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Running a business requires more than just keeping the machine oiled and looking for new clients. It requires dedicated, loyal, and qualified employees. Without employees that can rise to the challenge, you have no business. As an owner, CEO, or manager, you are responsible for the welfare of employees where it directly affects your business.
Business welfare doesn’t mean physical and mental health. However, there is some degree of responsibility there, but aspects of the workforce related to their job. Should employees not be adequately cultivated, you will eventually run into staffing issues resulting in low employee retention. Low employee retention costs a significant amount of money via recruitment and training.
Some crucial points of concern that can cause low employee retention are:
It would be best if you went out of your way to invest and reinvest in quality employees through education and training. As the world’s attitudes and responsibilities shift, your company should reflect these for purposes of relevancy. The importance of leadership and sound management is vital as the core infrastructure of a business.
A leading cause of employees leaving their job is because they feel undervalued and unappreciated. A United States survey conducted by Gallup found that 85% of workers were unsatisfied with their job. There are many reasons cited for work-related unhappiness, including overwork, ethics, and not getting along with colleagues.
A primary reason cited is the lack of opportunities. It would help if you recognized the importance of investing in employees as it helps retain them in the long term. Training and education is an excellent method of employee retention. For example, admin employees require training in the latest IT advancements. Additionally, it would be best if you placed high-risk work employees on rigger ticket programs. Further, managers need to learn essential skills to make them more effective leaders.
The last two years have seen some significant geopolitical changes. As a result, movements such as Black Lives Matter, #MeToo, and diversity awareness, including minority, gay, transgender, and other sexuality-related issues, are more prominent than ever. As such, your company should reflect shifting world attitudes and shed outdated ones.
Your personal beliefs might not align with common world beliefs, and you have the right to those beliefs. However, discrimination for skin color, sexuality, or religion is not acceptable in the workplace. Therefore, formally and publicly recognizing essential issues like this, you could also introduce workplace training that informs and encourages inclusion, acceptance, and respect.
Being an effective leader is a vital aspect of running a business. This quality should extend to everyone in any position of authority across the entire company – supervisors, managers, and executive staff alike. Unfortunately, lousy leadership is felt down the ladder and affects all operational aspects of the business negatively.
Issues such as lack of vision, a God complex, and inability to meet goals inevitably lead to complete failure. As a result, employees may choose to leave because they sense incompetence. In the worst case, your employees might have to face layoffs because poor leadership has resulted in direct negative revenue and unsustainable company losses.
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