<-- Back to Building a Winning Finance Team Series
Losing your best employee is never a good thing, but if you take anything away from the situation, learn how to improve your employee retention moving forward.
Employees are the greatest assets to any company. However, losing one employee cannot bring your business to a screeching halt. It’s your responsibility to create the best work environment for your employees, but it’s unrealistic to expect your employees to stay with you forever. If you want to give yourself the best chance of avoiding losing your best employees, avoid major employer blunders.
Why Great Employees Leave
There can be any number of reasons an employee leaves a position. They may be looking for a change of scenery. But for instances in which an employee was driven to move to a better situation, employers are given a teachable moment on how to improve employee retention rates.
While compensation is often the first thing that comes to mind as to why employees leave a position, how an employee is treated in their role plays a much larger part. Look for these red flags that may send great employees packing:
Ask Your Employee Why They Left
Find out what drove your best employee away. This feedback is invaluable to your company moving forward. Do you need to pay your employees better in order to retain great talent? Is your management style repellent to driven workers? Are you leaning too much on your best employees and burning them out? Listen to your employees in order to create the best possible work environment.
Be the Company Your Team Wants You to Be
It is the job of upper management to foster top talent by creating a workplace that employees love to come to every day. Avoid management tactics that push away your best talent, and focus on creating an employee-first company culture.
For more managerial advice or to empower your team by hiring a new employee, partner with Halcyon Finance & Accounting Recruitment. We have a pool of deeply talented Toronto wide accounting and finance professionals. Contact us today.
How can we help? Please let us know how we can support you or your business?