Sometimes by coincidence, you have a few people leave in a short time. But if your turnover rate is significantly above the average rate in your industry (about three percent nationwide and as high as six percent in some industries) then it may be time to examine what’s going on in your organization.
Causes of high turnover can include a lack of opportunity for growth and progression, when employees feel they have no specific track to a promotion or more money. This usually goes hand-in-hand with a lack of a formal process for employee performance feedback and recognition. Small companies, particularly in IT, sometimes must work so rapidly that they don’t have time to implement these basic policies and procedure.
Employees might also be looking for a way out when they simply have too much work. Added responsibilities and long days with no end in sight quickly leads to employee burnout.
The last issue that usually contributes to a higher-than-average employee turnover is simply making bad hires. You either end up having to fire someone to correct a mistake you made, or the weaker employees drive the good staff away.
IT staffing services can help analyze the facts behind your turnover rate. Find out if you’re making the wrong kind of hires or if there is something going on with your company that’s making people want to leave. A full analysis of your compensation and benefits, support for employee growth, and your corporate culture can identify ways to improve.