You have probably heard it a thousand times, “People don’t leave jobs, they leave managers.” So let’s put a positive spin on this – good management equals higher staff retention.
As a manager, you have the power to prevent issues with employee retention by creating processes, systems and requirements that will make employees stay longer and work more productively in your company. It is critical for managers to put these systems in place to support the needs of employees, increase market compensation and benefits, generate meaningful work and have a meaningful and significant effect on employees and the workplace.
A recent study from Forbes Magazine has compiled the top seven reasons why people change jobs. Although it can be daunting, there are some positive points to take away from it. Listed below are the reasons Forbes uncovered and to help illustrate our point, the reasons that can be controlled or at least impacted by a manager are bolded.
1. Lack of Opportunity = 31%
2. Bad Management = 22%
3. Toxic Workplace / Company Culture = 12%
4. Career Advancement = 8%
5. Excessive Work or Too Little of It = 6%
6. Higher Salary and Financial Stability = 6%
7. Inadequate or lack of rewards and benefits = 4%
8. Other Reasons = 11%
As you can see, majority of reasons for switching roles are, generally speaking, within control of a manager to impact one way or another. In fact, the reasons outside of a manager’s control only surmounts to 25%! In theory, good management can reduce the risk of people leaving your organisation by up to 75%.
What does all this mean for you?
Getting the right manager for your team is paramount. When looking to hire a new manager, be sure to place value on getting the decision right the first time. Also, it can be good practice to act fast so that your competition does not snap them up and consider the financial impact they will have on your company when negotiating their salary (both the cost and value).
With nearly 2,000 Managers on our database, Teamrecruit has the largest industry specific database in Australia. If your organisation needs any assistance, please do not hesitate to contact us for an obligation free chat about our services!
Teamrecruit is Australia’s most established recruitment agency specialising in truck, earthmoving and agricultural machinery dealerships in Australia, New Zealand, the South Pacific and Southeast Asia. Find out more about Teamrecruit and how we support employers and candidates in the dealership industry.
