Are you about to lose valued workers?
Recent reports have indicated a number of employees intend to at least look for a new job this year — and some may pack up and head to a new employer.
One survey, conducted by Achievers, suggests as many as two-thirds of employees may leave their current company in 2020.
Do you know what factors could be influencing your employees to think about switching to a new employer — and how to convince them to stay?
Consider the following concerns, which might cause workers to think about jumping ship:
Lackluster employee satisfaction
The Achievers’ survey found employee disengagement is considerable. Just 19 percent said they considered themselves to be very engaged at work; 14 percent of employees are fully disengaged — and even the 32 percent who rated themselves as having an average engagement level said they’d be open to new job opportunities.
Employees mentioned lack of recognition and a desire for career growth as specific factors that would prompt them to potentially leave.
An unsupportive company culture
One in five workers say they’re looking for friendly colleagues in a new job; and two out of three are seeking better work-life balance, according to a recent Investors in People survey — which also found 10 percent more U.K. employees are unhappy at work than last year.
Multiple research initiatives have identified bad managers as one of the top reasons why employees leave their jobs. More than half of U.S. employees said they’d think about working for a new company because of one.
Impediments to personal growth
More millennials (49 percent) said in Deloitte’s 2019 survey that they’d quit their job if they could in the next two years, compared to the amount who felt that way in 2018 (43 percent).
As the researchers noted, that threat isn’t necessarily unfounded. The 2019 survey indicated about a quarter of the respondents who’d said in the 2017 survey they might leave within two years had indeed left their employer in the past 24 months. The top catalyst respondents cited? Dissatisfaction with pay and financial rewards, followed by a lack of opportunities to advance and a lack of learning and development opportunities.
For more information about managing employee turnover and retention, view our blog posts on three of the worst ways to retain employees, unexpected employee happiness threats, how to improve work-life balance for employees and employee training that’s far from basic.