Employees who have not received recognition recently are twice as likely to be looking for another job, according to a study by employee engagement organisation Tiny Pulse.
The Employee retention report 2018 surveyed over 25,000 employees across the world from January to October 2018 and found that 24% of employees who felt they had not received recognition from their direct supervisor in the past two weeks had recently interviewed for another position, compared with just 13% who had received recognition.
The report also found that employees who do not feel valued at work are 34% more likely to leave their employers within the next year, and employees who rate their benefits package highly are 11% more likely to stay.
Andrew Sumitani (pictured), director of marketing at Tiny Pulse, said: “In today’s competitive job market, there’s no magic bullet for retention. But as the report reveals, every organisation has an opportunity to improve its numbers. Whether that’s through benefits, career-pathing or management training, there are lots of areas to focus on. Ultimately, it all boils down to feeling valued at work. That’s what people want and the only way leaders can help employees feel that way is by finding out what’s behind that feeling.”
According to the report, employees who rate their work-life balance highly are 10% more likely to stay. The study also found that employees who rate their organisation’s culture poorly are 24% more likely to leave, and workers who believe their employer has a higher purpose are 27% more likely to stay.
Sumitani added: “Retention is top-of-mind for all the leaders that we work with. It’s hard to craft a great employee experience if employees don’t stick around. We’re uniquely positioned to assess what truly drives retention, because hundreds of thousands of employees answer questions anonymously through our platform each week. When compiling this report we were surprised to see the strong correlations across so many different drivers of retention.”