To retain employees you need an understanding of what people value about their roles. A recent survey from Gocompare.com highlighted that time is more important than money. 68% of participants valued their time. 20% would ‘buy’ an average of eleven additional days’ holiday by taking a reduced salary.
Understanding the value of work-life balance won’t be enough to beat the rush of applications and updated CVs targeting new roles. You also need an appreciation of what tips people from wanting more time to consciously looking for their next job.
Glassdoor has researched what issues tip people into resigning from their current employer. The results are very interesting.
Whilst 68% people value time over money, a low salary was the top reason for leaving a job. Even more interesting… the biggest group citing this reason was the 16-24 year olds (44%). This age group may not be the global relocation talent of today however organisations need to nurture these people for tomorrow. This group will be delivering long term business goals.
1. Low salary – 35%
2. Length of time in role – 23%
3. Boring work – 22%
4. Location/Commute – 20%
5. Dislike manager – 18%
6. Dislike culture – 14%
7. Poor benefits – 13%
8. Not confident in company direction
9. Dislike colleagues
Would your organisation like to create or review an international relocation policy?
Contact Kevin via firstname.lastname@example.org or call +44 (0) 1582 495495.
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