Employee Retention Survey (Based on the results of over 250 survey responses from professionals in our candidate network.)
What Was The Main Reason You Left Your Last Job?
Top 3 Reasons
Lack of growth opportunity - 25%
Leadership/company culture - 25%
Compensation - 15%
How often did you discuss your main reason for leaving with your direct manager?
Never – 31%
Rarely – 24%
Occasionally – 30%
Often – 15%
Did you feel that you had the opportunity to speak to your direct manager about your reason for leaving before/during your job search?
No – 48%
If your main reason for leaving had been addressed and changed would you have decided to stay longer than you did?
Yes – 52%
No – 24%
Not possible to change my reason for leaving – 24%
Communication between managers and employees is critical. Over 50% of respondents would have stayed at their jobs longer had their main issue been addressed and changed. Yet, 55% never or rarely talked to their manager about their main reason for leaving and 48% felt they did not have the opportunity to do so. Better communication can also play a role in how employees feel about "leadership and company culture." It's also key to be on the same page about what "Growth Opportunity" looks like at your company. Growth may not always appear linear. But if managers can communicate with employees on how they can achieve personal and professional growth (and can align compensation with that growth) then reasons for sticking around longer become much more clear.
How long did you work at your last job?
Less than 6 months – 8%
7 months to a year – 9%
1-2 years – 22%
2-3 years – 17%
3-4 years – 9%
4-5 years – 15%
Over 5 years – 29%
How long did your job search take?
Under a month – 28%, 1-2 months – 20%, 3-4 months – 19%, 5-6 months – 16%, 7-12 months – 9%, Over 1 year – 9%
According to the results of this survey, the 2 year mark is a turning point. After 2 years there is a dip in retention. But after the 4 year mark - the retention rate starts to climb again.
48% of those surveyed secured a new job in 2 months or less. This further indicates the importance of consistent communication between employees and managers. Often there is a breaking point for someone deciding it's time to move on from a company. If a manager can be present during that "Bad Day" or "Bad Week" - it may allow them to address the main issues they're having and alleviate some of their concerns or even find a resolution.