Thursday, April 3, 2008

Employee retention: Why employees leave

Employee retention is at the top of most business executives’ priorities this year. More than 80 percent of business executives consider employee retention a top priority in 2008, according to the annual Employee Turnover Trends survey by TalentKeepers.

Before you ask about the best way to retain employees, first discover why they are leaving.

The main reason why employees consider leaving jobs is because they don’t see opportunities for advancement at their current employer, according to a recent SHRM survey of North American workers.

One third of those surveyed cited lack of career development as the most important factor when considering moving on to a new employer.

Other top factors for leaving, according to the survey:
  • Desire for change
  • Unsatisfying work or work that doesn’t make the most of their talents
  • Desire to earn more money
  • Job conditions (commute, lack of flexible schedule)
  • Dislike of manager
  • Dislike of colleagues

Factors that influence an employee to stay:
  • Enjoyable work
  • Significant development or advancement opportunities available
  • Good job conditions (good commute, flexible schedule)
  • Belief in organization’s mission
  • No desire for change
  • Expect desirable salary, bonus or stock option in the coming year
  • Commitment to manager
  • Economy, no opportunities elsewhere

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