Are Your Top Performers on Their Way Out?

Officevibe found that a startling “51 percent of workers are looking to leave their current job.” This shows the level of collective dissatisfaction among today’s workers and suggests that many are willing to leave for other opportunities. As you probably already know, having top performers jump ship can be a huge blow to retention and hurt your company’s bottom line.

Costly and Time-Consuming 

A study by The Society for Human Resource Management found, “Employers need to spend the equivalent of six to nine months of an employee’s salary in order to find and train their replacements.” The financial impact of turnover is obvious and can really drain the resources of smaller businesses. If this happens frequently, it can create a vicious cycle that can take a toll on overall profitability and growth.

You also have to consider the amount of time it takes to replace workers. You have to:

  • Create a job description
  • Filter through resumes
  • Perform Interviews
  • Train new hires
  • Get them up to speed on policies

There’s a lot involved in the process, and in some cases you may not be able to find replacements that possess the same level of knowledge and expertise as your top performers.

Measuring Job Satisfaction

It’s clear that retaining your best and brightest is important. But how do you ensure they’re happy and don’t jump ship? One of the best things you can do is gauge the job satisfaction of your employees.

Here are a few potential strategies:

  • Anonymous suggestion box – It can be tricky to get completely unbiased feedback if you ask employees what their opinion is in a social setting like a meeting. Although this is somewhat of an older technique, it tends to be effective for getting the input you need.
  • Online surveys – Surveys have come a long way in recent years. You can now use a variety of platforms like Google Forms and Survey Monkey to generate detailed data. They’re highly customizable, and most platforms offer visual charts and graphs so you can easily interpret the data.
  • One-on-one conversations – You may also want to sit down with your top performers and ask them what they’re satisfied with, what they’re dissatisfied with, what your company could improve upon and so on. You may have to read between the lines a little, but this can provide you with some good intel as well.

Don’t wait until it’s too late. It’s important to measure the job satisfaction levels of your top performers on a routine basis, so that way you can make adjustments and address problem areas before it’s too late.

Do you need assistance finding top talent in your industry? Contact Encadria Staffing Solutions to see how we can help.

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