As an Executive Recruiter, the first question I ask candidates when I meet with them is “What is driving you to look at new opportunities?” Here are the three most common answers and how to avoid losing your top employees.
1) There is no opportunity for advancement
2) Lack of flexibility
3) I don’t have the ability to influence business decisions
For the first point, managers must make it clear to employees how and where they can move forward on their career path. They don’t need to promise them a manager role in 12 months, but they need to set realistic expectations of what the next step up in their career can be. Employees want honesty versus having a manager skirting around the issue and pushing the topic aside.
Flexibility has been a very hot topic for both employers and employees as of late. With an increase of employees who have obligations outside of work, there is a real desire to have flexibility in their work schedules. Some companies have implemented results focused work schedules and others have offered telecommuting as an option. Whatever option a company chooses, offering some sort of flexible work environment will give them a real advantage of attracting and retaining top talent.
The third most common answer is not having the opportunity to influence business decisions. I hear time and time again; “My boss doesn’t listen to me.” Employees realize that they might not have the opportunity to be the main player in the decision-making process, but they desire an open door policy where they can express their thoughts to their manager. A key to employee loyalty is when employees feel their work and ideas are valued and appreciated.
The bottom line is the job market for finance and accounting professionals is changing and heating up. The companies who have adapted to these changes are going to come out on top for attracting and retaining the top talent.