Why they Leave !
Posted on 23/02/2017 by
According to a recent survey from Glassdoor, the most popular reason for employees to start looking for a new job is that they want a higher salary. 35% of the 1,139 UK employees surveyed, cited wanting a higher salary as their main reason to resign.
The interesting results of the survey are summarised in an article in the HR Grapevine.
These results should be of great interest to the Directors and HR Managers of businesses, especially with the skill shortage of Engineers in the HVAC industry. Surely we don’t want to spend time and effort and expense on attracting and hiring people, only to lose them for reasons that we can actually prevent.
Jon Ingham is a Career and Workplace Expert at Glassdoor. He says: “Understanding what causes employees to leave a company is beneficial to both the jobseeker and the employer."
“For jobseekers, this survey in particular, offers an important reminder to research a company before applying or accepting a job offer to understand what keeps current and even former employees satisfied and what would or did cause them to resign.
“For employers, understanding reasons for resignation both across the UK, at competitors and within your own company can help in evaluating and improving recruiting and retention figures.”
It’s really about reducing the risk of making erroneous hiring decisions and reducing the risk of losing good people. It will happen, but you want to keep chipping away at the numbers. Understanding why employees leave and why they become dissatisfied will help in managing this risk.
Constantly monitoring that your salaries are market benchmarked should be a 6 monthly process. The consultants at TSI tell me that some companies are behind in this process. This will only hinder your ability to take on quality candidates as well as increase your risk of losing good people as shown by this survey. Double whammy!!
Interestingly, it might not actually be more money that the person is looking for. Another survey by Glassdoor showed that perks also rate highly on employees value scale. See below for ideas.
Another excellent article on how to ensure long time hires is here.
UK employees top reasons for resigning :
Low salary (35%)
I’d been there a long time and needed a change (23%)
The role was boring (22%)
job location / length of the commute (20%)
I didn’t get on with my boss / line manager (14%)
Didn’t like the culture (14%)
Poor benefits (13%)
Wasn’t confident that the company was heading in the right direction (11%)
Didn’t get on with my colleagues (9%)
Types of Benefits / Perks valued more than pay rises :
*Healthcare insurance (e.g : medical, dental): 40
* Vacation / paid time off: 37%
Performance bonus: 35%
Paid sick days: 32%
retirement plan and/or pension: 31%
Flexible schedule (e.g : work from home): 30%
Office perks (e.g : free lunch, casual dress): 19%
Employee development programs (e.g : on-the-job training, professional development): 19%
Tuition reimbursement: 18%
Employee discounts: 17%
Gym membership / wellness programs: 16%
Stock, stock options and/or equity: 16%
Paid parental leave (e.g : maternity leave, adoption assistance): 13%
Child care assistance (e.g., on-site childcare, financial assistance): 13%
Commuter assistance (e.g., company shuttle, commuter checks): 9%
Diversity program: 3%