Why Employees Quit (and How to Stop Them)
Given the current state of the economy, people who are fortunate enough to have jobs are holding onto them. Unfortunately, it’s the best performers who are most likely to leave; the others—the ones you hope will leave—sometimes hang on forever.
As this infographic shows, employees quit for numerous reasons, and you can probably add a few reasons of your own. Not specifically cited in the infographic are managers who make too many mistakes, a personality clash with a new boss, and nonstop distractions that make it impossible to do the job well, although these reasons might fall nicely under "management/work environment."
According to Leigh Brahnam, author of "The 7 Hidden Reasons Employees Leave," among the hidden reasons is receiving too little coaching and feedback. More than 60 percent of employees report they don’t get enough feedback. As to formal coaching, research suggests that while 70 percent of organizations claim they coach their employees, many managers lack coaching skills, and one study found that 43 percent of leaders were rated as ineffective as coaches.
Another reason employees leave, according to Brahnam, is feeling devalued and unrecognized. All employees deserve to be treated with respect, and all employees—including executives—appreciate being recognized. One of the reasons causing many employees to feel unrecognized is constant reorganization—the kind where none of the boxes on the organization chart are where they used to be. Companies that reorganize tend to have a poor retention rate, partly because some of those who remain decide to bail out while they stand a chance of finding another job.
According to the Bureau of Labor Statistics in January 2012, the median number of years that wage and salary workers had been with their current employer was 4.6. And according to the CEB’s Quarterly Global Labor Market research, the top five things employees will be seeking in a new job are stability, compensation, respect, health benefits, and work-life balance. This is another way of saying these are the things driving employees to seek new positions.
Note that respect—which would certainly include making employees feel valued and recognized—is new to this list. If you’re a manager, you may not have the option to give people more money, better benefits, or projects they like more. But respect and recognition are within every manager’s ability to deliver (assuming you don’t want your employees to quit).
What reasons would make you eager to stay in your current job?
