Why startups lose good employees and a word of strategy on how to keep them

  • Why startups lose good employees and a word of strategy on how to keep them

    Date : 16-08-2018 16:23

    The startup culture in India has already gained pace and new startups are sprouting up in every business hotspot at a tremendous rate. Professionals from every spectrum of the experience bandwidth are diving into the world of startups to get a taste of the adventurous lifestyle.

    As opposed to the rule and regulation-bound environment of corporates where an employee just feels like a cog in the wheel, working without a sense of a united vision and living the life of a glorified labor, startups offer an unconventional and dynamic environment where one has flexibility of pursuing projects of his own, independence of wearing casuals at the office and flexible working hours along with the inspiration of working towards a shared goal.

    While all these features of the startup life seem so attractive and advantageous, it has been observed that there are some downsides to the startup culture too. It has been noted that the retention time of employees in a startup is very less.

    Managers are baffled as to why their high-performing employees are leaving their firms for other opportunities. A good manager should know better to keep an eye on the ones who are least likely to grumble and whine because they might be looking out for better opportunities.

    Additionally, people at the top of the hierarchy should make the environment suited to employees’ needs. They should figure out the reasons for decreased employee retention and try to remedy them. Employees might be leaving due to one or more of the following reasons:

    Ø  They don’t see a future: An employee might feel that his long-term goals aren’t aligned with the firms. The firm managers should find out about his long-term goals and do what they can to be a part of that goal.

    Ø  Money: This is one of the major reasons for employees leaving the firms. A bootstrapped startup won’t be able to keep its workers happy until they are reviewed and rewarded for the good work they do.

    Ø  Lack of communication: Two-way communication is necessary. Employees’ needs need to be addressed and solved. Additionally, their opinions should be heard and they should be informed about the company’s achievements.

    Ø  Long working hours: Employees often need to work insane hours in order to complete targets. Managers should make sure they are getting enough rest and are not feeling burned out.

    Ø  Lack of resources: No one likes working in an uninspiring environment where resources are scarce and their productivity is hindered due to the same reason. They should be provided with as many resources as your budget allows.

    Addressing these problems in a sustainable manner would surely help in making the employees stay at their firms. 

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