It's not just about pay, it's about a company's
Culture too. A study looked at 5,000 job changes in the US to see why people left.
- Company culture was given as one of the main reasons employees quit. Employers with better culture and values ratings are much more likely to retain staff.
- Pay is also important with salary increases reducing turnover - although only slightly.
- 'Job stagnation' is also a factor. This happens when people feel they have been stuck in one role too long.
Some factors had no impact on turnover like work life balance and perks. The average US worker changes jobs around 12 times before they are 48. 69% of workers between ages 18 and 24 leave their employer within one year. High turnover adds to employers business costs and can affect reputation. Better company culture and career paths significantly increase employee retention.
