why top performers leave

Why Your Top Performers Leave

According to a study conducted by Jobvite, the top reason why employees leave for another job is better compensation (61%). (That’s why one of the most important things HR can do is work with Finance to establish pay ranges.) However, it’s a common mistake to think compensation is the only, or the primary, driver of employee satisfaction. It’s not. To reduce regretted turnover, HR leaders need to think more holistically about the factors that lead to top performers looking elsewhere.

1. The job is not what the employee expected.

This common problem can be mitigated by conducting realistic job interviews with every candidate. Describe the role in detail, warts and all, and ensure the candidate meets with his or her potential co-workers before being hired.

2. The role is just a bad fit.

This is often the result of hiring in a hurry (remember that lack of time we talked about?). Ultimately, taking the time to conduct pre-assessment screenings, engaging multiple interviewers and asking behavior-based questions results in better, longer-term hires. Remember: a business can spend an average of $20,000 every time it has to replace an employee.

3. There’s no feedback or coaching.

Sixty-two percent of U.S. workers want more input on their performance, including 90 percent of Millennials who expect daily feedback. Executives and HR professionals need to ensure managers are pulling the right levers and partnering with employees to coach performance.

4. There’s a lack of career growth or learning.

This scenario is particularly an issue among GenX workers – who tend to stay in roles that offer more opportunities to learn – and Millennials, who understand the need to stay marketable by constantly developing new skills. Your employees want to learn, enjoy their work and see a path for career advancement, and they start to lose interest when a job is no longer challenging. To keep your top performers, you must know their strengths, ask about their goals, anticipate their restlessness and keep them on a learning curve.

5. Employees don't feel valued or recognized for achievements.

Saying “thank you” is important! Employees thrive when managers practice a challenge-achieve-recognize cycle. Good leaders also remember to ask their teams for input, then actually take action on that feedback.

6. Employees don’t trust the senior leadership team.

This is an issue that has been on the rise in recent years, and with good reason. Senior leaders can appear to be selfish and isolated and to devalue and burn out their employees. The alternative is for leaders to nurture employees and operate from a mind-set of retention, not replacement. The best leaders show that they care about the welfare of the company and the workers more than their own self-interest.

What’s holding you back?

If you feel like there’s just not enough hours in the day to focus on retaining your star employees, then you should re-evaluate your HR technology and find time to lead.

More to Discover

2019 HR & Compliance Web Summit: Executive Summary

2019 HR & Compliance Web Summit: Executive Summary

With 20,000+ registrations, this was Paycor’s biggest and best web summit yet!Industry experts like Jennifer McClure offered actionable insights and advice on all things HR, from self-care for the HR pro to in-the-news compliance issues. If you missed the live webinars you can watch them on our on-demand webinar page.In the meantime, here’s a quick overview of each session. 5 Steps to Become a Strategic HR Leader | Speaker: Lori Kleiman In today’s business environment only 20% of HR professionals interact with the executive suite. Lori Kleiman says it’s time to stop waiting for your gold embroidered invitation and finally take your seat on the leadership team. Ready to become a strategic HR leader? Follow this 5 step plan: Engage...

Banker

Paycor + Regions Bank: A Homerun Partnership for the Birmingham Barons

Paycor + Regions Bank: A Homerun Partnership for the Birmingham Barons

Providing fans with an unforgettable experience is paramount for the Birmingham Barons. From sales and ticket takers to concessions and ballpark operations the entire Barons staff plays a vital role in making home games at Regions Field a can’t miss event for the community. And as preparation starts for opening day, hiring takes off. With nearly 700 seasonal employees hired each year, the Barons rely on Paycor to help automate manual HR processes like payroll, reporting and timekeeping.Check out this video to learn how Paycor has increased efficiency and streamlined HR operations for the Barons.

Broker

How to Help Your Clients Prove Their Value to the C-Suite

How to Help Your Clients Prove Their Value to the C-Suite

HR professionals are sitting on a goldmine of data, but they’re constantly fighting an uphill battle when it comes to proving their value to the C-suite. For starters, they aren’t data scientists and often lack the support, resources and budget needed to make sense of the data, let alone measure its financial impact.In 2015, 20% of business leaders trusted HR to use data to anticipate and help fill talent needs. By 2018, that number dropped to only 11%. The problem is twofold: some HR teams (especially if you are a solo practitioner) still spend too much time on transactional HR functions that should be automated. That doesn’t leave a lot of time for much else. Secondly, HR often doesn’t have the tools they need to access or interpret...

Webinar: Meet Paycor Analytics - The Next Generation People Analytics Platform

Webinar: Meet Paycor Analytics - The Next Generation People Analytics Platform

It’s here! Paycor Analytics, the next generation people analytics platform that will transform the way you manage your workforce, is now available. Paycor Analytics provides user-friendly insights to help you answer the right questions about your workforce by transforming complex data into trends, predictions and powerful benchmarking so you can make business critical decisions every day.Give us 15 minutes of your time and we’ll show how Paycor Analytics will change the way you answer important questions about your workforce.