Read More: End-of-Year Performance Evaluation: How to Ensure Fairness and Transparency?

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The end of the year often sees significant "employee turnover" in many organizations. This trend not only results in losses in recruitment and training costs but also directly affects performance and organizational morale. Let’s analyze the root causes and propose solutions through a practical approach, with the support of HRDept – the trusted partner connecting Ethical Employers with the right Candidates.

1. Why Do Employees Quit at the End of the Year?

a. Unfavorable Work Environment

The work environment plays a crucial role in retaining employees. According to a Gallup report, 85% of employees leave their companies due to dissatisfaction with management or workplace culture. At the end of the year, when work pressure escalates due to quarterly targets and annual plans, such dissatisfaction often reaches its peak.

b. Lack of Growth Opportunities

Employees tend to reflect on their career progress at year-end. If they perceive no potential for advancement or skill development, they are likely to seek alternatives.

c. Non-Competitive Benefits and Policies

Compensation and benefits are critical factors. HRDept has observed that employers lacking year-end bonuses or fair distribution of benefits are more likely to face staff losses during this period.

d. Impact of the Job Market

The end of the year is a bustling time in the labor market. Companies with expansion plans often launch new positions offering attractive salaries and benefits, making it easier for employees to consider leaving.

2. How to Address Year-End Employee Turnover

a. Build a Strong Organizational Culture

A workplace that fosters fairness, respect, and talent development is key. HRDept recommends that employers continuously improve workplace culture and regularly gather employee feedback through surveys.

b. Invest in Employee Development

Ensure that employees have opportunities to learn and develop skills. Establishing clear career pathways and providing mentoring programs can strengthen their commitment.

c. Implement Flexible Compensation Policies

Employers should adopt transparent year-end bonus policies, coupled with supplementary benefits such as insurance, travel allowances, or learning funds for employees. HRDept can offer consultation to develop competitive policies in the market.

d. Recruit the Right People from the Start

HRDept has successfully connected thousands of Ethical Employers with suitable Candidates, ensuring long-term commitment. An optimized recruitment process not only identifies the right candidates but also enhances employee retention.

3. Key Data Points

Source: HRDept and surveys of the Vietnamese HR market, 2023.

4. Conclusion

Retaining talent is not merely a financial challenge but a long-term strategic endeavor. The end of the year doesn’t have to be a “resignation season” if businesses can understand and address employees’ needs and concerns. With the support of HRDept, companies can build a stable, effective, and loyal workforce.

Let HRDept help you recruit not just employees but true teammates!