google and reach a day where they start daydreaming about quitting.
There are as many reasons are there are people, but some pretty typical ones are.