Day: November 18, 2019

The Top Reasons Why Employees Leave Their Jobs

People quit their jobs for a lot of reasons. They may do it because they are relocating to a new place or they simply want to change careers.

According to a Mercer study, a whopping one-third of all the new employees plan on just quitting their job in the next 12 months. This is a huge number and is astronomically way higher than our parents’ or grandparents’ time. The culture, work environment, relationship with co-workers all affect why you do not want to pursue that job anymore.

To sum it up, here are the top reasons why employees leave their jobs.

No Work-Life Balance

According to a Washington Post contributor, she knew she would quit the job and two months later, she left it.

But what drove people to resign from their positions?

It is because they have no work-life balance. When you have your family responsibilities and you want to keep doing the job, then you need to have some work-life balance. Without it, everything spirals and you have no option but to prioritize your responsibilities over your job.

Too Much Work Pressure Or No Work

reasons why employees leave their jobs

A lot of employees keep quitting their jobs because there is so much pressure at work or there is no work at all. Thus, the level of capability and productivity can fluctuate. Before you know it, you’re already planning to quit.

It is just tougher to go forward when you hit a roadblock. You can’t do anything but experience burnout. Going through ultimate boredom or an extremely toxic environment can be enough to make you quit.

No Promotion for a Long Time

One of the main reasons why people quit is when they do not have any mobility upward.

When there are no opportunities for growth or advancement into higher-paying positions, some people do not find any point in staying and working for a company any longer.

Poor Management at Work

When you are working in a coveted project in a company, you need to have a great manager who is excellent in communications. Managers need to be an expert in communication and also interpersonal skills.

Unfortunately, there are still a lot of managers out there who aren’t trained enough to solve managerial level problems. No explicit communication and lots of expectations can leave both the employee and employer unhappy with how things shape up in the work environment.

Toxic Environment at Work

When you are looking at how not to lose good employees as an employer, maybe you need to check the kind of environment you are building up for the employees. The situation becomes too toxic when there are:

  • Interpersonal conflicts
  • Too much of office gossip
  • No positive encouragement from the team leads
  • Recognition-grabbing co-workers who haven’t put enough hard work

These things can make good employees stop caring. They leave to find a better place to grow and work. Hence, as an employer, try to make the environment much more positive and have a few flexible options without being too penalized.

Improper System of Rewards

If you have done the management program, you know that employees look for some motivation to work productively. This is why there should be paid holiday leaves, raises or bonuses.

When you notice that employees are leaving in waves, then check up on the reward system you have in place. Perhaps one of the main reasons  why employees quit their job is because there isn’t enough motivation to make them work in a way that is effective and productive.

Benefits that Don’t Benefit!

top reason why employees leave their jobs

If you are offering stingy benefits to bloat the package, then it won’t help. Employees know what they deserve, like the right health insurance, generous sick days, flexible hours of work, and maternity and paternity paid leave.

See Also: Preventing Employee Turnover With Better Benefits

Change in Career Goals and Growth

One of the reasons why great employees quit is because they have to change their career goals. If they find that one career is not fulfilling, they will look for other opportunities.

There are different ways you can convince them to stay and that is to help them improve their skills. This works well in high-performing individuals.

Conclusion

These are the top reasons why employees leave their jobs. As the famous billionaire said, if you pay peanuts, you will get monkeys. As an employer, try and improve your relationship with your employees. Remember to support and respect their needs and work.

Reward and give recognition to the ones who perform well or take a day out with all of them to enjoy!

See Also: Redefining Office Culture To Boost Employee Satisfaction and Productivity

The post The Top Reasons Why Employees Leave Their Jobs appeared first on Dumb Little Man.

Opera’s Africa fintech startup OPay gains $120M from Chinese investors

Africa focused fintech startup OPay has raised a $120 million Series B round backed by Chinese investors.

Located in Lagos and founded by consumer internet company Opera, OPay will use the funds to scale in Nigeria and expand its payments product to Kenya, Ghana and South Africa — Opera’s CFO Frode Jacobsen confirmed to TechCrunch.

Series B investors included Meituan-Dianping, GaoRong, Source Code Capital, Softbank Asia, BAI, Redpoint, IDG Capital, Sequoia China and GSR Ventures.

OPay’s $120 million round comes after the startup raised $50 million in June.

It also follows Visa’s $200 million investment in Nigerian fintech company Interswitch and a $40 million raise by Lagos based payments startup PalmPay — led by China’s Transsion.

There are a couple quick takeaways. Nigeria has become the epicenter for fintech VC and expansion in Africa. And Chinese investors have made an unmistakable pivot to African tech.

Opera’s activity on the continent represents both trends. The Norway based, Chinese (majority) owned company founded OPay in 2018 on the popularity of its internet search engine.

Opera’s web-browser has ranked No. 2 in usage in Africa, after Chrome, the last four years.

The company has built a hefty suite of internet-based commercial products in Nigeria around OPay’s financial utility. These include motorcycle ride-hail app ORide, OFood delivery service, and OLeads SME marketing and advertising vertical.

“Opay will facilitate the people in Nigeria, Ghana, South Africa, Kenya and other African countries with the best fintech ecosystem. We see ourselves as a key contributor to…helping local businesses…thrive from…digital business models,” Opera CEO and OPay Chairman Yahui Zhou, said in a statement.

Opera CFO Frode Jacobsen shed additional light on how OPay will deploy the $120 million across Opera’s Africa network. OPay looks to capture volume around bill payments and airtime purchases, but not necessarily as priority.  “That’s not something you do ever day. We want to focus our services on things that have high-frequency usage,” said Jacobsen.

Those include transportation services, food services, and other types of daily activities, he explained. Jacobsen also noted OPay will use the $120 million to enter more countries in Africa than those disclosed.

Since its Series A raise, OPay in Nigeria has scaled to 140,000 active agents and $10 million in daily transaction volume, according to company stats.

Beyond standing out as another huge funding round, OPay’s $120 million VC raise has significance for Africa’s tech ecosystem on multiple levels.

It marks 2019 as the year Chinese investors went all in on the continent’s startup scene. OPay, PalmPay, and East African trucking logistics company Lori Systems have raised a combined $240 million from 15 different Chinese actors in a span of months.

OPay’s funding and expansion plans are also harbinger for fierce, cross-border fintech competition in Africa’s digital finance space. Parallel events to watch for include Interswitch’s imminent IPO, e-commerce venture Jumia’s shift to digital finance, and WhatsApp’s likely entry in African payments.

The continent’s 1.2 billion people represent the largest share of the world’s unbanked and underbanked population — which makes fintech Africa’s most promising digital sector. But it’s becoming a notably crowded sector where startup attrition and failure will certainly come into play.

And not to be overlooked is how OPay’s capital raise moves Opera toward becoming a multi-service commercial internet platform in Africa.

This places OPay and its Opera-supported suite of products on a competitive footing with other ride-hail, food delivery and payments startups across the continent. That means inevitable competition between Opera and Africa’s largest multi-service internet company, Jumia.

 

 

 

 

 

Take a look at the first all-electric Ford Mustang Mach-E. (It’s an SUV.)

Last week Ford thought it played it coy only revealing the name of its first all-electric vehicle (the Ford Mustang Mach-E), but after some simple poking around the Ford website, images, video, specs, and prices of the upcoming vehicles were leaked ahead of Sunday’s big reveal in Los Angeles. 

But the leaks, still posted on a Mach-E online forum, were accurate: Ford’s first EV does indeed look like a puffed up, oddly compact SUV version of its Mustang muscle car glory of the 1960s. The car is no longer two-door, but it’s still got the pony emblazoned on the front. Its Mustang Mach-E GT Performance Edition is the most reminiscent of the sporty Mustang of the past, with its zero-to-60 mph in mid-3 seconds and 459 horsepower abilities. Read more…

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