Glassdoor reveals the top factors in employee turnover
A new study has revealed the top reasons why people will quit their jobs. Glassdoor carried out statistical analysis of over 5,000 real-world job transitions to determine what makes people leave – or stay in – their role.
Perhaps unsurprisingly, company culture is key. Employers rated highly on Glassdoor for culture, values and career development were more likely to retain employees and attract people to their roles. However three factors in Glassdoor ratings – work/life balance, senior leadership and compensation and benefits ratings – don’t appear to have a significant impact on employee turnover.
The study also revealed that higher pay will also impact whether employees stay in their role, or leave for a new opportunity. When changing jobs, people receive an average 5.2% pay increase, but a 10% increase in base pay results in a 1.5% higher chance that they’ll stay with their existing employer.
Finally, job stagnation was highlighted as another reason for employees to consider a new role. For every 10 months an employee stagnates in a role, they are 1% more likely to look for something new. The data also revealed the industries with the highest levels of employee turnover. On average, employees spend an average of 15 months in a role, however in biotech and pharmaceuticals this is as low as 12.7 months.
If any of these sound familiar to you, contact the Quanta team about taking the next step in your career today.
To find out more about life at Quanta and view our employer rating, visit our profile on Glassdoor.