Employee turnover is a reality that all businesses must face at some point in their growth. According to the Job Openings and Labor Turnover Survey, every month in the U.S., 3 to 4.5 million employees quit their jobs. This is costly for businesses since hiring and training a replacement can run up to 213% of an employee’s salary according to the U.S. Bureau of Labor Statistics.
Being aware of the warning signs that may indicate an employee considering leaving your organization can help prevent high turnover rates. Keep an eye out for any changes in productivity and attitude towards work, as well as conversations about outside opportunities or changes in attendance patterns. By actively monitoring these factors, you can intervene early and do what you can to address any issues and retain valuable team members.
3 Most Common Warning Signs of Employee Turnover
One of the most obvious signs of possible employee turnover is a decrease in productivity. When an employee becomes less engaged in their work and begins to miss deadlines or slack off on tasks, these can be red flags that they’re losing motivation in the workplace.
If you see a decrease in employee productivity—whether in quantity or quality of work—this could be an indication that the employee may be disengaged. The disengagement could be caused by a lack of appreciation from colleagues or superiors, feeling undervalued within the organization, or even non-related work responsibilities. Statistics from the New York Department of Labor show that 69% of employees who voluntarily leave their jobs cite “lack of appreciation” as the primary reason for leaving, while 36% state that they had no career development opportunities at their current job.
Implementing career growth initiatives such as mentorship programs and/or ensuring managers conduct “one-on-ones” with each employee are critical to employee retention. By making small investments in your existing staff members through career development opportunities or detailed feedback, you can show your employees that their efforts are appreciated and valued within your organization. Additionally, implementing recognition awards and incentive programs can also encourage employees to stay longer in their roles.
The sooner you act on any changes in productivity levels, the more likely you are to keep valuable members of your team engaged and satisfied with their jobs. Not only will this have a positive effect on team morale, but it also helps prevent the financial losses associated with replacing staff.
Another warning sign includes changes in the employee’s attitude towards the company and the job itself. If an employee is increasingly negative about their work or complains more regularly about problems, then it could indicate that they are no longer happy and motivated within the organization. Changes in attitude towards work, like decreases in enthusiasm or increased irritation with colleagues, can often suggest that an employee may be seeking new opportunities elsewhere.
It’s important for employers to pay attention to any changes in attitude and intervene early. Even something as simple as expressing appreciation and gratitude for employees’ efforts can make all the difference between them staying with your organization or looking for other employment opportunities. A great way to improve employees’ feelings towards the company is by implementing recognition awards and incentive programs. Here at GoToro, we give out an award called “Top Toro” where we recognize the employee of the quarter who went above and beyond to exhibit our core values. That is a great way to encourage employees to stay longer in their roles and make them feel valued within your organization.
Finally, keep an eye out for changes in employees’ behavior. While it’s not always easy to predict when an employee may choose to leave, tracking behavioral changes and responding quickly can help mitigate any potential harms that may result from the departure of a team member.
If a reliable and punctual worker suddenly starts taking more days off than usual or showing up late more frequently, this could signal that they are not as invested in their current job anymore. It’s also helpful to monitor how often an employee talks about opportunities outside of your business. If they consistently mention potential jobs they’re interested in, then this could signal that they are actively searching for other positions.
According to a study conducted by the Society for Human Resource Management (SHRM), nearly 60% of those surveyed had no intention of leaving their job when they first started but ended up departing due to work/life balance issues, lack of career growth opportunities, an unfavorable work environment or culture, or simply feeling unappreciated. When employees exhibit warning signs such as increased absence, low morale, poor performance, or sudden changes in attitude, these are all indicators that something is wrong and could potentially lead to employee turnover.
It’s critical for a company to be able to identify these warning signs in order to take proactive steps to retain its existing employees. This not only helps reduce costs associated with replacing employees but also creates a positive workplace culture where everyone feels valued and fulfilled. Taking action before an employee decides to move on will save your business time, energy, and money.
Why It’s Important to Spot These Warning Signs
Spotting the common warning signs that a valued employee may have one foot out the door is crucial if you want to try to prevent them from giving notice. If you can’t anticipate when an employee might switch jobs, then there’s nothing you can do to work with them to see if you can avoid the turnover.
Once you notice signs that you may have an employee retention problem, working with a professional job advertising company can be a good step toward keeping existing employees and finding new ones that will stick around.
How GoToro Can Help
Over the past decade, GoToro has put endless time and effort into understanding every aspect of recruitment and retention. We work day in and day out to stay on top of all the latest trends, techniques, and strategies. By doing so, we have established a foothold in high-volume and high-turnover job markets. Our tools and processes have enabled companies to adapt to candidate shortages in any vertical.
Learn how GoToro customers benefit from exceptional customer service, unmatched campaign responsiveness, and an evolving recruitment strategy to grow their business. Contact us today for help recruiting and retaining candidates.