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People leave jobs for all sorts of reasons. It’s beneficial to form solid long-lasting teams that can grow and work together. In order to do that, it’s important to consider how to retain good talent by analyzing what causes employees to change jobs in the first place.
Data shows there are five major reasons employees make a career change.
- Career Opportunity
- Compensation
- People/Management
- Growth/Development
- Recognition
Career Opportunity — Sometimes people leave because long-term career opportunity is limited or nonexistent in their current role. One doesn’t necessarily have to move up the corporate ladder to feel fulfilled, but some degree of title advancement can be enough to boost satisfaction by almost 20%.
Compensation — Money talks. It’s no surprise that an employee who feels they’re underpaid for the time and talent will find the door. While the number of a comfortable living will vary from person to person, employees are typically happy with a competitive salary or one that matches average wages for like positions in their area.
People/Management — Poor leadership often leads to a loss of good team members. Companies tend to promote those that excel in their positions but may not have management, team building, or general people skills. Dissatisfaction with management is a common reason for leaving a job.
Growth/Development — Certain people are very good at tedious or mundane tasks, but most crave an opportunity to gain new skills, learn new things, and develop their chosen trade. Without growth, someone who feels stagnant in their every day might start looking for the exit sign.
Recognition — Acknowledgment goes a long way. While monetary raises and awards are a tried and true motivator, sometimes simple gestures such as a tip of the hat from a direct supervisor or an honorable mention during a team meeting can go a long way in making an employee feel their job is worthwhile.
Infographic Source: https://www.7pace.com/blog/why-employees-quit-infographic/
