3 Reasons Why Your Employees are Leaving
Are you suffering at the hands of the Great Resignation, or does this phenomenon have much deeper roots? We teamed up with Comensura to get to the bottom of why everyone seems to be leaving.
Are you noticing a lot of empty desks around you (or fewer people on group Zoom calls) these days? Perhaps your Friday nights are filling up not with weekend celebrations, but with leaving drinks.
If so, it’s possible that your workplace is the latest victim of the Great Resignation. Sure, it might be a blip on the radar, something that will pass in the coming months before you go back to having a full and happy team.
But equally likely is that it’s something much deeper. In a recent eye-opening report (with thanks to Comensura), we revealed 10 reasons that your organisation is losing the competition for talent (and they aren’t the reasons you’d think). Read the report here, and see the most interesting reasons below:
1. You’re stuck in the ‘old normal’ world of work
Have you ever caught yourself saying ‘that’s just the way it’s always been done’?
Do you ever find yourself thinking that work ‘couldn’t possibly’ be done as well at home as it is in the office?
Or perhaps the idea of someone working part time would just be ‘too hard’ for your team?
Unfortunately, many of these ideas belong in what we’re calling the ‘old normal’ world of work, where we all sat in the same office from nine to five and processes and procedures ruled our lives. Times have changed, though, and clinging onto the old world will send those high attrition rates soaring even higher.
Fortunately, it’s not that hard to break free from an old-world mindset and transition to a more modern approach that takes your employees’ needs and wants into consideration.
Discover what you need to do here.
2. You’re not nurturing your talent
You hired your people for a reason. But are you forgetting to develop them? If you’re not prepared to invest in people’s personal and professional growth, rest assured: your competitors will.
In sales, they say it’s 5x more expensive to find a new customer than keep an existing one. The same can be said for your workforce.
According to one estimate, it can cost between $4,000 and $20,000 to hire a new employee, depending on the level you’re hiring at (and that’s before the person’s salary and benefits are accounted for). In the UK, it has been estimated that total costs of a new hire can exceed £50,000!
A meaningful training and development offer should sit at the heart of your retention strategy. Don’t force your people to go because they want to grow; show them they can do it with you.
3. You’re overlooking the power of purpose
The Great Resignation has put a lot of pressure on employers, especially when it comes to wages. The message seems to be that you need to offer the highest wage in the market or you’ll simply lose all the best candidates.
But this isn’t true.
Increasingly, employees are looking beyond wages for one thing they consider vitally important: purpose. A recent survey found 83% of millennials would be more loyal to a company that allows them to contribute to larger societal issues. Additionally, Gen Z sees a company’s purpose as a core consideration when deciding where to work.
Thankfully, purpose comes in many forms,, which means you have many options for fostering a sense of purpose within your staff if you think this is lacking. Find out more here.
Here’s a sobering statistic for you: 33% of employees are predicted to quit their jobs this year. What this means for you, as a procurement leader, is that you will need to invest more in attracting talent and building the right culture to ensure people stay.
Learn the other seven reasons why employees might be leaving here and discover what you can do to attract and retain the very best talent
