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Top 5 reasons good employees quit

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Why do the folks in charge of the company treasure quit their jobs? Not enough money, what else? But that’s just the most often cited reason, and giving good people a richer compensation package isn’t the solution to stemming the flood of top talent going out the door.

That’s what Robert Half, the staffing firm, found when it interview 2,100 CFOs from around the United States. Robert Half also got input from 300 rank-and-file employees, and found that they too tend to leave due to money — even more frequently than do the CFOs.

But it’s not all about money, the survey revealed. A blocked career path leads to many voluntary exits, as do disagreements with the way the folks in the C-Suite are running the show.

Robert Half posed the following question to the CFOs and rank-and-filers:

Which one of the following is most likely to cause good employees to quit their jobs?

Here’s the breakdown by CFOs and rank-and-file, respectively:

Armed with these results, Robert Half helpfully offered some advice on how to address these factors in the loss of key talent.

door question

1. Absence of a career path

Employees need a career map, one that will give them confidence that management has big plans for them. “Work with staff to identify potential advancement opportunities and the resources needed to pursue them,” RH advises.

football

2. Lack of training

Once you’ve given employees a career laded with real rungs, provide the training they’ll need for each step up. This isn’t one-size-fits-all: guidance should be customized. Skill-enhancing tools, mentorship opportunities and continuing education should be on this menu.

achievement

3. Failing to customize recognition 

As with preparing someone for a role in the company’s future, recognizing them for their achievements needs to be customized. Not everyone responds positively to the same rewards. “Offer rewards and incentives that your staff will value and personalize them to the individual as much as possible. Also, make sure to say, “Thank you for a job well done.” The value of the simple phrase is often overlooked.

listening

4. Forgetting to listen 

Communication is a one-way street at too many workplaces. Open the listening channel, and find ways to get honest and regular feedback from employees about their preferences, what motivates them, and how they’re feeling about management. “Employees may leave because they feel they do not have a voice in business matters,” RH says.

track

5. Not tracking retention 

What gets measures gets noticed, so measure the quit rates of your employees. Don’t think of it as tracking something negative — retention is all about understanding what works and what doesn’t. “If your company doesn’t measure its employee quit rates, and which managers are better at retaining staff than others, the situation likely won’t improve. Identifying managers who retain their best people — and those who don’t — can help the business understand what makes a good leader and provide coaching to those who are falling short,” RH says.

See also:

Say it with cake: The new ways of quitting

Top 10 attributes of ‘elite’ retirement advisors