We shouldn’t be surprised when a finance team member walks out the door, and yet many of us have been caught flat-footed by an employee resignation. And while no manager is a fortune teller, there are definitely red flags to pay attention to.
Here are some warning signs that you’re about to lose a finance team member.
Why People Leave
There are a number of reasons people leave:
- Poor management
- Lack of career progression
- Salary not meeting market expectations
- A lack of work/life balance – too many overtime hours
- Dysfunctional team
- Limited flexibility
The Warning Signs
The Harvard Business Review researched the signs exhibited by employees who were about to quit. The study found 13 pre-quitting behaviors:
- Work productivity decreased
- Decreased commitment to being a team player
- Only completed the minimum amount of work
- Exhibited a disinterest in pleasing their manager
- Less of an interest in committing to long-term timelines
- Overall negative change in attitude
- Less motivation than usual
- Less focus on job-related tasks
- Expressed dissatisfaction with their job more frequently than usual
- Expressed dissatisfaction with their manager more frequently than usual
- Leaving work early
- No enthusiasm for the mission of the organization anymore
- Decreased interest in working with customers
Read this study to learn more about the warning signs that an employee is considering quitting.
What to Do
What can you do as a manager if one of your employees is exhibiting the warning signs above? The study makes a key recommendation which is to conduct “stay interviews.” These regular, one-on-one meetings focus on finding out what keeps employees working for an organization. This proactive approach can result in retaining employees who might otherwise become a flight risk. Other suggestions include:
- Involving the employee in a new project or initiative that connects to their passion or interest
- Making sure employees feel valued as individuals – managers must build rapport and demonstrate a commitment to employee well-being
- Ensuring a consistently open channel of communication so that employees feel comfortable expressing dissatisfaction – don’t dismiss these conversations, take action as soon as possible
Read this blog to learn what progressive organizations are doing to retain top talent.
There are often signs that tell us someone is about to exit stage left. Decreased motivation, productivity and commitment to their manager and team are indications that an employee is potentially looking to transition. By being aware of the signals, conducting “stay’ interviews” and taking proactive steps, we can hopefully prevent our talent from walking out the door.
Your Next Step
No one should walk the job search or hiring road alone. At Clarity Recruitment we help others realize their success through a process that marries proprietary technology with unwavering commitment. Contact us today to take control of your career, or to partner with us to hire well.
Clarity Recruitment, connecting exceptional people with remarkable companies.