A recent survey found that 52% of 2,000 employees plan to look for a new job in 2021, a 35% increase over a year earlier. To prepare for the turnover tsunami, it’s important to understand why people are leaving:
- 36% say they want better compensation and corporate benefits.
- 25% are looking for better work-life balance.
- 16% are frustrated by lack of recognition for their work.
- 8% are seeking a better corporate culture.
- 5% say their current company’s values don’t align with theirs.
- 5% lack a strong relationship with their peers.
- 5% say they are considering a job change but don’t know why.
Want to keep good people? The study authors suggest using stay interviews and not exit interview, offering customized accommodations (such as childcare or elder care help), and communicate frequently so you understand why employees stay or leave.