We recently read an interesting article posted on MarketWatch that dealt with the reasons workers leave a company to work somewhere else. The article was based on a survey conducted by Kenexa, a recruitment and retention consulting firm. After surveying 10,000 U.S. workers and 1,000 workers from five other countries each, the survey found that direct managers have the biggest influence on their department’s turnover. Simply treating workers with dignity and respect is the biggest concern. However, it was noted that managers aren't the only reason workers opt to stay or go. The five key drivers of retention are, according to Kenexa:
A sense that the job holds a promising future for the worker, which includes a feeling that the company will be successful and that the individual worker plays a key part in that success.
The company's involvement in corporate social responsibility initiatives. "This came as a surprise to us,"
Recognition of the worker. That's often a simple "thanks for doing a good job".
Getting paid fairly.
Deriving a sense of accomplishment from the job.
If you are a manager of other people, consider your own management style and how it affects turnover. It’s not about being friends with your employees. Good management includes the ability to reward and recognize as much as it does discipline.
Read the whole article here.