There are a number of reasons for high turnover in organisations. Most of these reasons, however, are derived from the fact that employees feel like they are unable to grow personally and professionally on their career path. Think about these stats-
Over 70% of “high-retention-risk” employees want to leave because they see no future advancement in the current job.[1]
When surveyed, 76% of employees who don’t feel valued at work are seeking other job opportunities[2]
In a global study, 60% of millennials have worked at 2 to 4 different companies, and 43% of them feel like their company only cares about profits.[3]
This is just a peak into the huge pool of data available to understand what it is that prompts one to quit, and this is not to say that these are the only reasons accountable for employees quitting their jobs; this is a reflection of lack of development in one’s workplace.
1. Not Advancing in Your Career
Progress is not about completing day-to-day tasks or mechanically completing goals that match your job profile. If that is often all one does, employees feel that they are not developing professionally or learning new talents.
2. Getting a Better Offer!
Employees may also leave their current jobs when they are given a better pay structure of bonuses, benefits and salary, or even a different, or preferable work arrangement. Moreover, it could also be the result of being offered a higher position.
3. Needing a Challenge!
Working monotonously can hamper productivity as well as loyalty of the employees towards an organisation. When the learning curve reduces, the need for a challenge becomes important to one’s job.
4. Need for Personal and Professional Growth
Investing in your people through different training and activities can give them opportunities to develop both personally and professionally. The lack of growth is a major factor in effecting the decision to leave.
5. Lack of Recognition
One may look for a job where they feel like their efforts are valued more, especially if they feel replaceable at their current position and organisation. It feels fantastic to know that their effort matters and has an impact on the company's performance. Recognising and appreciating employees boosts confidence and makes them feel worthy.