This year, the labor market has shifted as the proportion of U.S. workers quitting their jobs for new opportunities is at the highest level in more than two decades.
With a combined 50+ years of recruiting experience working side-by-side with thousands of job candidates, Nad and Scott share what matters most to employees.
Why Companies Lose Employees
The No. 1 reason why people leave jobs and the No. 1 reason why people pursue new roles are identical.
It’s not money. Nor is it equity. It’s not even growth potential.
Every year, the answer is the same. It’s who people work for. Direct managers have the biggest impact on why people leave their jobs. If employees have a dysfunctional relationship with their supervisor, nothing motivates them to leave faster.
Also, when people are excited about who their boss will be, that’s a big source of motivation to accept a new role. This is why it’s so impactful for managers to be invested in the hiring process. If managers can make meaningful connections with job candidates, that has a huge bearing on their ability to attract the best talent. Never assume that a manager knows how to hire, Scott says.
Job Retention For Experienced Employees
Corporate America is not that different from pro sports.
As a professional athlete, you don’t have a lot of choice or leverage in where you begin your career. In the NFL, for instance, the majority of rookies play for the team that drafted them. It’s only later in their careers that NFL players can choose who they play for as free agents.
In corporate jobs, workers often have limited options early in their careers and they don’t have the luxury of perspective to inform who they work for. As people gain experience, though, they better understand what they want in a job (and who they want to work for), and they become more attractive to other companies.
This is why the role of managers becomes even more important for experienced hires. Skilled workers with years of experience have less tolerance and patience for bad management. It’s not uncommon for people to accept less compensation if they’re excited about who they’re working for.
Think about this in terms of the training you provide your managers and who you decide to put in a supervisory role. This is one of the most important decisions that companies make. Don’t take it lightly.
For more management insights and advice from Nad and Scott, listen to the last episode of recruitAbility’s “Nothing’s Sacred” podcast.