Retaining Employees Requires Creation of Opportunities

In a news release, Right Management said 30% of 1,308 respondents indicated they left their job to seek new challenges or opportunities that were lacking with their previous employers. A quarter of respondents reported leaving employers because of ineffective leadership, 22% cited poor relationships with their managers, and 21% said their contributions were not valued.

“We’ve identified four critical elements to retaining top talent: having a voice in the business, receiving regular and substantive feedback, effective leadership, and career development opportunities,” said Douglas J. Matthews, President and Chief Operating Officer of Right Management, in the news release.

The research indicates employees want opportunities to take on more challenging roles or advance in their careers. Matthews also said poor management leads to less engaged employees. The research found only 43% of U.S. employees claimed to be fully engaged in their jobs.

Right Management found it costs nearly three times an employees salary to replace them due to the expense of recruitment, training, severance, loss productivity, and lost business opportunities.

“Offering innovative ways for employees to learn new skills and broaden their roles helps to promote a culture of collaboration and creativity. Employees are more likely to remain engaged in their jobs and committed to organizations that make investments in them and in their career development,” Matthews said.