Monday, April 25, 2011

Want to Keep Your Employees? Give Them Growth Opportunities

Employers interested in improving their worker retention rate should take note: Employees have very different reasons for staying at a job than they do for leaving one.

In a global study from consulting firm BlessingWhite, employees revealed they stick with a job because they like the work they do. However, they often leave to advance their career.

The work environment is the top reason employees gave for staying in a job, with 30 percent saying, “I like the work that I do.” Career opportunities were cited by only 17 percent of respondents as a reason to stay at the job.

However, when asked why they would leave a job, career opportunity was the top reason given. More than a quarter of respondents (26 percent) pointed to a lack of growth opportunities.

"Business leaders are right to be concerned about retention of top talent," said Christopher Rice, CEO of BlessingWhite, a global consulting firm. "And while raises may encourage some workers to stick around, our findings suggest that employees -- especially high performers -- will remain in jobs that challenge them, utilize their expertise, and provide meaning."

In general, employees reported their decision to stay had mostly to do with being happy with their employer.

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