What would you do if you came to work tomorrow and over half of your staff gave their notice? According to an article I just read in Forbes, 60% of employees are currently looking for other opportunities and 66% of them are disengaged. That’s significant!
The jobs outlook is improving, but it hasn’t returned to the days of it being a job-seeker’s market. This might lead some employers to falsely believe that their employees won’t leave. As the Forbes article shows, this couldn’t be further from the truth.
We’ve shared a few posts related to employee engagement and how to improve employee retention, but are you really aware of the reasons that are driving your employees to leave in the first place?
When you ask an employer why they believe an employee left, most will say because of better compensation or benefits. However, a recent study asked 20,000 individuals who quit their jobs why they left—88% of them left due to reasons other than compensation.
So why are they leaving? Here are the top three reasons from the study:
Turnover is costly, and while some is unavoidable, it is best to minimize it as much as possible. Make sure you are nurturing your talent and keeping them optimistic about their future at your company. If you don’t, someone else will!