When a financial services leader receives a resignation letter, spotting the reason won't make any difference at that point. The probability of retaining such an employee is extremely low since he has decided long ago or probably has already found a new job. Therefore, the manager needs to determine the state of "internal dismissal" of an advisor (when he physically works in the company, but mentally he is already in a different place) as early as possible. 

You should be on the watch for these signs so you can take action before it's too late:

Increased absences or lateness

If a reliable and punctual financial associate suddenly starts arriving late, leaving early, or taking sick days too frequently, it's time for a turnover red flags investigation. On the one hand, employees who start significantly altering their regular work schedule may be juggling job searches and interviews with their present responsibilities. But on the other hand, they may be going through some difficult personal situations affecting their work availability. An attentive manager should initiate a conversation with such a worker to learn the reasons for these changes and then decide if he can find a solution to help the team member better manage their time.

Lack of engagement in company activities

Employee engagement is hard to fake. It can reveal if the worker is really committed to the company, its mission, and goals or whether he's about to walk out that door and never come back. Advisors who avoid taking part in long-term projects, don't contribute during team meetings, or seem uninterested in career growth prospects demonstrate poor engagement and raise a red flag for an upcoming resignation. 

Decreased productivity

When your employee suddenly starts to deliver shoddy work or skip deadlines, it can signify that he is beginning to pack his things. Everybody has rough days occasionally, therefore you should approach this subject delicately to identify the root of the problem. However, any behavioral changes that indicate 'presenteeism' — a phenomenon where employees show up for work but aren't fully present — are hazardous signals.

Appearance changes

Did you notice that a financial associate who usually wears casual jeans and a t-shirt has put on a suit, tie, and a polished pair of shoes? It may indicate that he is interviewing in other companies after work or during lunch breaks.

However, the opposite scenario is also possible. When a person is dissatisfied with his present position, he may start dressing worse since he believes "no one cares anyway."

Isolation from colleagues

When sociable and outgoing workers unexpectedly distance themselves from coworkers, this can also be another red flag. One of the most challenging aspects of leaving a workplace is breaking habits and saying goodbye to colleagues and coworkers. Therefore, if you observe some of your staff withdrawing and becoming reticent, they may be ready to quit.

Avoiding direct managers

Top-performers who consistently provide above and beyond for their financial services organization value their working relationships with their boss and are loath to disappoint them or be compelled to tell white lies. Therefore, avoiding the boss is a huge red flag showing that the employee is seeking a new job.

Different reactions to conflicts

As people prepare to leave, they may change their approach to conflict. Those employees, who previously were inclined to back off and temper their ardor, now may not retreat when they find themselves in a conflict at work, as they don't feel it's worth biting their tongue. Instead, they get to experience an emotional release. Ultimately, it results in an employee who was more accommodating earlier, that turns confrontational due to frustration or resentment.

Workplace preparation

Of course, taking inventory, sorting documents, signing folders, and sorting files on a computer is not something supernatural for an excellent worker. But when regardless of his normal daily performance, the financial advisor allocates lunch or after-work time to clean up all areas of his job and "tie up loose ends" on old projects, that may mean that he’s planning on walking out the door after setting the stage for a future replacement. This process serves two purposes: not to let the company down and to keep his own reputation high. Also, pay attention to taking personal items out of the office one by one – a sure sign of emotional detachment.

Cold, emotionless behavior

Associates who are about to leave may stop using their sense of humor and become colder and aloof in the workplace. Their demeanor becomes more direct and practical rather than friendly and fun. One of the possible reasons is that they worry less about looking responsive, building mutually beneficial relationships within the team, or trying to impress anyone.