No matter what industry you're in, no business owner is safe from experiencing their fair share of employee turnover. In that same vein, it seems that the reasons they're leaving are more or less the same across the board. But if you can do your best to skirt these issues, you'll have a real shot at retaining the people you need most.
Nine entrepreneurs from Young Entrepreneur Council (YEC) share the top reasons employees quit their jobs, and how you as a leader can intervene and fix the issue before any two weeks' notice conversations come into play.
1. They're not being challenged enough.
Individuals want to be challenged and feel self-fulfillment daily. We get to a certain point where money is no longer the objective to make us stick around in a company. Companies can prevent this by coming up with a strategic development plan for employees and ensure that they agree with the direction in which the company is heading. This will create a stable future for not only the employees, but also the business.--Anthony Pezzotti, Knowzo.com
2. They aren't learning.
A study from a few years ago concluded that the No. 1 reason for dissatisfaction among employees is that they are no longer learning. As long as employees are constantly learning new skills and feel like they are progressing in their careers, they'll generally ignore the other "bad parts" of the job.--Charlie Graham, Shop It To Me, Inc.
3. They're unable to spread their wings.
Employees want to uncover their unique talents, not get stuck in a career pigeonhole. That's why at LexION Capital, it's not uncommon to see an admin writing blogs or the finance team working on a marketing project. That's because I want their unique skills to flourish. You should encourage your team to spread their wings. The results may surprise you.--Elle Kaplan, LexION Capital
4. They lack clarity in roles and responsibilities.
You'll experience a higher level of turnover when your employees do not feel a sense of clarity in their role and their responsibilities. Prevent this by clearly articulating all roles and responsibilities within the company. Be sure each employee understands how they impact the whole, what success looks like for their position, and to whom they are accountable.--Andrew Thomas, SkyBell Video Doorbell
5. They're managed poorly.
If employees are being managed poorly and aren't being given the opportunity to grow then they will seek other opportunities. The poor management could be either extreme, that of a micro-manager or an absentee manager. The best way to prevent this is to find a balance and make sure you and your managerial staff are present, while also giving junior staff more autonomy.--Brian David Crane, Caller Smart Inc.
6. They don't see a clear path for growth.
Employees quit because they do not have a clear growth path in the company. To prevent this, it is important to outline that path for them, making sure that they understand what their growth path is and how they can achieve it. Employees should know what is expected of them and how they will be evaluated along the way.--Matthew Weinberg, Vector Media Group
7. They're unengaged.
Since people spend the majority of their waking hours at work, it's important that it is an environment that both engages and inspires. If someone has lost touch with that element, it's difficult to be engaged. A lack of engagement often leads to complacency. Make sure your employees have a personal connection to your company's purpose and know how their contributions help drive it forward.--Brittany Hodak, ZinePak
8. They lack identity.
Identity is key in life -- being in touch with my identity and feeling that my work is in alignment with my soul is important to me and to my staff. I want them to go to bed every night knowing they are making a difference. That requires intention, time and presence to support the alignment of who they are with what they do each day. If I want to keep people I have to make time to see them.--Corey Blake, Round Table Companies
9. They lack flexibility.
In today's modern work culture, I believe that a lack of flexibility in hours and work environment is among the leading reasons employees quit. An amiable work culture, luxurious perks and benefits are great, but are not as crucial as the ability to create your own work hours and work from your place of choice when possible.--Peggy Shell, Creative Alignments