Why High Performers Quit: Reasons for The Best to Flee the Nest

Why high performers quit

Do you know what is the turnover rate of your company? Are your best employees included among those deciding to leave? Did you try offering a promotion when they resigned, but even then, they decided to bow out? Maybe it was too late for them. Or perhaps you were not able to recognise them as high performers, or to keep then motivated. So, let's start from the beginning and click here to learn how to recognise talent. But if you already know who the high achievers in your company are, and you want to know what could make them leave to avoid the situation, keep reading here.

Studies indicate that high performers are 400% more productive than the average worker. Hence, if your best staff is leaving your organisation, your company needs to reflect on the facts that take them to resign, to be able to fix why the best flees the nest. Only then you will be able to tackle the issue and prevent your high achievers from quitting your organisation in the future.

As a reaction to this phenomenon, some companies are implementing aggressive programs to manage turnover and hold on to those employees who contribute most to their business success. According to Oxford Economics, replacing members of staff costs employers around £30,614 per employee. However, some managers consider certain industries susceptible of high rates of turnover, and little can be done to improve retention in a rapid growth business environment with little unemployment.

1. They can't see opportunities for development within your organisation

This is one of the most common reasons among the workforce to leave a company. A study involving 310 workplaces providing career development tools, discovered that one in three workers quit their last job because they didn't learn new skills. Only 26% of the employees taking part in the study rated their employers' development tools as adequate.

2. They don't feel valued

Sadly, this issue is quite common. Around 66% of the employees would quit if they didn't feel appreciated. If you are a high achiever and you know it, you probably would quit too. Companies that have taken a strategic approach to employee recognition have seen improvements in this area.

3. They want more money

Not everything is money, but it helps. High performers don't tend to compare themselves with others, but they certainly benchmark themselves. Then, if they come across a salary survey and you are not paying what is on the market for them, they might feel underpaid and leave you for a better offer.

4. They don't receive enough or valuable feedback

Many people might take feedback as criticism, but high performers will listen to every word you say, hoping to get better at what they do. Surveys show that most high achievers expect monthly meetings with managers to talk about their performance. However, just over half of employers do it. So, if you're currently having annual reviews, you need to know that the best of your workforce will be expecting more communications from you. They'll feel more appreciated for taking the time to talk to them, and they will have a greater motivation to stay longer in your company.

5. They don't feel aligned with the company's mission, vision and goals

Candidates in general, and high achievers in particular, are looking for a company culture that fits with their core values. Around 50% of the 2,000 employees taking part in a survey declared that they are looking for a new job because they didn't feel the corporate culture fits with them.

To keep the best of your workforce engaged, you should set clear goals. Using SMART objectives: specific, measurable, achievable, relevant, and time bound. Also, setting Key Performance Indicators (KPIs) will help to observe how effectively the objectives are being achieved.

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