A news release from consulting firm BlessingWhite said reasons offered by employees for staying put include:
- My Work. I like the work that I do. 30%
- My career. I have significant development or advancement opportunities here. 17%
- My organization’s mission. I believe in what we do. 11%
- No desire for change. I am comfortable here. 10%
- My job conditions. I have flexible hours, a good commute, etc. 10%
- My finances. I expect a desirable salary, bonus, or stock options. 7%
- Other (The Economy, My Manager, My Colleagues) 15%
In contrast, according to the news release the top reason employees of all age groups give for jumping ship include:
- My career. I don’t have opportunities to grow or advance here. 26%
- My work. I don’t like what I do or it doesn’t make the most of my talents. 15%
- My finances. I want to earn more money. 15%
- My desire for change. I want to try something new. 12%
- My manager. I don’t like working for him or her. 10%
- Other (The Economy, Job Conditions, Org. Mission, Colleagues) 18%
“Business leaders are right to be concerned about retention of top talent,” said BlessingWhite CEO Christopher Rice, in the news releases. “And while raises may encourage some workers to stick around, our findings suggest that employees – especially high performers — will remain in jobs that challenge them, utilize their expertise, and provide meaning.”
After enjoyable work, career advancement is the second most important retention factor in India, China, Australia/New Zealand and Southeast Asia the study found. In North America and Europe, favorable job conditions (e.g., a good commute or flexible hours) ranks second.
Although workers across generations agree on their top reasons for staying and leaving, the youngest workers (Generation Y or Millenials) place higher priority on career opportunities than they do their work. Likewise, Gen Y employees are more likely to leave in pursuit of more money. Baby Boomers, on the other hand, seek more interesting work and change (something new).
The survey explored workplace attitudes among employees on four continents and is based on survey responses of nearly 11,000 employed professionals.