A recent survey by Right Management asked over 1,000 people why they voluntarily left their jobs. The percentages don’t add up to 100 because many respondents provided more than one answer.
54% Downsizing or restructuring
30% Sought new challenges or opportunities
25% Ineffective leadership
22% Poor relationship with manager
21% To improve work/life balance
21% Contributions to the company were not valued
18% Better compensation and benefits
We can gather a few helpful ideas from these results:
- In an unstable economy, employees are looking for a place where they won’t be constantly worried that they’ll be the next to get laid off. If your company is currently in a stable position, emphasize that fact to current employees and new hires.
- Leadership matters. One of the top reasons employees have always given for job dissatisfaction has been dissatisfaction with leadership. If you experience high employee turnover, first look at your management.
- Employees want to love their workplace. If employees love coming in to work every day, they’ll stay with you even through hard times. To improve employee morale, give your employees jobs where they can best use their individual talents and show them how much you appreciate them when they succeed.
- While compensation matters, so do benefits. If you aren’t able to offer your employees large salaries, they’ll still greatly appreciate benefits like free food, time off and small rewards.