You spend money to hire talented people.
Time has been invested, and training has been done. Unfortunately, for some reason, you cannot keep them, and you end up losing them to your competition quickly than you can hire them.
If you haven’t figured it out yet, these are the possible reasons, and you may want to do something about it to avoid making the same mistakes again:
The pay difference
Whether we admit it or not, one of the biggest factor (usually the first) to consider is the salary you are offering. Of course, there are other considerations but we work to make ends meet and make life a bit comfortable, and if your pay isn’t on par with at least the average in the industry, you will not keep the people you want.
The strict rule of inflexibility
Most employers would prefer employees to work at the office. However, times are changing rapidly and so are the preferences of those seeking jobs. Some could not stick to 9-5 schedules while others would want to work from home. Consider this, and you would have a chance of keeping great people with you.
The benefits you offer are not enough
Employees would not ask for the impossible, but they would expect that you provide the same benefits as others employers in your area. For example, where do your medical insurance, your pay raises and vacation time stand? How about retirement savings plan? These are the things that matter the most because these are what the employees or prospective employees need.
Bad management style
Sometimes, what you think is great is not the same from your employees’ perspective so consider the things you do that could affect your business and the people’s morale. For example, I used to work for a boss who keeps changing his mind every so often. Sure, the pay was good, although the work hours were long. I thought it was worth it, but if you have to deal with changes after changes every week or so, it becomes ridiculous. He also favored the management and ignored the needs of the rank and file employees, which was not only unfair, it was short of uncaring. He wasn’t shy about throwing expletives, too. Naturally, people don’t last long.
We all have the capacity to make adjustments. Perhaps handling people, treating and compensating them well will help you make all the difference and keep the great people to make your company an even bigger success.