A recent issue of Fortune Magazine cited the top 5 reasons why people quit their jobs. In order they were:
1. Better compensation(including benefits) elsewhere 30%
2. Better career opportunity elsewhere 27%
3. Ready for a new experience 27%
4. Dissatisfied with career opportunities at present company 21%
5. Desire to change careers or industries 16%
To this I’ll add that people dislike their boss and leave because of that.
What’s interesting is that the Fortune list is really only 3 reasons because #2 and #4 are really the same and #3 and #5 are really the same.
As such, the primary factors why people leave their jobs are:
1. Better career opportunity elsewhere/ Dissatisfied with career opportunities at present company 48%
2. Ready for a new experience/Desire to change careers or industries 43%
3. Better compensation(including benefits) elsewhere 30%
4. Dislike their boss percentage unknown
Do you see what I see?
Boredom and lack of challenge is the overwhelming reason why people change jobs.
Review time is not the only opportunity to discuss advancement possibilities with your staff.
Your staff may be attending programs for degrees, advanced degrees, skill improvement. Ask them about what they hope to do with their new knowledge over the next year or two. Can your firm re-deploy these people or use them in a role that would let the use their new skills?
Isn’t it expensive to replace someone
You can be creative.
Jeff Altman
The Big Game Hunter
Concepts in Staffing
jeffaltman@cisny.com
© 2007 all rights reserved.
Jeff Altman, The Big Game Hunter, is Managing Director with Concepts in Staffing, a New York search firm, He has successfully assisted many corporations identify management leaders and staff in technology, accounting, finance, sales, marketing and other disciplines since 1971. He is a certified leader of the ManKind Project, a not for profit organization that assists men with life issues, and a practicing psychotherapist.
If you have a question that you would like me to answer, email it to me at: thebiggamehunter@gmail.com
To receive a daily digest of positions emailed to you, search for openings that The Big Game Hunter is working on, to use Jeff’s free meta job lead search engine, Job Search Universe, to learn about his VIP program, or to subscribe to Jeff’s free job hunting ezine, “Head Hunt Your Next Job, go to http://www.jeffaltman.com. Job Search Universe is also available at www.jobsearchuniverse.com To add your firm’s career page to “The Universe” email the url to jobsesarchuniverse@gmail.com.
For Jeff’s free recruiting ezine, NaturalSelection Ezine, to help human resources professionals, managers and business owners make even better hiring decisions, ,subscribe at www.naturalselectionezine.com .
If you would like Jeff and his firm to assist you with hiring staff, or if you would like help with a strategic job change, send an email to him at jeffaltman@cisny.com (If you’re looking for a new position, include your resume).
