One of the best things you can do for the future of your company is to assemble a great team and provide them with competent management. Easier said than done it seems. I can be a challenge to find those employees that will be the right fit for the culture you have established and who have the skills you need. In addition, history has shown that most businesses, regardless of size, consistently choose people to manage who have never managed anything in their lives. So, much of the time, middle management is an absolute disaster in many companies. So, why are people leaving companies in droves? In some recently published research released by the US Chamber of Commerce, the reasons seem myriad. The following is taken directly from their published report:
- The Pew Research Center study found that low pay wasn’t the number one reason employees quit — it was actually tied with a lack of opportunities to advance. Other research has found that employees often quit due to a lack of career growth as well. For instance, studies conducted by the Harris Poll and Global Talent Monitor found that employees often leave due to a lack of career development. According to the Pew study, 57% of Americans quit their jobs in 2021 because they felt disrespected at work. And 35% of those surveyed highlighted this as a major reason for quitting.
- Similar to the point about childcare, many people are quitting their jobs due to an overall lack of flexibility. For instance, the Pew study found that 45% left because they felt they didn’t have enough flexibility to choose their working hours. A desire to work remotely has been another sticking point for many employees. Gallup found that 37% of employees would switch to another job that allowed them to work remotely at least part-time.
- Hays surveyed 2,000 employees looking for a new job and found that company culture was one of the main reasons. In fact, 71% were willing to accept a pay cut for the right cultural fit.
- Burnout is a big problem for many workers, causing them to quit in record numbers. Limeade surveyed 1,000 full-time employees who started a new job in 2021, and 40% left their previous jobs due to burnout. And 28% of employees left their jobs without securing another position due to burnout.
- For many employees, the job or the company isn’t the problem — it’s the person managing them. A Gallup study found that one in two employees have left a position to get away from a bad manager. An employee’s relationship with their manager can significantly affect their productivity and overall engagement.
-Written by Kevin Sawyer
SearchPro Systems
2024