The days where employees remained at a company as ‘lifers’ is long gone. According to a November 2014 CNN report, Americans are quitting their jobs voluntarily and moving on to other positions at the fastest pace since early 2008. Many people are feeling confident that there may be a ‘better’ job out there or already may have an offer in hand, giving them the confidence to leave their current jobs.
So – what are the top 4 reasons that people leave their jobs for other positions?
Reason #4- Better work-life balance
Many people are simply facing burn out from working long hours, long commutes, and very little vacation and time away from the office. With emails and voice mail constantly lighting up our cell phones, it is difficult to completely disengage from work at the end of the day or when on vacation. With that in mind, it is critical to discuss work hours and ‘after hours’ expectations with your boss with an understanding that some personal and family obligations are necessities and come first. Being allowed to work from home on certain days in order to avoid a long commute goes a long way to employee satisfaction. Ultimately, the companies that allow flex hours, working from home, and a generous amount of paid time off are attracting and retaining the top talent.
Reason #3 – Better Compensation
With multiple salary analysis reporting services and tools available via the internet, many employees now have easy access to the industry standard base salary for their specific job title and function. With this information readily available, you can easily determine if your current base salary and bonus is on par with the industry standard. Employees that have been working in the same position for a company year after year without a promotion may be stuck with stagnant wages and can easily fall behind their fair market value. Knowing that their skills and experience are worth significantly more at other companies, propels many employees to leave their job and move on to other employers who are providing competitive pay.
Reason #2 – More challenging or Interesting work
I mentioned in Reason #4 that burn out was one of top reasons people leave their job, Ironically, the opposite of burn out – either boredom or non-challenging work is another key reason people seek other opportunities. People often have aspirations of gaining specific experience or a new skill set, when they take a job, and that does not always come to fruition. A new position that affords someone the opportunity to accomplish their career goals or learn a desired skill is often the bait that will lure an employee into another position.
Reason #1 – Bad Manager or Supervisor
Studies continually show that while monetary compensation and challenging work are extremely important to retain top talent, and may even be the first answers given in an exit interview, it is rarely the primary reason for leaving a company. The number one reason that people leave their jobs is due to a bad manager. Simply said, people quit their boss, not their job. In spring 2015, a Gallup study found that approx. 50% of the 7,200 adults surveyed left a job to get away from their manager.” Another recent poll conducted by Randstand indicated that 8 out of 10 of employees believe that their relationship with their direct supervisor had the biggest impact regarding how happy they were in their job.
While employees leave their current jobs and companies for a variety of reasons, the reality is the company ultimately failed to retain them. If you find yourself unhappy in your current job, accept that you may need a change and commit to doing research for an exit strategy. Start networking and set your sites on a targeted job search that will lead to a more rewarding and fulfilling position.
Take advantage of our complimentary salary analysis to determine whether or not you are offering the right salary to your new/existing employees. With salary being a top reason for job change, your company can’t afford losing top performers and starting the job search over again. This service is complimentary, we’re happy to help.
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