How to Curb Resignation Rate

The concern for resignation is a fact that every manager could relate to. Every HR Manager is familiar with the pain of resignations in the organization. It is astonishing to know that the percentage rate of resignations has accelerated at almost the rate of 29% in 2021 , in comparison to 2020. The employees have become job hoppers. They tend to change jobs very frequently. Almost 42% of the employees tend to switch jobs in the very first year. When reviewed it was found that they felt that the company didn’t offer them benefits which motivate them to continue their service or they didn’t find any reason to stay back. 53% of employees have complained that their managers were never concerned about their well being in the organization. They never discussed their job satisfaction with them. They didn’t find the approach towards resignation to be proactive. This is a burnout situation for the companies as the leaving employee may cost them up to double of the employee’s salary. The possible reasons for resignation are found to be financial, lack of belongingness or personal. 

The initiatives that could curb resignation are:

• Proactive approach

 Unfortunately, the managers are highly concerned about the hiring process and final placements of the employees. But they get ignorant when it comes to post hire engagement. They are unable to engage employees or create a sense of belongingness. The issues of the employees are not acknowledged on time. This results in dissatisfaction in the mind of the employee and he feels disassociated in the system. The company must take initiatives to engage, train and retain employees. 

• Data Analytics for the HR Processes of hiring, training, engaging & retaining employees

Looking at today’s scenario we can easily say that ‘Data is the new fuel’. All the processes are data driven and the companies are utilizing technology to get the desired outcomes. Similarly, understanding the trends and facts helps the managers to hire the right personnel.

• Make strategies for Employee Engagement

 For every organization, it is very important to keep a strong check on the    processes related to employee engagement. The managers must acknowledge the fact that taking regular feedback and open door policy would help in improving the motivation level of the employees. It would develop a sense of belongingness and engagement with the organization. The employee should be provided a platform where they can raise their concerns or grievances. 

The word ‘Resignation’ has been haunting the leaders since a very long time. These are few measures which could reduce the rate of resignations, however many points are untouched. Mental health, good work culture, progressive environment, etc are few other factors can improve the organizational health. The employees feel their worth in the organization and feel appreciated, they tend to have longer association with the organization.