Employee resignations are still cresting at all-time highs, and PR agency leaders know just how hard it has been to attract talent.
And the amount of time you have to save an employee who is considering a job change is brief. According to new data from Real Estate Witch, 1 in 4 employees who resigned their job since January 2021 only considered the change for a week or less before jumping ship.
The online survey talked to 1,000 workers who had left their jobs in the last year, digging into the factors that were driving the shift in employment. The top reason? Toxic culture.
Other top reasons for workers to leave their jobs include changed career goals (30%), burnout (29%) and low pay (28%).
The impetus of the great resignation is clearly the aftermath of the COVID-19 pandemic, with 80% of respondents saying the pandemic influenced their decision to leave their job. Some of the related factors include understaffed workplaces, childcare needs and health care concerns connected to COVID-19.
Even when organizations try to offer more to keep employees on payroll, it’s often too little, too late. The report said 80% of employees who left their jobs received a counteroffer from their employers but still decided to leave. Counteroffers often included better benefits, more pay and flexible work hours.
It’s not a bed of roses for those that do resign. Nearly 60% of employees have some regret about quitting after they leave their jobs and often do not get a higher salary in their new role. Forty-four percent of workers who changed jobs in the last year are thinking about doing so again in the next six months.
This data confirms findings from a recent study by the MIT Sloan Management Review, which named toxic workplace culture as the biggest factor in employee attrition.
How can you retain essential employees and avoid the turnover sweeping workplaces around the country? Addressing toxic culture and employee fears can go a long way. Many employees report the job search is unpleasant and frustrating, despite a hot labor market, showing that workers might be looking for a reason to stay put.
You just have to give them one.