Why do workers choose to stay or go? Research reveals two primary drivers of behavior:
1. Practical elements of a job (such as pay, commute and paid time off), and
2. Personal experiences (such as interpersonal relationships and engagement).
58% of workers say that they'd stay at jobs with lower salaries if that meant working for a great boss.
Employees leave for practical reasons that affect work-life balance:
- 46% consider leaving their jobs in the next year to join the gig economy
- 64% would consider leaving for opportunities in better locations
- 82% expect pay raises every year to stay with their current employers
- 63% won’t consider job opportunities with less than 15 paid vacation days annually
- 36% are considering leaving their job because they aren’t able to work remotely
Workers who leave for reasons tied to negative personal experiences are often related to poor workplace culture:
- 59% feel their companies view profits as more important than how people are treated
- 60% left jobs or considered leaving because they don't like their direct supervisors
- 53% left or considered leaving because their employers don't recruit or retain high-performing individuals
Workers aren't happy unless they're reaching their fullest career potential:
- 58% of workers say their companies don't have enough growth opportunities
- 69% would be more satisfied if their employers better utilized their skills and abilities
- 57% say they need to leave their current companies to take their careers to the next level
Environment and reputation can also be deal-breakers:
- 38% of workers want to leave their jobs due to a toxic work culture
- 58% left jobs, or are considering leaving, because of negative office politics
- 46% are leaving because they say their teams/departments are understaffed
- 86% would not apply for or continue to work for a company that has a bad reputation
- 65% would likely leave if their employers were negatively portrayed in the news or on social media because of a crisis or negative business practices
Why Don’t Employees Leave?
- 54% of employees (both men and women) feel pressure to stay at jobs they don't enjoy because they are the primary financial providers for their families
- 71% stay in their current jobs because it's easier than starting something new
- 78% say their benefits packages are as important as their salaries in keeping them at their current employers
- 56% don’t consider other job opportunities because they'd have less paid time off
"Today's workers have high expectations—and the tight talent market suggests employers should be listening closely," said Jim Link, chief human resources officer of Randstad North America. "While salary and PTO will always be factors in attraction, engagement and retention, the intangible benefits and day-to-day experiences at work have risen in importance.”
After all of these great statistics, you may be wondering what your employees think about your workplace culture. CEA can conduct an employee engagement survey to help you find out what your employees are thinking. Small changes on your part could make a world of difference to your employees!
Source: Randstad U.S.