40% of employees stated that they are at least somewhat likely to leave their current job in the next 3–6 months (McKinsey McKinsey Global Survey Aug 2021Survey Aug 2021). The Great Resignation has become one of the trendy phrases of the past few years. It has a nice ring to it… except that it is inadequate. The majority of employees are not resigning – they are staying put. And many who do resign are leaving to go to another organization. So, we would be smart to consider what organizations are doing to retain their people and what others are doing that may contribute to employees leaving.
Here are the seven most important reasons people leave or stay:
Positive Environment: Member feels both psychological and emotional safety and positivity.
Opportunities for Advancement: Member envisions growth opportunities in the foreseeable future.
Attractive Compensation: Member feels satisfactorily compensated for his or her responsibilities.
Job Control: Member has some level of determination regarding their work without micromanagement.
Relational-Emotional Ties: Member has strong relational connections with one or more team members.
Compelling Mission: Member feels the work they are doing is meaningful and makes a difference.
Role Satisfaction: Member is enthusiastic about the primary aspects of his or her job.
Seldom is an employer a “5” or “Very Strong” in all seven of these areas and at all times. But rather than grumbling about or resigning ourselves to the Great Resignation, leaders would benefit from having an honest and healthy look at these seven vital signs – gathering anonymous feedback and discovering where you are at your best and where you may have a leak. You will likely discover that your organizational culture offers some very real Velcro that helps retain your team and which should be celebrated. You may also discover opportunities to improve. Gallup conservatively estimates the cost of replacing a person at one-half to two times the annual salary of an employee! So, sharpening your staying power is worth the investment.
Use the “Seven Vital Signs For Effective Recruitment and Retention” scorecard as a simple assessment tool for you and your team to discuss. Download a PDF version here.
Contact us to learn how our coaches and consultants can help you create a sticky culture among your team.
Jay Desko is the President & CEO of The Center Consulting Group and brings experience in the areas of organizational assessment, leadership coaching, decision-making, and strategic questioning. Jay’s degrees include an M.Ed. in Instructional Systems Design from Pennsylvania State University and a Ph.D. in Organizational Behavior and Leadership from The Union Institute.
