Home Efficient Business Why employees leave and how to keep them

Why employees leave and how to keep them

Employee turnover creates tremendous risk—resources are lost in recruitment and training, productivity lags with insufficient staffing, intellectual property can be exposed, and no company wants to get a reputation as a place where no one can stay very long. Further, the implications for workers comp, lawsuits and insurance extended to employees can cause headaches long after a desk has been cleared out.

Why do they leave?

An “exit survey” conducted by LinkedIn in 2014 among members from five countries found that top reason workers left their jobs was because they wanted greater opportunities for advancement. In a related study from the social network, the number one reason employees who were not actively seeking a new job would be willing to leave was for better compensation or benefits. Regular performance reviews and assessments that open up opportunity for advancement in both responsibilities and salary can help keep employees engaged—and prevent feeling they have to go to stay on top.

Why New Hires Quit

One in six employees quits a new job within six months — According to TIME Magazine, 15% either make plans to do so or quit outright within that time frame. HR software company Bamboo HR found that the primary factor was “onboarding problems”—in other words, HR or managers are failing to properly orient new hires and integrate them into the workplace. This may seem frivolous, but they could have reason to feel this is a fatal flaw. Research shows that there is only a 90-day time frame for settling in. If your new employee is not caught up to speed by then, you may see them walk out the door.

Getting Employees to Stay

CareerBuilder surveyed thousands of workers recently to gain insight into why they decide to stay or go. Of those who plan to stay at their jobs, the top reasons they did not want to leave included: liking the people they work with (54%), having a good work/life balance (50%), being satisfied with the benefits package (49%), and feeling happy with their salary (43%). Of those who are unhappy, however, 58% said they plan to leave in the next year.

The response to the survey by LinkedIn also revealed the following:

For the employed professionals – what would convince them to change employees include:

Better compensation/benefits

Better work/life balance

Greater opportunities for advancement

 

For professionals who recently changed employers-What compelled them to change employees?

Better compensation/benefits

Greater opportunities for advancement

Better Leadership from senior management

Ensuring these bases are covered is an employer’s strong step to keeping its talents on their desks.

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