The Great Resignation shattered the workforce landscape as we know it. In 2021 alone, 4.3 million Americans quit their jobs in search of better opportunities. As a result, stemming the impact of talent loss on organizations has shot to pivotal importance. Free-falling resignation rates are dangerous for businesses, with increased costs, disrupted workflows, and diminished morale the most common result.
So, why do organizations lose talent? The obvious answer could be a higher benefit or remuneration package, and while that’s usually the cherry on top, it’s often not the only motivator. Many choose to look elsewhere because their companies lack a growth and retention mindset when thinking about their workforce. Talent management systems and training opportunities like those provided by Talentwize and Elev8 tackle employee attrition head on. The crucial first step to stemming talent loss is establishing what push factors are sending employees out the door. We’ve done our research and here are our top 5 reasons organizations lose talent:
Reason 5: Feeling unseen/undervalued
Nobody wants to feel like a doormat, or that their hard work is going unrecognized. Research carried out by the Pew Research Center found that 57% of participants cited “feeling disrespected” at work as a major reason for their decision to leave.
Employees say that lack of gratitude, an atmosphere of negativity, uneven distribution of tasks or failure to acknowledge effort all contribute to feeling undervalued or disrespected in the workplace.
Reason 4: Feeling disconnected or disengaged
Feeling disconnected from what they do is one of the most common reasons for talent loss. There is a proven directly proportional relationship between feelings of disconnection and loneliness. Employees who don’t find deeper purpose in what they do, feel isolated in their day to day, or lack meaningful connections with their colleagues, fall prey to talent loss.
Disengagement, in contrast, often stems from feelings of powerlessness. These feelings result in higher levels of absence, missed meetings, and lower empathy for colleagues. As their performance suffers, they may look elsewhere for a “fresh start.”
Reason 3: Micromanagement
Micromanagers are the stuff of nightmares. Everyone has experienced one. You dread every call and emails signed off with smiley faces have taken on a layer of passive aggression you didn’t think possible. Micromanagers get lost in the minor details and fail to see the big picture. Insecurity and a need to control permeate all their interactions so they’ll insist on being involved in every decision and take everything personally. Productivity and general morale are the first to suffer at the hands of a micromanager. Not surprisingly, their lack of trust and negativity have experienced, and value-adding talent running for the hills.
Reason 2: Personality / Working Style clashes
You can’t like everyone and not everyone will like you. However, there is a difference when clashing with your colleagues affects your performance, wellbeing, and quality of life. In an ideal world a group of professionals should be able to collaborate effectively despite any major value differences in their personal styles, tastes, or life choices. In fact, in the 21st century, diversity should form one of the core values of all socially responsible corporations.
This ideal doesn’t always translate into the real world. Low emotional intelligence, overly passive or aggressive conflict styles, or an inability to find middle ground can cause organizations to lose vital talent.
Reason 1: Lack of upskilling opportunities / career development
Driven professionals want to feel like they have the support and the possibility to unlock their full potential. If they’re not challenged, their energy and enthusiasm can fade as they begin to feel bored, frustrated, and apathetic. A survey conducted by Career Addict found that opportunities for progression were a crucial factor for 82% of participants, and a lack of possibilities to upskill would cause them to look elsewhere.
Upskilling or career progression opportunities can take on a variety of different forms. Employees may focus more on technical or soft skills depending on their industry, current skillset, and goals. Often, they’re motivated by a desire to remain competitive in their job market, qualify for a promotion, or to progress towards a personal goal.
How Elev8 Can Help
Elev8 can help prevent talent loss through role-based digital skilling programs. To make their employees think twice about jumping ship, organizations should regularly assess their workforce’s skill levels, identifying strengths, weaknesses, and areas for potential upskilling and reskilling. Talent management systems like Talentwize make this process simple and quantifiable. Match regular upskilling with routine career mapping and your talent will never want to leave.
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