Did you come across the stats that: the cost to replace a highly talented and trained employee can exceed 200% of their salaries?
Your investment, training programs, money, time all goes into a pit when an employee leaves your organization. Employees are the driving force behind the success of any organization and when they leave, they take away the most important asset of your company with them, that is they themselves.
Therefore, you should retain your highly trained employees for better development of your organization. But, it is seen that 50% of all organizations face difficulty in retaining their most hardworking and valued employees.
Many research done globally on the employees shows many factors why an employee looks for a change or decides to leave an organization. Such as lack of performance appraisals, no job satisfaction, increased employee conflicts in the organization, no recognition of their work.
According to Get Bridge: 86% of millennials would leave their current position if career development and training were not offered.
Every employee considers the training an employer provides, which helps them to develop existing and new skills. They also look for some appreciation of the work they do for your company. Even the environment of the organization has an impact on employees. They find it hard to trust their team members because they haven’t built such an understanding to work together. And such factors can fuel the decision of an employee to leave an organization.
HR leaders bear a lot of pain and spend lots of time to recruit the right candidates. But, they have to understand the key to better company turnover is satisfied employees.
According to OfficeVibe, 46% of HR personnel say retention is their greatest concern.
And they think that in handling such issues Knowledge Management Platforms play an important role. As at recent times, such platforms offer different tools and features which helps in employee engagement and team-building among employees. Vneda.com is one such reliable knowledge sharing and management platform, which is helping corporates in improving employee communications.
Each existing employee in an organization understands the company culture and tries to work effectively and makes a contribution to your company. To see the continuity in the profit they bring to your table, you must sincerely keep putting dedicated efforts to encourage and motivate them. This will keep them happy and satisfied with your organization and won’t look for a change.