Man reading newspapers at bar NetSuite Specialists

Do you know why your best hires are leaving?

Data from the latest NetSuite Market Trends & Salary Survey delved into the most important reasons why NetSuite employees wanted to switch roles. NetSuite specialists reading this may or may not agree with them.

If you are an employer, it might be worth taking a look at what the respondents said.  You might need to make a few changes if you want to successfully keep your team together.

1. Lack of salary increase

Bank notes on laptop NetSuite Salary Survey

It’s no surprise that the lack of salary increases would be the number one reason for wanting to change employer in the survey results.

51% of survey respondents stated that not getting regular wage increases was the main reason why they would be looking for a different position.

Employers, you need to be aware of what the current wage rates for your members of staff actually are. You can find that information in the NetSuite Market Trends & Salary Survey.

If you’re not paying your NetSuite talent what they are worth, then you shouldn’t be surprised if they consider moving to other companies who will.

It’s not always easy, or even worthwhile, to give employees incremental salary increases every year. In all honesty, not all of your employees will have added anything to the business to even warrant one!

However, it would appear that some companies are beginning to think about different ways to ensure that their employees are getting the remuneration that they deserve. Bonuses, perks, and other benefits are being trialed by some businesses.

2. Lack of career progression

Three women in a meeting NetSuite Specialists

Not everyone wants to move up the ladder in the company where they work.

But, 42% of our survey respondents told us that the lack of promotion opportunities was the reason they wanted to move on to pastures new.

NetSuite specialists will usually have a lot of knowledge and experience using the system within your business. Could that knowledge be used in different parts of your company?

Ensuring that you, as their employer, have regular conversations with your staff will help you understand their personal career plans. You may not be able to offer them a promotion immediately, but even speaking with an employee about what they want can help to strengthen the employee/business relationship.

3. Lack of leadership

Compass in a hand NetSuite Salary Survey

Employees can often be left out of the higher management plans. In a lot of companies, the idea of staff being involved with business decisions would be unthinkable.

Successful businesses are finding that being more transparent about business plans and company vision is having a very positive effect on the happiness of their employees.

If staff members feel included in the plans and the future for the company, they become more invested, meaning they are less likely to want leave.

26% of the Survey respondents said that lack of leadership and vision was one of the reasons they wanted to leave their employer.

4. Need new challenges

Watch on business man NetSuite Salary Survey

23% of our survey respondents said that the lack of challenges within their current position was a reason they wanted to change their job. This can be a more difficult requirement for an employer to meet.

If your NetSuite platform has been set up and is running perfectly then it would indicate that your employees are doing a great job. As an employer, it can be easy to forget that employees doing the same jobs every day may not feel very fulfilled.

Check how your NetSuite specialists are feeling about their work, as you may be surprised when you ask them. They’re likely to have ideas about projects they could work on that you hadn’t even thought about.

Asking the people who do the job every day will give you very important insights to your company processes and how they could be improved.

5. Working environment

Man with crossed arms NetSuite Specialists

Every business has its own environment and culture. It’s developed over years and is created by management attitudes to staff and where the company is based.

21% of the Salary Survey responses indicated that they wished to leave their current position because of the company’s negative environment and culture.

As an employer, you need to be aware of what that environment and culture are like to actually work in. You have to take responsibility to ensure your business isn’t considered ‘toxic’.

Indicators of having a less than perfect culture in your office are:

  • A high turnover of staff.
  • Members of your team not speaking up in meetings.
  • Increased number of employee sick days.
  • No interaction between employees when managers are present.
  • A lot of backstabbing and nastiness between staff.
  • Team leaders and managers blaming their teams for issues.

If your employees feel uncomfortable, unappreciated and undervalued, they will look for other places to work. Who can blame them?

Don’t expect your people to tell you face to face how they feel about company culture. A simple idea is to circulate an anonymous questionnaire and get a taste for what they think.

Be prepared to hear things you might not like. But, you must act on the results or you will continue to lose your experienced and best employees.

If you would like to learn more about what experienced NetSuite specialists think about their salaries, benefits, certifications and much more, download the NetSuite Market Trends & Salary Survey.