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Stop the Bleeding of STAFF EXODUS (Part 2)

How do we stop the bleeding of staff attrition in an employee driven market?

  1. Career Development & Training - 21% leave due to lack of growth and career prospects. Investing in continuous development practices has been proven to increase retention.

  2. Work-Life Balance - An often viewed cliche, but 13% of employees would have stayed if they had more favorable work schedules, the chance for remote working and shorter commuting times.

  3. Managerial Behavior - People leave their managers, not their jobs (11% of them). Time to drive leadership development and fix the root causes of managerial derailers to increase employee engagement and satisfaction levels.

  4. Well-Being - Adverse life changing events in health, relationships and finances account for 9% of staff turnover. Companies who offer support, counseling and just plain empathy to see employees through difficult times, can be assured of their future loyalty and commitment.

  5. Compensation & Benefits - A 401k, additional dental benefits, and of course remuneration that is on par with market standards show employees that their efforts are being recognized and appreciated, which means you may retain 9% of your workers that were heading for the resignation door.

As HR Professionals and Talent Managers we should become more observant and responsive regarding the root causes of turnover and address them pro-actively, long before that resignation letter lands in your email inbox. Let's stop the bleeding and let the healing begin...

Additional data on this can be referenced here.

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