Is long-term employee retention a losing battle? - page 6.

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Quote from: Davidvictorson on November 03, 2022, 03:17:56 PM

Data do not lie. If these companies do not want to keep losing this battle they have to start caring about their employees. They have to treat their employees great. In this day and age companies need to start to try to be human and actually care about what their employees care about or at least putting it on the same pedestal with the degree at which the company cares about making profit. We need new generational leaders who are high on emotional intelligence.

What do you think? Are companies losing the battle for long term employee retention?

Personally, I think the reason for the high-turnover rate of some companies is due to the management not adapting to the "new normal" which COVID introduced. When the pandemic hit, this was a realization to most employees that they could actually function and work better while not physically attending on their desk and office jobs. Some companies, despite this realization, still chose to prefer the conventional way of operating their jobs which ultimately led to people quitting.

But if there is one thing that I have noticed with this generation, it is that most GenZ and millenials somehow job hop from one company to another, looking for the place which offers the highest profit. While this kind of strategy works most of the time, this damages their reputation in the long-term.

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Quote from: davis196 on November 07, 2022, 08:00:51 AM

Quote

Data do not lie. If these companies do not want to keep losing this battle they have to start caring about their employees. They have to treat their employees great. In this day and age companies need to start to try to be human and actually care about what their employees care about or at least putting it on the same pedestal with the degree at which the company cares about making profit. We need new generational leaders who are high on emotional intelligence.

This is a double edged sword. What if the companies actually do take care of their employees, but the employees aren't loyal and they quit when they have a chance? Investing time and resources into the skills of your employees and seeing them leaving your company and getting hired by the competition must be the living nightmare for every employer.
We live in the "freelance age", where it's easier to simply outsource the task to some guy from the Philippines, who will do it for a 10 times lower price. Maybe this is another reason why the western companies don't cherish their employees that much. Nowadays, everyone is replaceable and everything can be outsourced.

Employees did not started this trend, it was the companies which did so, long time ago people still expected to work most of their life at a single company, but then companies began treating their employees as replaceable and firing them for no reason at all, at the beginning employees were confused about this new reality but they adapted themselves quickly to it, so now they do not care at all about the company in which they are working and they will only do what it is necessary to receive their paycheck, companies do not like this but it is their fault as this is the environment they wanted to create.

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Quote

Data do not lie. If these companies do not want to keep losing this battle they have to start caring about their employees. They have to treat their employees great. In this day and age companies need to start to try to be human and actually care about what their employees care about or at least putting it on the same pedestal with the degree at which the company cares about making profit. We need new generational leaders who are high on emotional intelligence.

This is a double edged sword. What if the companies actually do take care of their employees, but the employees aren't loyal and they quit when they have a chance? Investing time and resources into the skills of your employees and seeing them leaving your company and getting hired by the competition must be the living nightmare for every employer.
We live in the "freelance age", where it's easier to simply outsource the task to some guy from the Philippines, who will do it for a 10 times lower price. Maybe this is another reason why the western companies don't cherish their employees that much. Nowadays, everyone is replaceable and everything can be outsourced.

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Quote from: Lubang Bawah on November 07, 2022, 12:45:37 AM

If the company is too often changing employees, the company's long -term goals will be difficult to achieve, and of course it is a tiring thing if the company is only filled with new employees, the company must dare to invest by maintaining employees who have potential because if the loss of the employee then the company's long -term plan can fail .

No company will change their employee if they see them working so well and they can deliver excellent result to their jobs, for sure a company will treat them as a gem and the only one who will get lay off are those people which have bad record or silent type person which they are unknown to their top officials. Companies will not erase all the employees since this can affect to their overall performance and maybe their productivity will became more lower.

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I'm totally surprised by the replies here, sometimes I wonder, is anyone actually working for a company, or is everyone here a freelancer?

Nobody in three pages of replies thought about a thing:
There are companies who can't keep their employees because the employees themselves don't want that from the start, from the moment they signed the hiring contract they knew, this is a job for 1 2 maybe 5 years!

If you're a student and you get a job at a call center, a hyper store, gaming testing, or a barista, this is what you're going to do all your life, you're going to serve coffee all your life at the same place for 50 years? Are you going to play Fifa 2100 for EA till you are 65 to discover bugs?
There are millions of jobs that have no retention capabilities at all, nobody wants to work there their whole life, everyone wants to get better paid, less stress, and less physical work and there is no way in hell a pretzel stand in some mall will be able to pay you what a desk job at Exor would.

Again, I'm shocked that nobody realized this, all of you you still think you could have worked for the first company that hired you and you think that company had the profit margin to grant you the wage you desired?

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For example, if you were a leader in a company what would you see?

Employee choice is an important factor in the long-term development of companies and individuals. So you have to pay attention to whether the person you choose is good or bad. If you have a special situation right now, you should try to think hard before making a decision. Remember, time is gold and only you can control your own future and that of your company.

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If the company is too often changing employees, the company's long -term goals will be difficult to achieve, and of course it is a tiring thing if the company is only filled with new employees, the company must dare to invest by maintaining employees who have potential because if the loss of the employee then the company's long -term plan can fail .

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Quote from: Kakmakr on November 06, 2022, 06:08:37 AM

The Generation Z kids do not believe in the same things that the Generation X believed in... namely ==> Staying with one company until they pension.... they are "Zoomers" and they like to Job hop from one job to the next.

Companies should actually welcome this trend, because it brings new ideas to the company and their labor cost are also kept lower in the long run. (Long-term employees normally have inflated salaries for the same job description) Tongue

Times are changing and so with our generation of young adults.
They may have different preferences in life and so with their work desires.
Companies should think that this is not unusual but because of evolving taste of every generation,
owed to evolving environment and advancement of technology. Their options seems to be varied these days.
Most are not keeping up with the tradition of retiring from their job after long years of working.
This battle is not new anyway, it just revitalized throughout the years because of our changing environment.

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Quote from: Davidvictorson on November 03, 2022, 03:17:56 PM

Reading this article, I couldn't help but wonder about a lot of things that have gone wrong and is going wrong in companies. Some of these companies are know that employees leaving are a problem and are making efforts to fix it while other who know, ,amy have chosen to ignore it.
Below are some important points highlighted in the article.

According to the report, more than 6.5 million people (20% of the U.K. workforce) are expected to quit their job in the next 12 months, according to estimates from the Charted Institute of Personnel and Development (CIPD), which published the data in June after surveying more than 6,000 workers. That’s up from 2021, when 16% of the U.K. workforce said they plan to quit within a year, according to the CIPD. Meanwhile, in March Microsoft’s global Work Trend Index found that 52% of Gen Zers and Millennials — the two generations that represent the vast majority of the workforce — were likely to consider changing jobs within the following year.

Data do not lie. If these companies do not want to keep losing this battle they have to start caring about their employees. They have to treat their employees great. In this day and age companies need to start to try to be human and actually care about what their employees care about or at least putting it on the same pedestal with the degree at which the company cares about making profit. We need new generational leaders who are high on emotional intelligence.

What do you think? Are companies losing the battle for long term employee retention?

It is a double edged sword in many situations, yes you want to retain the very best, innovative and adaptable employees in your company but many employees can get very complacent in their jobs leading to lower productivity and eventual obsolescence of their company. Employees can also naturally expect pay rises over time, even though they are unwilling to take pay cuts during much tougher times for the company and older employees will generally attract much higher costs while potentially coasting on previous goodwill. Few companies in most industries can be successful with very high turnover, because often a lot of experience and skill is lost over time which can be very beneficial.

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Quote from: Renampun on November 06, 2022, 04:38:46 AM

I don't know whether the data is accurate or not, if the employee stops working, how do they meet their daily needs, does the state pay for their living expenses or the state pays them a salary?

There is nothing wrong with the data as this is just a random survey and there is no guarantee that it will happen. This is what I'm thinking, what will they do for a living if they quit? Will they do business? Not everyone can afford to do that. So I don't think this will happen.

Quote from: Renampun on November 06, 2022, 04:38:46 AM

but in this case, different regions have different problems too, in my country because there are many job applicants, the majority of companies give tough qualifications to the applicant.

but if the company does not give their employees comfort then the company will find it difficult to retain their employees for the long term. Many experienced employees will definitely try to find job vacancies in other companies.

This is happening in my area too, unemployment is very high and people are rushing to find work, almost they are willing to do any job that is not their specialty as long as it can earn money and help them make ends meet. For highly qualified people, they will have the right to demand or choose, but for workers, they have almost no right to choose and workers make up the majority of us.

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The Generation Z kids do not believe in the same things that the Generation X believed in... namely ==> Staying with one company until they pension.... they are "Zoomers" and they like to Job hop from one job to the next.

Companies should actually welcome this trend, because it brings new ideas to the company and their labor cost are also kept lower in the long run. (Long-term employees normally have inflated salaries for the same job description) Tongue

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Quote from: Davidvictorson on November 03, 2022, 03:17:56 PM

What do you think? Are companies losing the battle for long term employee retention?

The simple answer is, no, it's not a losing battle. A company can retain any number of employees and everyone's needs in important ways. Reducing turnover is one goal to achieve, but a company can also enhance employee retention by engaging the current workforce in more meaningful and effective ways while also working to decrease the number of their hires who leave within just six months of their first day.

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Quote from: Davidvictorson on November 03, 2022, 03:17:56 PM

What do you think? Are companies losing the battle for long term employee retention?

To me it seems so that companies are struggling to keep employee for a longer period of time in today's world. Maybe it's a new generations thing and part of the mindset of employees now to always look for a better deal, for a new promotions or higher salary. Like what we are doing with shopping these days, we are not sticking to one stores we like and we have been there in the past, rather we compare prices all across countries to find the one store that offers a little bit better deal. When I think of my grand father or even father, the both worked only for two different companies in their whole life. What was a big difference for them compared to me now is that the companies they worked for had a special retirement plan, you need to work a minimum of 30 years for them and then you became eligible for a private retirement payout. The money you get on top of your government retirement money is large part of the salary and it would make no sense to switch companies after working their 20 years. Today it is very different, special retirement packages are independent from the company and an employee can take it with him when he switches the company. There is no real incentive anymore to only stick to one or two companies your whole life.

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Examining this condition from another angle will make you understand that some employees naturally do not want to work for so long for their employers. Some have business skills that they need some money to save up and open their business, some also wants to own their own company maybe they came for some experiences.

So anyone that has their different ambition to pursue will only work with a company for a short period of time before they find their ways. Any determined person will leave a company no matter how good the company treats the person. They might not decide to trade their future with monthly payments.

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Quote from: Zaguru12 on November 04, 2022, 01:51:40 AM

The main reason why employees leave companies can be on lack of incentives or rather lack of growth. Some of these companies are too rigid to the extent that its workers have less time to spend with family or even time for themselves. Some work six days in a week at at least 10hours daily. Another thing that prompts some workers to seek greener pasture else might be because they are not comfortable with shifts allocated to them, lack of growth within the company like raising in ranks easily like government owned work places. It could also be due to fear, some companies scare there workers with sack and they feel threatened so when better jobs opportunities come they turn to jump on it. Some of this companies also don't have retirement plans like pensions and workers tend to look for pensionable jobs since its hard to save for some during their active working days. Irregular transfers of employees by employers can effect the switching of jobs or people seeking to be independent.

A lot depends on the upbringing that parents were able to lay in their children, how hardworking and purposeful they are. Parents who devoted very little time to their children, because they were constantly at work, literally let their children make their own choices. And in this case, it is clear that they will choose the easiest way. Work is important for everyone, idleness gives a lot of time to do stupid things.

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Employee retention is an uphill battle especially if employers are not willing to up their game in the job market. Common reasons why an employee leaves the company is because of being underpaid, or thinks that they are underpaid because they find out that X company gives their employees a few percent more than what they are receiving on current company, while also getting the most benefits and the most leeway for the employee. Another reason is the limited 'growth' an employee sees on their current employer. Most employees dream of being promoted and being paid more, but that usually isn't the case hence they will look for other employers that will give them this opportunity and snatch it at a moment's notice.

On the employer's side of things, it will be hard since you can't simply just up your employees' wages if your revenue remains the same. There's a lot of variables involved in the employers' side that employees would simply not care at all, because all they want is get paid for the work they exerted (and that's okay). It's a tough world out there, and I know how hard it is for both parties given this time of economic turmoil all around the world.

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Quote from: Davidvictorson on November 03, 2022, 03:17:56 PM

...
What do you think? Are companies losing the battle for long term employee retention?

I don't know whether the data is accurate or not, if the employee stops working, how do they meet their daily needs, does the state pay for their living expenses or the state pays them a salary?
but in this case, different regions have different problems too, in my country because there are many job applicants, the majority of companies give tough qualifications to the applicant.

but if the company does not give their employees comfort then the company will find it difficult to retain their employees for the long term. Many experienced employees will definitely try to find job vacancies in other companies.

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Quote from: Davidvictorson on November 03, 2022, 03:17:56 PM

Reading this article, I couldn't help but wonder about a lot of things that have gone wrong and is going wrong in companies. Some of these companies are know that employees leaving are a problem and are making efforts to fix it while other who know, ,amy have chosen to ignore it.
Below are some important points highlighted in the article.

According to the report, more than 6.5 million people (20% of the U.K. workforce) are expected to quit their job in the next 12 months, according to estimates from the Charted Institute of Personnel and Development (CIPD), which published the data in June after surveying more than 6,000 workers. That’s up from 2021, when 16% of the U.K. workforce said they plan to quit within a year, according to the CIPD. Meanwhile, in March Microsoft’s global Work Trend Index found that 52% of Gen Zers and Millennials — the two generations that represent the vast majority of the workforce — were likely to consider changing jobs within the following year.

Data do not lie. If these companies do not want to keep losing this battle they have to start caring about their employees. They have to treat their employees great. In this day and age companies need to start to try to be human and actually care about what their employees care about or at least putting it on the same pedestal with the degree at which the company cares about making profit. We need new generational leaders who are high on emotional intelligence.

What do you think? Are companies losing the battle for long term employee retention?

Seriously? No they are just joking and everyone knows how hard it is getting to find a job so even they are not satisfied with their job they are not going to quit unless they find a better paying job that is the reality.

Let's assume if they are really going to quit the job then companies have options to hire freshers with less pay and can impose more workload and the evolution is going towards automation so in future workforce needed will be less so employees are in more danger than the companies in this equation.

Most of the companies are treating their employees good, but they can't pay someone for nothing.

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Quote from: Jemzx00 on November 05, 2022, 09:15:55 AM

Quote from: Marvell1 on November 05, 2022, 08:34:14 AM

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I guess this varies from country to country as some countries had already experienced a ton of inflation for the past years, yet the minimum wage has not been changed ever since to cope up with all the price increases that happened. It is not always the government's fault however there are some where they are such as on my country. If in any case, they won't be able to change or increase the wages of workers, then they should focus on controlling and minimizing the effect of inflation on the country.

Increasing the minimum wage may not always be the best choice but at least make it proportional to the workload given to each and every worker. Some companies set minimum wage on their job, but it isn't proportional to the workload assigned to it.

It is not proportional in your eyes but it is proportional to the business owner. You have to understand that in order to keep your business afloat, a business needs to consider a thousand different factors, not just worrying about employee pay.

If an employee is in trouble, the company can help them, but when the company is in trouble, on the verge of bankruptcy, will any employee accept that he will work to support the company, such as For example, he will work for 1 to 2 months without pay to help the company overcome difficulties. I bet you they will run away immediately when they hear the company is in trouble so the company must always make the right calculation to keep their business afloat.

It is really difficult to come up with a complete solution for your business and your employees, if the company does not meet your needs and you are confident that you deserve more than you are getting. You should find a better company instead of blaming them.

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Quote from: Davidvictorson on November 03, 2022, 03:17:56 PM

What do you think? Are companies losing the battle for long term employee retention?

I think in this case the company should do some tips and main retention goals for employees in improving their performance, so that they don't get bored and quit, apart from the mission, vision and some planning, I think the company needs other things to increase their employee retention for the long term.

As an example:
• compensation, rewards, financial support or additional bonuses, skills, comfort for employees to improve and create a positive and healthy work environment, in my opinion, very important, for the company to do for employees to stay comfortable, in cases like this I judge the company has failed / lost in maintaining and developing retention for employees, because it does not attach importance to the main points for employees.

What is certain is that management and economic factors financially must also be improved. That is a factor that must be implemented properly, automatically employees will improve their skills, so that I believe employees have no reason to quit and look for new jobs.

Conclusion: In this case to increase retention for employees so that the battle does remain win not lose, employees can be retained in the long term, method, Of course the owner of the company in general what needs to be considered is developing an efficient strategy, perhaps both in making decisions for employees and also including financial strategies to create long-term tenure.

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