Why Employees Move On Pt 2
In part one of this topic, we explored whether you liked your boss or not. This week, using the L.A. Times article published October 21, 2012, and titled Beware: Warning Signs when Choosing Next Job, we'll look at what employees may come in looking for. In the article, career experts suggest using the following questions as a basis for research:
1. How old is the company and how long has it been in business? This will help employees know whether your company is stable. Has been around long enough to have weathered and survived tough economic times.
2. Is it profitable? Does the firm take in revenue or is it financed with venture capital funds while trying to make the next, big check? Our paycheck to our employees is part of their survival. Your company's stability affects the employee's sense of survival and trust in the company. For entrepreneurs, you are the company so how can you give your employees confidence they'll get paid and paid on time? Does your business have a cashflow management problem? If you pass on the instability of your company onto your employees they will perceive the company as being in crisis and may seek employment elsewhere. Doing that adds stress and a sense disrespect to the relationship because they perceive you as not strong enough to run the company that's paying them.Is the accounting department stable? A lot of
3. Do the employees enjoy their work experience? 54% of employees think their relationship with their boss is important and 47% of people move on because of their relationship with their boss or the culture of their company. As the boss, check with the people who work for you and find out what the environment is like. Are your employees working 12-hour days because there's a hot project you need to get done?
4. Does the company serve more than one industry? Again, this is a stability issue where employees worry the company may be spreading itself too thin and the employees' workload will be too much.
How do you handle the stability of your company?
I also found an article that gave people a 6-point checklist on how to choose their next job.
If you're a small business or an entrepreneur, the people who are going to work for you are either new and looking for a place to start (unseasoned employees) or people who are looking for advancement and who want to grow with you and the company. When you interview with an employee do you consider whether they're a newbie or an expert? Do they have 70% or more of the technical skills you need? Or do you tend to take on people because you like them and find them friendly and you overlook the technical requirements?
The article suggests employees consider the time and cost of their commute when looking for a new job and I suggest you as a boss do the same. If employees are looking for financial stability, a positive work experience, and to be qualified for their job, they also want a decent commute. As an employer, think about how long it will take someone you're interviewing, to get to work. Know who you're hiring and what they'll have to overcome or deal with to get to work each day.