According to Seek, the most common reason people leave a job is ‘mediocre management’. Other notable factors in the top 5 were ‘no roads ahead’ (career progression) and a ‘bad environment,’ all of which are inherently tied to your culture. (Pay just scraped into the top five in fifth position.)
We spend so much of our lives at work (around one-third of it!), so it should offer more than just a salary. If your employees are there purely because you pay more than your competition, you are not likely to be getting the most out of them, and they’re still at risk of leaving.
So, if it’s not money alone, what makes them stay?
We all want to feel a sense of belonging, appreciation and personal growth, and the best cultures provide this in spades. A culture that celebrates accomplishments, fosters transparency, encourages innovation and champions growth isn’t just attractive; it’s adhesive. It makes the thought of leaving not just difficult but, for many, inconceivable.
Why are these connections important?
The need to belong (to feel seen, valued and connected) is fundamental. Humans like to feel part of something in every area of our lives, and a sense of belonging at work drives commitment to your goals and vision.
And when it comes to appreciation, regular acknowledgement cultivates loyalty, showing our team members that their contributions are pivotal to collective success. (Again, a sense of belonging and a shared goal!)
Personal growth is an obvious one – it signals to your team that you’re invested for the long haul, which, in turn, increases their chance of feeling the same. It also enhances engagement, a critical piece of the puzzle.
What happens when you don’t foster these connections?
People leave – or worse, they stay. But they are no longer loyal or committed, impacting your daily productivity, team morale, ability to attract top talent and, ultimately, your bottom line.
No easy fix – it takes deliberate focus
If you’re seeing high turnover, there’s a good chance your culture is playing a part. Unfortunately, it isn’t something you can turn around in a short period of time. It takes a deliberate focus and unwavering commitment to building your desired culture. However, some immediate steps you can consider are:
- Open communication channels with your current team that actively solicit feedback.
- Implement exit surveys that allow for open, honest feedback. (While you cannot guarantee that you’ll get it, people who have left are likelier to give you a reality check.)
- Seek external advice. It can take a specialist skillset and an impartial viewpoint to turn things around, and the right expertise can help you with a roadmap that won’t fix things immediately but will put you on a path to achieving the culture you want to see.
Investing in your culture is crucial to attracting and retaining top talent. It’s an ongoing commitment, not a set-and-forget activity, but it’s one that should ultimately pay for itself.
Looking for your next hire? Get in touch with the team at National Workforce on 1300 WORKING or letstalk@nationalworkforce.com.au.
