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Is retention of staff becoming an issue?

Is retention of staff becoming an issue?

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Eavanne Allen

Retention is becoming a pressing issue for HR professionals. 

According to a recent cross-industry survey, 93% of businesses agreed that the retention of new hires in their organisation is an issue.

And over one-quarter (26%) jobseekers aren’t ready to stick it out at a job they thought wasn’t a good fit, even when they haven’t got another offer.

But why are people leaving? The Korn Ferry Futurestep research found the top reasons new hires are exiting is their specific role isn’t what they expected and working for the company was different than they thought it would be.

Surprisingly, the issue transcended pay, with respondents saying that money was not a primary reason a new hire would leave. More than half surveyed (55%) said that offering more money to a new hire who wanted to leave would not make them stay.

A staggering eight in 10 (82%) said that if they accepted a job that they ended up not liking, even if it paid well, they would leave as soon as they found something else.

“It is important that organisations have a clear employer brand to share with candidates that is true to the company and reflects the day-to-day culture,” comments Neil Griffiths, Korn Ferry Futurestep Vice President, Global Brand, Marketing and Communications. “Competitive benefits and salaries are table stakes to attract top talent, but creating an environment where employees are given interesting work and recognised for their efforts will give them a reason to stay.”

“Unhappy employees will not go above and beyond the basic requirements of their job, even if they are well paid,” he says. “Our study found that the majority of respondents (70%) said challenging and rewarding work is what keeps them on the job. Clear advancement opportunities also create a positive environment that benefits both employees and employers.”

The study also found that Millennials were the most likely generation to leave a new job if they were not satisfied. Griffiths adds that this shows employers need to go the extra mile to create a professional environment where all employees feel valued.

“Unhappy employees will not go above and beyond the basic requirements of their job, even if they are well paid,” he says. “Our study found that the majority of respondents (70%) said challenging and rewarding work is what keeps them on the job. Clear advancement opportunities also create a positive environment that benefits both employees and employers.”

The study also found that Millennials were the most likely generation to leave a new job if they were not satisfied. Griffiths adds that this shows employers need to go the extra mile to create a professional environment where all employees feel valued.