People quit their jobs all the time. Even the talented, subject matter experts, and innately driven with an uncanny work ethic leave their jobs everyday. What’s the deal then? Money talks, but employees walk.
The assumption behind why people leave is a “better” opportunity has presented itself. However, the assumption that follows is “better” equals more money. But that’s simply not the case.
Granted there are a few who go on to a new job opportunity because of money. Maybe at the discretion of family choice, personal matters, health complications, etc. But generally, money isn’t the reason why.
However, you need to consider that if someone is a high performer, then it is also fair to assume they are being compensated substantially to their skill set. So why do they leave? Even when companies counter offer attractive incentives to stay; their top talent walk.
According to Forbes there are various reasons why top talent leaves an organization. The underlying reason … HEALTH. People want a healthy life, and that includes emotional health. If a company isn’t providing you with this type of lifestyle, it’s likely not the company for you. So what are the reasons Forbes believes people will leave their job?
No Vision – I’d wager most employees don’t care too much about the profit of their company. Profitable companies do just as good of a job holding onto employees as companies that aren’t profitable. It’s when employees comprehend and believe in the company’s vision that they trust in the future of the organization. Remember what Simon Sinek said, “People don’t buy what you do, they buy why you do it.” What this means is people buy into your vision more than anything else. No vision? No stick. Without an inspirational vision, you will likely exit your company.
No Connection to the Bigger Picture – Employees do not only feel valued through monetary or verbal recognition, but by a sense of purpose. A scope of work and a repetitive confirmation of the vision does not create purpose. Purpose occurs when an employee feels as though he/she is a vital organ to the health of the company. Again, this plays into Sinek’s “why.” People tend to feel more inspired by their work when they know they’re having an impact on the world. No matter what your company does, it can easily be communicated to you how you’re helping change people’s lives (even if it’s only in a small way). But, if your company isn’t doing this for you, it’s not your fault you feel disconnected from the bigger picture.
No Empathy – This should be easy for companies to master (emphasis on simple). However, companies still fail listen to what their employees have to say. If you’re not provided with a platform to speak candidly and freely without judgment then there’s no harm in moving on. That way, simple fixes can be addressed instead of large economic impact, like losing your top performer. People want to be heard, they want to feel like a contributing member of the team. It’s understandable why empathy is so important for employees.
No [Effective] Motivation – There are other motivators aside from money that fire-up employee morale. Company-wide recognition, making changes the people ask for when goals are reached, thoughtful emails/letters, introductions to higher management, and time off. The list goes on and on here. Motivation comes in all shapes and sizes, it’s not always going to be dollar signs.
No Future – In alignment with vision, personal growth opportunity needs to be obvious. Like really obvious. People who work towards a vision also validate their worth within the organization based on career path development. People who feel stagnant, leave. It’s human nature to look towards the future and want to feel some sort of safety and stability. If people aren’t being provided with that than it’s an easy decision to leave.
No Fun – BE FUN! People want to enjoy what they do. After age 25 people spend up to 78% of the rest of their life working; make it worthwhile and enjoyable. The ebbs and flows of business can bring people up and take people down. Yes, work is supposed to be work, but nowhere is it written that work has to be miserable either. Make a conscious effort to consistently build up your team! Company happy hours, contests, community involvement, special guests, etc. these are the things that go a long way to making an employee happy. And happy employees stay!
Money becomes a soft whisper when the above elements are put into effect. If you’re missing just a few of these elements, you may quit your job this year and move on to greener (but not money green) pastures.