No company wants a high rate of turnover, especially in regards to its best and brightest employees. A certain amount of turnover is to be expected, but that’s usually because the people involved are unhappy with their boss or their job, right?
Unfortunately, a recent survey by global consulting firm Mercer is shedding some unsavory light on the answer to that question. Why is it unsavory? Because the results of the survey seem to suggest that employees don’t have to be unhappy to leave their organization for another employment opportunity.
In fact, they can be satisfied with their current employer—and still want to leave.
According to the survey, which involved 3,000 employees representing a cross-section of the United States workforce, 37% indicated that they’re seriously considering leaving. However, the part of the survey that’s surprising is the high percentage of those who stated that they’re happy at work but are considering leaving, anyway.
Now, as you might have already guessed, younger workers (i.e., Millennials) are more likely to feel that way. In the survey, 44% of Millennials said they were considering making a move, the highest percentage among all age groups. The age bracket of 35-49 was next at 39%, and the 50-65 bracket landed at 29%.
What about seniority? What effect did that have on the results?
According to the survey, senior managers (63%) were more likely to be thinking about making an exit. Next were middle managers at 39% and non-management employees at 32%. Could it be that those at the upper levels of management are seeking greater opportunities for advancing their careers? The results would certainly seem to suggest that.
So what does all of this mean? What impact does it have on organizations and their attempts to successful retain their best employees?
It suggests that simple engagement methods may no longer be cutting it in the workplace. Greater measures are needed to retain the services of top employees—especially if those employees are Millennials and/or members of senior management.
Does your organization have an effective engagement and retention program in place? Are you confident that you can keep your best employees?
If not, the end of the year is the perfect time to address these shortcomings, so that you can start assembling the best team possible for the New Year.
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