Losing great employees is painful for your company, and it might result in bottlenecks, missed sales, or reduced morale. Worse yet, the labor market is tighter than in 70 years, making finding a replacement challenging. You need to find out why an employee leaves and then use that knowledge to keep your other employees around.
Do You Know Why They Are Leaving?
You can’t adjust your stone fabrication business to address employee departures if you don’t know why they are departing in the first place. While losing a valued team member is tragic, it must be an opportunity to learn.
Finding out the reasoning behind a departure opens the door to knowledge of issues that might impact employee morale or if you’re competitive in employee pay or benefits. Be prepared for hard truths you must confront and start the path to change.
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Why Do Employees Leave?
Employees leave their jobs for various reasons, and knowing which impacts your employees is the key to preventing further losses.
The primary reasons employees might be leaving you are:
Low Pay
In 2021, a Pew Research poll found that 63% of employees leave their jobs due to low pay. Employees who don’t feel adequately compensated will be less motivated and ready to leave whenever they find a higher wage. In such a tight labor market, an employee who feels underpaid will easily find someone that will pay more.
Lack of Advancement Opportunities
Plenty of research has found that employees often leave due to a lack of opportunities to advance. They will seek growth elsewhere if they don’t see a chance to grow.
Too Little Flexibility
In the stone fabrication business, you work on tight deadlines, but employees often have an emergency or family need that requires them to be present. Finding ways to increase flexibility if work might be completed at different hours or by others is crucial.
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Poor or Lack of Benefits
Benefits aren’t optional but are expected by employees when looking for a job. Insurance, retirement, and paid time off are so important that people often take lower pay when searching for work to know they have these valuable benefits.
Burnout
Burnout has become a critical issue for employers, with research showing massive amounts of employees feeling burnout after coming through the pandemic. Employee mental health programs have become essential to preventing burnout.
Feeling Disrespected
That Pew study found that 57% of Americans listed that they felt disrespected as a reason for leaving their jobs.
Poor Company Culture
Is your company promoting a culture of respect, teamwork, and values? Open communication, strong leadership, respect for work-life balance, and career development will keep employees. Company culture always needs to be a daily focus for leaders.
How Do I Find Out Why They Are Leaving?
It is pretty easy to find out why employees are leaving your company, and no, it doesn’t mean sitting them down for an exit interview. An exit interview will give you incorrect information as it is hard to tell the boss, “This is why I am leaving.”
A simple Google Docs file that you email the employee to fill out is non-threatening, and they will feel empowered if you tell them a serious effort will be made to resolve any issues they point out. Find out if any of the problems listed here are contributing factors.
Let them know their opinion is valuable and beneficial to their former co-workers.
Who knows? Feeling heard might convince them to stay and allow you to correct an issue you didn’t know existed.
Keeping Employees Matters More than Ever Before
Finding and retaining talented employees in our industry is essential to success and is very hard when the labor market is so tight. A simple Google Doc could make all of the difference for your company.
Grand Onyx places a big focus on employee retention for the clients we work with. We increase earnings for stone fabricators while ensuring your talent stays onboard. Contact us today to find out how your company can retain its talent.
