What causes a high employee turnover?

Employment rates are steadily increasing, which means businesses are growing!

Thus, business owners are seeking talented employees to fit into their teams.

Although the growth is positive, it is still very important for business owners to keep their employees "happy", and to avoid the costs & dangers of having a high employee turnover.

An employee turnover is a percent of employees that leave a firm each year.

In order for small business owners to retain their employees for the long-term, they need to be cognizant of the reasons that cause their good employees to quit in the short-term.

• Mismanagement of resources

How well do you manage, and measure your greatest resources?

Once an employee is hired, it is up to the firm to identify that individual's talents, to assign him / her an appropriate work-load, and to provide good goals for that individual to work toward.

• Improper talent acquisition

The bridging of the talent gap may create significant complexities, especially for a small business owner.

Large businesses have greater incentives to attract top-talent.

However, some people do prefer to work for small businesses if the monetary compensation, and other benefits will meet / exceed their needs.

• Bad hiring decisions

The most common reasons people give for quitting their jobs are :

- boredom

- a weak / toxic relationship with their supervisor(s)

- it is a wrong "cultural" fit for them

- the job's formal description on the paper and the actual job doesn't match  

- lack of opportunities for professional development & career growth