Are your NetSuite specialists are resigning?
Data from the latest NetSuite Market Trends & Salary Survey delved into the most important reasons why NetSuite employees wanted to switch roles. The NetSuite specialists who are reading this may or may not agree with them. But, if you are an employer, it might be worth taking a look at what the respondents said. You may need to make a few changes if you want to successfully keep your team together.
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Read our independent NetSuite marketing report and learn how to limit your NetSuite staff turnover.
1. Lack of salary increase in their current NetSuite position
It’s no surprise that the lack of salary increases is 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 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 also to 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. Some businesses are trialing Bonuses, perks, and other benefits.
2. Can your Netsuite specialist advance their career in your company?
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 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. Is there strong leadership for your NetSuite specialist?
Employees are often left out of 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.
We found in our independent salary survey that 26% of the Survey respondents said that a lack of leadership and vision was one of the reasons they wanted to leave their employer. If staff members feel included in company plans, they become more invested, meaning they are less likely to want leave.
Hire a leader for your NetSuite team
4. A NetSuite specialist needs to be challenged
As an employer, it can be easy to forget that employees doing the same tasks every day may not feel very fulfilling. We discovered that 23% of our survey respondents said that the lack of challenges within their current position was a reason they wanted to change their job. If your NetSuite platform has run smoothly, then that’s a huge indicator that your employee is doing the job successfully and their skillset could be used for other role opportunities.
It is worth setting up regular meetings with your NetSuite specialists to discuss the work they’re doing, and how it could be improved. They are likely to have a diverse range of innovative ideas that your company could be using.
Remember, they are the NetSuite specialist. So if you want your business to flourish while using a NetSuite product, be sure to ask the experts opinion, after all, that’s why you’ve hired them.
5. Have you created a positive work environment?
Over 20% of the salary survey respondents indicated that they wished to leave their current position because of the company’s negative environment and culture.
A business environment and culture can be challenging to change once the status quo has been set by years of cookie-cutter management. Unfortunately, this is when a ‘toxic’ environment can become prominent.
As an employer, we suggest understanding the signs of a toxic work environment to limit your future NetSuite professional leaving due to feel uncomfortable in the workforce.
Here are the Indicators you should keep an eye out for:
- A high turnover of staff.
- Members of your team not speaking up in meetings.
- The increased number of employee sick days.
- Keep regularly notes on the interaction between employees and their line managers.
- Team leaders and managers are blaming their teams for issues.
Employees who feel uncomfortable, unappreciated and undervalued in the workforce will find it difficult to tell you face to face how they think about company culture.
To prevent excellent staff from leaving, try to circulate an anonymous questionnaire and get a taste for what they think. Be prepared to hear things you might not like, but, try to act on the results, or you may find you’ll continue to lose your talented employees.
How to keep your NetSuite staff happy at work
No manager wants a high turnover, to prevent this from happening try and invest time developing a great working relationship with your NetSuite staff.
Allow them to feel a part of the company’s plans, be active in creating a positive work environment; and finally, respect their opinion, especially when it comes to the NetSuite software, remember they are the NetSuite specialist.
Don’t feel discouraged if you’ve tried all of these tips and your NetSuite employees still want to leave. You can do everything in your power to be the best boss you can be, but sometimes it’s just not a good fit – Try not to worry as there are plenty of specialist in the talent pool.
