How to Keep Your People
By Jillian Broaddus and Chuck Cusumano
“People don’t leave jobs; they leave bosses.”
While this statement is true, it’s not that simple. And by a quick look at the trends of turnover over the past decade, it’s clear that something needs to be done. Employee engagement is at a staggering low – (Gallup estimates that only 1 in 3 American workers is engaged in their job) – and the number of employees quitting has risen year after year.
According to Harvard Business Review, managers alone aren’t wholly accountable. People leave when their jobs aren’t enjoyable, their strengths aren’t being used, and they aren’t growing in their careers. To back this up with numbers, after surveying employees at Facebook, those who were still in their jobs 6 months later “found their work enjoyable 31% more often, used their strengths 33% more often, and expressed 37% more confidence that they were gaining the skills and experiences they need to develop their careers.” Of course, these three areas can still come back to managers; the best leaders don’t fit employees into a job description, but fit the job around the strengths of their people.
Looking to keep your people happy, engaged, and – simply put – at your company? Here are a few more relevant stats to keep in mind:
37% of employees would quit and take a new job that allowed them to work remotely part of the time. (Source: Gallup)
Only 12% of employees leave a job because they want more money. (Source: CareerBuilder.com). However, 89% of bosses believe this is the cause.
43% of millennial employees feel like their company only cares about profits; 42% say their jobs create huge amounts of stress, and 36% say their jobs have a negative impact on their health. (Source: O.C. Tanner)
And one last number: According to SHRM, the total cost of turnover per employee ranges between 100-300% of the individual’s salary. That’s costly – not to mention the negative reputation that can befall your company.
Make a change; Make employee retention a priority!