Losing a top notch employee adversely affects your company in a myriad of ways. You’ll have to spend time and resources hiring their replacement; let alone all the money and effort spent on getting the original employee up to speed in the first place. In the meantime, your organization’s operational efficiency takes a hit.
Isn’t it obvious — employee retention is a vital part of your company’s ultimate success. Keeping your best workers professionally satisfied is key. With that in mind, here are three top reasons your top employees are quitting.
They Found a More Lucrative Position with a Competitor
A major reason many employees jump to a new position is better salary and benefits. You need to ensure your company’s compensation package — both in wages and benefits — is competitive for your local area. Don’t skimp on raises, and when it comes time for bonuses at year-end or during the holidays — be generous!
It may be a good idea to review your compensation package with a local staffing agency to ensure yours holds up well compared to the competition in the area.
Your Top Employees Need Added Responsibility
Great workers don’t like to feel trapped. Make sure you reward your best employees with additional responsibility as they grow into their position. Many of the best will look for a new job that offers them a better chance at advancement when feeling they are in a dead-end role with your firm.
Don’t Let Your Technology Stagnate
The best employees grow their careers by working with the latest and greatest in technology — including those in the oil and gas industry. Make sure your company stays progressive in its use of technology. Top workers need the challenges that come when learning new tools and techniques.
If you need help in developing your organization’s employee retention strategy, be sure to talk to the experts at Global Personnel. As one of the top staffing agencies in the Western Texas petroleum industry, we offer your firm the business insight to ensure your staff wants to come into work each day. Schedule a meeting with Global Personnel today!