Money Matters, But...

Perhaps the number one myth when it comes to why people leave their jobs is that it’s about the money. Often times people will give this answer in exit interviews because it is the easy answer. More often than not, people leave for factors such as working conditions, their relationship with a supervisor, policies and procedures, or increased workload due to budget cuts, etc.

Of course, pay matters. For employees in low wage jobs, sometimes the main motivation for leaving is more money. But, for other employees, pay becomes an issue of fairness. It is not that they are not making enough money but that they are not being fairly compensated for the work they do. For most people, all things being equal, money will not be the first reason to jump ship. Simple things like an environment where meetings are scheduled but seldom take place or where little feedback is provided can make an employee very unhappy.

Just the right amount of supervision

Frequently, what matters most to employees is how they are treated by management. Too much direction or too little can leave employees frustrated. Micromanage them to death and they feel you do not trust them. Leave things too wide open and they feel lost in a sea of uncertainty. The quality of supervision is critical to retaining employees. Remember, people don’t leave jobs as much as they leave bosses, poor managers, etc. In fact, a person may love his or her job but not the person in charge. Relationships and effective management definitely matter when it comes to retaining employees.

Yes, we do care about your ideas

People also want to know that their voice can be heard without fear of repercussions. Sometimes companies and organizations offer “token” opportunities for employees to give feedback. They get asked what they think but it is never incorporated or addressed. In turn, employees begin to feel devalued. Sometimes what appears to be an opportunity to give input is just a way to push forth a new initiative that has already been decided. People want to have the real chance to be heard and share ideas. Also, companies that create a climate of fear can make employees who speak out fearful of “getting in trouble” for speaking their mind. Companies that foster an open atmosphere where all ideas are welcome are more likely to retain employees.

I’ve got talent – let me use it

More often than not, motivated and talented employees might want to expand their duties to include other areas of expertise. People actually do want more responsibility if it plays to their strengths or career goals. If you have an employee who writes well, you may consider letting him or her write for the company newsletter. This recognition of talent will benefit the company and employee by allowing that person to shine in a different realm.

Sometimes, an employee might offer expertise that is not accepted. This can act as an insult to that employee. Good managers know their employees and their talents. Allowing people to reach their full potential and even letting them stretch is a great way to keep employees engaged – and employed at your company.

Sources cited and consulted for this article:

“Top Ten Ways to Retain Your Great Employees” by Susan M. Heathfield
Date accessed: 10-19-07

“Myths About Employee Morale Prevent Companies from Achieving
Retention Success” eeretentionstrategies.com/myths.htm
Date accessed: 10-19-07