Employees Are Leaving Work For More Than Just Money: Here's Why, And What You Can Do
There is currently a lot of interest in why workers are leaving organizations, and there are no shortage of explanations. The most consistent finding is that workplace environments, rather than just salary, is the main driver for employees quitting and looking elsewhere for employment. For example, research done by the Cengage Group found that the two main drivers of employees leaving organizations were salary (91%) and employees feeling burned-out/unsupported (89%). More recent research, however, from MIT Sloan found that toxic culture, not pay, was the top reason workers were leaving. In fact, according to the MIT study, toxic workplace environments were ten times more likely than salary to cause people to quit. It seems clear that pay alone is not enough to entice and retain high-level employees.
So, what can you do to create a better work environment and keep your best talent? It's not easy, but there are some steps that you can take. First, you need to be aware of the problem. If you don't know that employees are unhappy or leaving, you can't fix it. A professionally designed workplace and leadership assessment measure, such as the ones developed by Psyince, can be a great step towards collecting that information. Next, use that assessment data to look at your workplace culture and see where you can improve. Are people feeling appreciated? Do they feel like they have a voice? Are leaders setting the example and supporting their teams? If not, then make some changes. Finally, be sure to invest in your employees. Give them the training and development they need to grow and be successful. Show them that you value them and want them to be a part of your team. When employees feel supported and appreciated, they are more likely to stay with your organization.
Overall, leaders need to be aware of the importance of their role in creating a good work environment. For example, Dr. Jeremy Noble from Psyince wrote an excellent article to help recognize some critical leadership traits that differentiated productive and unproductive organizations. Identifying and improving the characteristics Dr. Noble discusses can assist in being proactive in addressing any issues that may arise and ensuring that employees feel supported.
Leadership and workplace culture matter a lot to employees. If you want to keep your best talent, you need to make sure that your work environment is one where people feel appreciated and valued. This means creating a positive culture where people feel like part of a team and have a voice. It also means having good leaders who set the example and support their teams. Creating a good work environment is not easy, but it is essential. With the right tools and understanding, you can make changes that will benefit your employees and organization. Show your team that you care, and they'll be more likely to stick around.