New #1 Reason Employees Quit
Until a couple years ago, the #1 reason employees left was: burnout from a long commute. They switched for a job with a shorter commute, or enabling them to work from home.
Now that remote work is becoming increasingly prevalent, employers face a different challenge in retaining talent.
In prior posts, I underscored what employees value most:
• Work-life balance
• Fairness of compensation
• Work culture
• Appreciation for their work.
However, the new #1 reason employees quit is: LACK OF GROWTH POTENTIAL or GROWTH TOO SLOW.
This is the most common answer I hear when asking: “Why are you open to making a move from your current employer?”
And it is understandable: the higher you are up the corporate ladder, the less spots available. There can only be so many Directors, VPs, and C-level executives.
But all too often a Sales Director would tell me they’ve been in their role for 7 years and are ready to become VP… but the current VP isn’t going anywhere.
A workable solution? Stay in communication, especially with key people you can’t afford to lose. Work out a career growth plan with timelines and milestones showing a clear path upward within your organization. This will help keep them loyal and motivated.
Dynamic Search Consulting (DSC) is a boutique executive search firm operating nationally from the Silicon Valley, in San Jose, CA. Give us a call if we can be a resource for your next executive search.