A study released by Insync surveys sheds light on the reasons Australian employees give for resigning,
revealing that 80% of the staff turnover is within the employers control. Over
four and half years, Insync gathered data from exit surveys responses of more
than 11,000 employees, and discovered that majority of people leave primarily
because of job satisfaction. The study found that even if the pay was fair and
employees had a good relationship with pears and management, staff were
motivated to move on if the job wasn’t a good fit, wasn’t fulfilling and didn’t
offer opportunities for progression and development. Motivations varied across generations, with Gen Y pointing to a career opportunities and better job offers, while Gen X and Baby boomers placed job satisfaction above all else. With 40% of men and 47% of women citing as their reason for leaving. Nicholas Barnett, CEO of Insync surveys “An average staff turnover of 18% costs organization with 100
employees around $1million every year. There are 11.5 million people employed
in Australia. Earning $638 billion a year. When you consider that around
2 million Australians are likely to leave their jobs in the next 12 months, staff
turnover costs this country around $83 billion a year.” Barnett concludes that staff enrichment is the key to retention, along with flexibility, work life balance and greater opportunities for part-time workers. “We believe there are five crucial steps organizations can take to reduce staff turnover and make a
notable difference to internal efficiencies, customer relationship and
profitability. The first step is to measure turnover to develop a clear retention
roadmap, then continue making jobs more meaningful, foster a positive workplace
culture, enable and recognise performance, and accommodate home-life
circumstances, “ says Barnett. “This isn’t just HR issues – it requires the
focus and attention of the whole executive team, supported by managers at all
levels.”

Source: HR Monthly

http://www.laboursolutions.com.au