Is voluntary turnover at your business high? Then it’s time to get a handle on why good or best people leave their jobs. You may be amazed at some of the reasons.
Employers’ perception of why people resign can differ markedly from reality. This gap, if not handled, leads to big levels of voluntary departures. It’s hard to fix a problem if you don’t know what’s reason it.
Top 5 Reasons People Resign from Their Jobs
A latest Canadian analysis of over 1,850 employees acknowledged the top five reasons that people quit. Not unexpectedly, money heads the list. But lack of confidence and integrity are also right up there. Here is the top finding on why people resign:
- Mostly insufficient pay or unfair pay scale practices
- Lack of honesty/integrity/ethics
- Lack of trust in senior leaders / management
- Lack of work-life balance
- Unhealthy/undesirable organization culture
Most Top Five Reasons
Employers Think Their People Resign
Employers agree with employees that the primary reason for voluntary departures is financial / salary concerns. Later on, however, their answers move away on several important factors. Evocatively, managers seem to lack knowledge of how important an ethical and trustworthy work atmosphere is. These are top reasons employers cited when inquired why their staff has resigned:
- Insufficient pay or unfair pay practices
- Unmet individual goals and dreams
- Excessive workload in the company
- Unexpected job/career opportunity
- Lack of feedback or reward and recognition
The Trust and Honesty Gap
Employers are no hesitation right that excessive workload and lack of feedback put in to an employee’s departure. More than that, though, an unethical or unreasonable workplace drives people to leave.
How is it that employer unsuccessful to mention sincerity or integrity in their top five reasons employees bail? Maybe supervisor assume their people are more concerned with unmet personal goals and dreams. Or trust their staff isn’t all that worried when decision making transparency fades to black.
You can reduce this confusion by ensuring that fairness is practiced across the board. People who lie and cheat should face penalty instead of being rewarded. Also, avoid the perception of unfairness by eliminating things like ageism or favoritism.
The Gap of Grass Being Greener Elsewhere
47% of the supervisor / managers and HR professionals surveyed said their departing employees were motivated more by the attraction of an outside opening than by their unhappiness or desire to leave. In reality that’s not necessarily true.
In excess of a third of parting employees said they were motivated more by their sadness than by the attraction or availability of an outside opportunity. So don’t think that your employees will continue no matter what if the economy is bumpy.
Replacing Good Employees Is Expensive
There is survey results back the fact that employee turnover affects your base line," and “What’s extra is the cost of replacing an employee is estimated to be between 75% and 200% of the employee’s annual reimbursement.”
That’s a high price to pay for not considerate the needs of your staff. Knowing more about why they really leave gives you a chance to put into place healthier retention strategy
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