Employees quit. In fact, more than half of all people have quit their jobs. According to a recent study, 60% of workers have quit or are thinking about quitting right now.
That is not good news for your organization, especially if you already have issues keeping top employees from leaving. While every person has their reasons for making a career move, it often boils down to a few common factors – many of which your organization has something to do with – and, no, it’s not always about compensation.
In most instances, people don’t leave because of money. If this were the case, it would be a simple issue to fix. But your competitors have money, too. According to a recent survey, money was only a factor in 30% of cases. Money tends to be a sticking point in healthcare, marketing, sales, and HR.
Issues with management is another commonly cited reason people leave organizations. While it is true it can be difficult to work for a company when you don’t have a strong relationship with your manager, only 19% of those surveyed said issues with their boss was their reason for quitting.
While a lot of the talk revolves around pay disparities and boss issues, an emerging issue many professionals have with their jobs is they are boring and the hours are too long. Not a good combination.
“Nobody wakes up one morning all of a sudden bored with their job, or feeling exhausted by endless hours,” says Stacey Engle, an executive vice president at leadership-development consultants Fierce, on Fortune.
Rather, what she often sees in companies is that people quit “gradually, then suddenly. Someone’s frustration with their position builds up and builds up over time, until they’ve just had it,” she adds.
As an organization, it’s important to make sure your employees are engaged, challenged, and have access to new opportunities, especially if they are required to work long hours. Have regular conversations with your employees, have a defined career path, and put the effort into better understanding what they would like to do, how they are motivated, and how they want to make a difference. Let their voices be heard.
Failure to do so could cause you to lose top talent to your competitors.
IQ PARTNERS is an Executive Search & Recruitment firm supporting clients across the country. We help companies hire better, hire less & retain more. We have specialist teams of recruiters in Technology (IT), Accounting and Finance, Consumer Goods, eCommerce and Retail, Financial Services and Insurance, Startup, Cannabis, Big Data, B2B and Industrial, Operations and HR, Professional Services and Legal, Media, Digital and Marketing, Pharmaceutical and Life Sciences, Emerging Technology and Telecom, and Sales. IQ PARTNERS has its head office in Toronto and operates internationally via Aravati Global Search Network. Click here to view current job openings and to register with us.
Kelly is a seasoned specialist headhunter dedicated to finding and placing the very best Data Science and Big Data talent with exciting companies of all shapes and sizes in Canada, the US and Europe. After graduating from Queen’s University’s Concurrent Education program, Kelly enjoyed a brief but fulfilling career as a high school Drama teacher in London, England, before moving into the cut-throat tech recruitment industry in London in 2011.