What Drives Employee Turnover? Not Compensation
August 24, 2016 4 Comments
Why do employees leave their companies for another job?
To examine this question, I tapped into our Q3 2015 consumer benchmark study which included more than 5,000 U.S. full-time employees. The analysis compared two groups of employees, those who were likely to look for a new job in the next six months and those who were not.
Compensation does not appear to be a significant driver, if one at all. As you can see below, employees who do not believe that they are fairly compensated are not much more likely to look for a new job than those who feel that they are appropriately paid.
The most significant drivers of an employee looking for a new job is how they feel about the work that they do and their pride in their company.
The bottom line: Employees want meaning in their work.