In this post, I will share the 8 reasons why employees quit their jobs.
Before diving deep into the reasons, I have a question for you:
Do you like your job?
I’m asking this question because, in the last couple of years, more than 50% of employees globally have either quit their jobs or switched jobs.
As per Business Today, Infosys had the highest employee attrition rate of 28.4% in the first quarter of the 2022-23 financial year, the highest among Indian IT companies. Wipro comes second in the list with an attrition rate of 23.3%, while Tech Mahindra reported an attrition rate of 22%.
Employee turnover or attrition is a big concern for companies of all sizes. Losing proficient employees can prove to be costly, not just in terms of recruitment and training costs, but also in terms of lost productivity and decreased morale.
While some turnover is inevitable, understanding why employees leave their jobs can help employers take steps to address these issues and retain their top performers.
Now, let’s take a look at the most common reasons why employees quit their jobs:
Reason 1: Lack Of Career Advancement Opportunities
I worked for over a couple of years and while I was working, I heard many employees say that they want to feel that their work is meaningful and that there is room for growth and advancement within the company.
See, if employees feel stuck in their roles with no opportunity for career development or advancement, they may look for opportunities elsewhere.
Reason 2: Poor Management
Managers play a crucial role in employee satisfaction and retention. If managers are ineffective, lack communication skills, or do not provide constructive feedback, employees may become frustrated and disengaged, leading to a turnover.
Reason 3: Overlooking Workload & Stress
High workloads and stress can lead to burnout and fatigue, ultimately leading employees to seek other opportunities.
Employers need to be mindful of employee workload and ensure that they provide adequate support and resources to help employees manage their workload.
Reason 4: Toxic Company Culture
A company’s culture can play a significant role in employee retention. If employees feel that their values are not aligned with the company’s culture, they may feel undervalued and disconnected from their work.
If the company does not prioritize work-life balance, employees may look for employment elsewhere.
A positive company culture can foster community and pride in the workplace, leading to higher job satisfaction and retention rates.
Reason 5: Poor Compensation & Benefits
Competitive compensation and benefits packages are essential for attracting and retaining top talent.
If employees feel that their compensation and benefits are not in line with their expectations, they may look for opportunities that offer more competitive packages.
Reason 6: Not Feeling Appreciated Or Valued
Not feeling appreciated or valued in the workplace is regularly reported by employees as a reason for quitting or switching.
Employees want to feel valued and appreciated for their contributions. If employees feel that their efforts are not recognised or appreciated and they do not receive enough accolades, their job satisfaction – and even their self-worth – takes a severe hit!
If employees feel even for a minute that you can be replaced, they will start looking for a job where their position is secure and their efforts are appreciated more.
It feels satisfying and joyful to know that your job is making an impact on the overall growth of the company.
Reason 7: Toxic Bosses Or Seniors
Although companies promise that they will provide a friendly environment to the employees, the truth is, many seniors or bosses exhibit pathetic behaviour.
When I was working, my seniors:
- Poked their filthy noses in my personal life. Maybe that’s the only thing they were good at! 😉
- Delegated their tasks to associates because they had to watch “Rajpal Yadav Comedy Scenes”.
- Didn’t answer calls when I needed help, but called incessantly when they were stuck.
And, according to bosses, employees take things for granted! 😂
Many colleagues said that they cannot do anything but suffer as it is difficult to report seniors. Maybe because they had the support of their seniors, who knows?
Such toxic behaviour not only affects the employees’ productivity but also their mental health.
However, there is usually one solution: Reporting to HR!
Although HR promises confidentiality, you know the HR-Boss “bond”.
No employee wants to work under a disrespectful boss. I have watched MS DHONI’s leadership and I had always dreamt of a leader who will motivate and guide me.
However, since my manager was toxic – and porcine – he drained the positive energy from the people working under him and made them hate their job.
This is why almost 70% of the team quit without giving it a second thought.
Reason 8: No Work-Life Balance
For me, spending time with my friends and family and doing things I love is crucial! Although my seniors respected it and never called me outside of working hours, there are others whose seniors constantly want them to work overtime.
This can impact your personal time, make you feel like you are working all the time, and have you regret not having time for your family and friends.
When employees work overtime constantly, they can feel burnt out and start looking for jobs that respect and value their personal time to help them achieve work-life balance.
Conclusion
Employee turnover or attrition can be costly for companies, hence, understanding why employees quit their jobs is critical for companies looking to improve their employee retention rates.
By addressing issues such as career development, management, work-life balance, company culture, compensation and benefits, and recognition, businesses can create a work environment that fosters employee engagement, loyalty, and retention.
I also feel seniors should be demoted if they fail to carry out their duties. Companies should create a policy/provision where a senior’s feedback is sought from subordinates and if the senior receives a low score, they are demoted for at least 2 years.
Now, I am curious to know if:
You want the demotion rule to be applied in every company
Or
You want the introduction of a new rule for underperforming seniors.
Either way, let me know in the comments box below.
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