Employee turnover has been slow the last two years, said Michael Haid, senior vice president for talent management at Right Management, and results from the latest Manpower Employment Outlook Survey suggest hiring will continue to be slow across a broad spectrum of industries. Low employee turnover combined with slower hiring can slow career growth.
Employees are starting to get anxious because they feel stuck in their jobs and have little opportunity for career growth. The lack of career progression can contribute to job dissatisfaction and lead employees to look for new positions.
If employees are looking, what are they looking for in the next job? That question was posed to 561 North American workers in a recent survey by Right Management .
The survey found employers would do well to develop an awareness of what attracts employees and keeps them motivated to stay in a job. The survey provides insight into what employees are looking for in their careers, and if employers pay attention to these issues, they may be able to prevent top talent from leaving.
The No. 1 reason people are attracted to a workplace is not compensation or a less-pressured work environment, it is the opportunity to develop a career path. Even with the increased pressure of doing more with less, employees want career growth.
Working for competent management teams with bosses who are considerate was tied for the No. 2 spot with a flexible work environment. A competent boss who cares was rated higher than greater compensation and less work pressure.
While opportunities for advancement is the primary factor that motivates employees to stay, employers also need to consider the need for recognition. Leaders who take the time to express appreciation and convey a sense of recognition to their employees tend to retain their top talent.
The employer who communicates his vision for the company and invests in employee development also helps staff members stay motivated. That’s because communicating growth helps employees feel they are moving forward and not just stagnating in their careers.
Employees are attracted to bosses who treat them with respect. Being considerate goes a long way in making up for long hours and less pay when times are tough. Giving people the benefit of the doubt and recognizing how their contributions count is always a win. People respond to those who treat them as individuals.
Top employees have an inner drive to succeed, and employers can encourage this by giving them “stretch assignments” that help them acquire new skills and experience. Other things that help keep talented workers motivated include mentoring programs and project variety.
How employees are treated and the way they are included in daily routine of operating a business leads to less turnover and stronger teams. Employers need a stable workforce, and responding to employees’ needs with simple courtesies goes a long way in retaining a productive team.
The notion that employees don’t leave jobs because they dislike a certain industry but because they don’t feel valued and lack opportunity is a concept worth remembering.
Outside of compensation, what keeps you staying with your employer?
