Are you unintentionally driving your employees to your competitors?
People moving between jobs occurs a lot more than you think. Long gone are the days where you would find a ‘job for life’. In more recent times, you would be considered extremely lucky to find and stay in a job for the rest of your working life. Studies show that the average working person goes through 10 – 15 job changes within their lifetime, staying on average just 4.2 years in a single job.
So why is this? Why are people moving between jobs at a much higher rate than previously seen? We conclude 5 potential reasons why employees may choose to move to a competitor:
1. The Job
If you’re passionate about what you do, your job shouldn’t be a chore. There are plenty of reasons why an employee is not satisfied with their current job role. Daily tasks are likely to swap and change to match the objectives of a team or that of a company. This could be a great thing, it provides an employee with a variety of tasks, ensuring a high level of motivation and decreasing that feeling of ‘Groundhog day’.
However, employers and managers alike should ask themselves if their teams are well equipped to move with these changes.
- Are they given enough time to conduct their duties?
- Do they have the proper training to conduct their duties to a high standard?
- Are there options for progression within a role or options for learning and development?
If an employee is feeling overstretched or has a lack of training, it could cause a decline of confidence in their level of work and potentially a job change!
2. The Pay
A higher wage is a key motivator to finding a new job. We all want to be paid as much as possible for the job we do, its human nature. Therefore it’s extremely important for employees AND employers to know exactly how much the job role is worth. 7 in 10 employees in the UK feel like they’re underpaid. Understanding realistic salary trends is very important in employee retention and hiring.
3. The Location
Location is key, for more than one reason. The location of a business is usually decided based on strategic business operations. But how often are the needs of employees considered when making this decision? A good location is often a critical factor in recruiting the right people into your business, particularly if they have been offered several jobs and need to evaluate the pros and cons of each. You should ask yourself some, perhaps, unconventional questions; how many modes of transport can be used to commute? What is the local community like? If employees have an hour for lunch, is there anything for them to do? If not, should you be providing activities? A snooker table? Lunchtime Yoga? The possibilities are endless.
4. The Boss
Having a great boss can make your job a dream, or alternatively make it a complete nightmare. A strong relationship between management and employees is a necessity! In a recent survey, 91% of employees think their leaders lack communication skills. Anonymous internal surveys measuring employee satisfaction with leadership is a fantastic way to combat this problem. We all have that one horror story about a past boss; don’t let that story be about you or your company!
5. The Company
It’s very important to make sure your business is appealing to current and potential employees. If a competitor is advertising a similar role at similar pay but provides a better benefits package, working environment and flexible hours, guess where your current and future employees will want to work? The relationship between an employee and a business is a two-way street.
As a manager/director / company owner, you should ask yourself, do employees feel valued? Why would people want to work here? Or better yet, ask your employees!
If you are a candidate thinking about a career change but have no idea how to go about it, check out a previous blog on ‘The best times to quit’ and take 5 minutes to make sure your CV is up to date and the best it can be by reading our simple guide HERE.
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