What Keeps You From Quitting?

What Keeps You From Quitting? Top 5 Reasons for Voluntary TurnoverPosted by Aoife Gorey on Wed, Jul 24, 2013 Author: Robert Bullock What do you think is the most common reason for voluntary turnover? Poor relations with managers? How about inadequate pay? Surprisingly enough, the number one reason given by employees is neither, according to the results of a large Gallup study (over 10,000 business units). The survey included data from thousands of employees across multiple industries. The results showed that business leaders often fail to understand why their employees leave. While most managers are quick to point the finger at salary, only one in five employees cite pay and benefits as their reason for quitting. So why are employees quitting their jobs in such a difficult economy? According to Gallup, the top 5 reasons (with percentage agreement) for voluntary turnover include: 1. Lack of Opportunities for Career Advancement (32%) 2. Pay/Benefits (22%) 3. Lack of Person-Job Fit (20%) 4. Issues with Management/Work Environment (17%) 5. Flexibility/Scheduling/Work-Life Balance (8%) Growth & Development Looking at this list should make one thing very clear: employees need opportunities to grow. People do not reach a point in their life where they stop developing. Human development occurs throughout the lifespan, which is why employees who become stifled, stunted, or stuck in their jobs are the most likely to find different work. Although a paycheck is a powerful motivator, it is not the only reason employees come to work day after day. Providing developmental opportunities for employees will have numerous positive outcomes beyond reducing turnover (for a blog on employee development ideas and outcomes, go here). Based on these findings, focusing on the following themes can have a dramatic impact on retaining key talent and reducing voluntary turnover:  Growth and Development (e.g., stretch assignments, job rotation, mentoring programs)  Dealing with Stress and Burnout (e.g., coping mechanisms, work/life balance initiatives)  Employee Engagement (e.g., collaborative decision-making, continuous improvement initiatives)

How do you develop your team? What keeps you from quitting?