Why do employees leave their jobs? Shannon Bayer from SHRM recently shared insights at SHRM24, drawing on data from over 11,000 surveyed employees worldwide. The top reasons for leaving a company include inadequate pay, poor management, and lack of career growth. But how can workplace leaders turn this around? Top 5 ways to improve workplace culture: 1. Equitable leadership practices - Fair evaluations & appreciating unique backgrounds. 2. Career fulfillment - More growth opportunities within the organization. 3. Respectful interactions - Stop managers’ inconsiderate behavior. 4. Work/life integration - Reasonable workloads for balanced lives. 5. Better manager communication - Open, candid conversations & employee input. What initiatives has your company implemented to support employee retention? https://bit.ly/3L66qL9 #WorkplaceCulture
I think this is a really exciting topic because it is a definite moving Target as we have seen the shift and trending it over the last 3 to 5 years it has changed dramatically. We continue to follow it and post it within our updated recruitment advertising deck annually and it's fun just watching how the needle changes in terms of reasons talent really leave their jobs? Back in the day people left because I just simply wanted to earn more money but flipping the question on its end it's kind of exciting to see what keeps talent and why does talent in large part want to stay. And it's surprising to me to hear talent saying that they want to be a part of a work that's bigger than them where they can really bring an add value and that the organization is something that they believe in. Surprisingly but maybe not surprisingly it's really not all about the money.
This article really hits home for us! Focusing on equitable leadership, career fulfillment, respectful interactions, work/life integration, and better manager communication are key to creating a positive workplace culture and retaining top talent. These are the exact strategies we strive to implement at Mentorink. Thank you for sharing these valuable insights!
Very true...mising one of these elements is destructive for companies small or large, it creates a toxic company culture to organizations, it creates work disconfort, unsafe psychological thinking emotional stress, work anxiety and lost of nterest lost in their jobs.
Over the years at Intel we've learned that when you ask people why they are leaving they have a tendency to cite pay but that's not really the trigger, even though they might have increased their pay with the move. Issues around management practices were usually higher up on the list. These days it seems that autonomy, flexibility, hybrid work are also on the list. All the trends are suggesting we are on the cusp of a new paradigm for work, where past responses will not indicate future expectations. One of my recent columns talked about the changing expectations of people looking ahead to 2030 and a Human-Centric workplace.
It can't agree less. It is said "Leadership is effect, all other things is effect". Poor leadership and management affect employees performance and job satisfaction. Spot on! Everyone aspire to grow in their endeavour be in academic, health, work and the more one becomes stagnant, they feel less important thus leave to where they would be appreciated. Treat your workers like how you value your remuneration as a boss.
Thank you for sharing these valuable insights from Shannon Bayer and SHRM. It’s evident that addressing core issues like inadequate pay, poor management, and lack of career growth can significantly enhance employee retention. At our organization, we've implemented several initiatives to foster a positive workplace culture: Transparent Salary Reviews: Regular assessments to ensure competitive and fair compensation. Leadership Development Programs: Training managers to lead with empathy and inclusiveness. Career Pathing: Clear and attainable career progression plans for all employees. Flexible Work Arrangements: Encouraging work-life balance through flexible schedules and remote work options. Feedback Culture: Regular, open dialogues between employees and management to ensure everyone’s voice is heard. By focusing on these areas, we've seen a marked improvement in employee satisfaction and retention. What specific strategies have you found most effective in your workplace?
All great suggestions. More often than not, I think that challenge is getting the leadership team to see that there often themes when team members depart and not every departure is unique. I think I popular opinion at many companies is: "that employee was going to leave anyways" or "there is nothing we could have done to save that person". The reality is, being proactive and implementing some of these suggestions in advance would prevent turnover before it happens.
Good to know! Employee retention is crucial for companies as it ensures a stable, experienced workforce, reduces recruitment costs, and maintains productivity. Effective retention strategies can significantly impact a company's success and growth.💥💥
I work with CEOs, CHROs and Senior L&D Executives to develop Team Leaders and Managers to get their teams to start working like team. I reduce team conflicts, improve collaboration, creativity and increase retention.
1wThe challenge is not understanding why they leave but creating a culture of inspiring leaders that are talent magnets who team members want to work for. The concept is simple. The execution consistently is where the rubber meets tbe road.