According to
the “Employee and Retention Report” provided by the Achievers Workshop
Institute in Feb. 2021, following are the top reasons that employees consider
leaving their jobs:
- 36% - Better compensation and corporate benefits
- 25% - Better work life balance
- 16% - Lack of recognition for their work
- 8% - To find a better Corporate Culture
- 5% - Current company values don’t align with theirs
- 5% - Lack of strong relationship with peers
- 5% - Don’t know.
Companies will
always be looking at compensation and corporate benefits to develop budgets
designed to attract top talent and maintain your industry position. But except for this #1 reason above, the rest
of reasons are subjective. And these
make up almost two-thirds of the reasons employees consider leaving. These will require an in-depth evaluation of
where your company stands in comparison.
When you do, be
as transparent and honest in your appraisal as you can. After all, your best employees could be at
risk. Ask yourself some very elementary
and candid questions about this 64%. And
remember, that because you are in upper management, make sure you put yourself
in your employee shoes. Example:
thinking you have a state-of-the-art recognition system, doesn’t mean much to
an employee who doesn’t feel recognized.
