A new study reveals what drives staff turnover and bigger resignations. Significant resignations shake companies across industries, and employees are looking for answers.
High pay, burnout, and lack of career opportunities are often cited as factors. But that’s not the whole story. Explore Leaders in Experience Management (XM Solutions) has commissioned a survey of more than 2,000 full-time and part-time working adults in the US to investigate the hidden drivers of sudden employee flight.
Staff turnover is a problem for any company, but what are the causes of it? The cost of hiring and training new staff can be prohibitive. A recent study reveals that significant resignations are often driven by two things: tension with colleagues and poor manager-member relationships.
Tension, conflict, or stress with coworkers is the critical driver of job turnover among companies across industries.
What are the reasons that are leading employees to give notice to their companies?
Employers are not listening, and employees are taking notes. The survey found that most workers are keen to share feedback with employers in the hope of driving positive change in their workplaces. However, some employees, including many executives, feel that their feedback goes unheard and does not lead to meaningful change.
Three key findings come from the Explorance survey. First, 50 percent of respondents said they had received a study from an employer in the past year. Second, half of the respondents (45 percent) and 40 percent of executives do not believe their feedback will lead to meaningful change. The key to slowing the great resignation is simple: Employers must listen to employee feedback and act.
The most time-consuming part of the survey is the completion of the employees, which challenges HR managers to analyze at the company level. Companies that receive thousands of employee responses and invited questions do well with this data. The answers at the end of the questions have the most significant potential to provide insights into how meaningful change can be driven forward.
These data not only provide new insights into what workers are looking for when they change jobs. They also show how to respond to employee feedback and make meaningful changes to improve employee engagement and retention, says Samer Saab, the founder, and CEO of Explorance.
Ask your employees for feedback, including open-ended questions that allow them to speak freely and share their thoughts. Analyze the survey results and communicate the most essential effects to employees. Employers can turn insights into action by seeing and addressing their employees “concerns without running the risk of finding out about them during the exit interview. You can also do this to slow down the wear and tear.