Why are your talented employees leaving for other companies, and how can you retain them?

Is the grass really greener elsewhere? In a market where talent is highly contested, the idea of changing employers to improve your situation is often tempting. Understanding what motivates employees to leave is a key challenge for human resources managers, if they want to implement effective strategies to retain their teams.

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A recent survey, carried out by Randstad in Luxembourg on the criteria for the attractiveness of businesses, offers interesting insights. It reveals that 13% of the 1,515 people interviewed in the first half of 2024 plan to change employers in the next six months. Moreover, 7% of them have already taken the plunge in the last six months.

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In total, this means that one in five workers is ready to move or has already done so recently. These figures highlight the need for companies to understand employee expectations and improve their HR policies to retain their talent in a context of high professional mobility.

Why do employees move?

Beyond this observation, it is especially interesting to look at the motivations of employees who say they have moved or want to look elsewhere. The survey asked them the question directly and this is what came out of it.

In search of a better balance

The survey reveals that the most important reason to leave is the possibility of enjoying a better balance between private and professional life. It is mentioned by 46% of respondents. Being offered a salary opportunity “that cannot be refused” is only mentioned as a reason for leaving by 42% of those interviewed.

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This search for a better balance is a factor mentioned more by the younger generations. 49% of Millenials cite it, compared to 35% on average among the older generations.

More flexibility required

In connection with balance, it is interesting to note that too long travel times are a reason for leaving an employer mentioned by 30% of respondents. The lack of opportunities to organize their work in a more flexible way (thanks to teleworking or even staggered hours) is mentioned by 20% of workers.

A need for clear perspectives

The lack of attractive prospects is one of the reasons cited by almost a third of respondents for wanting to leave their job. This observation includes in particular a lack of career advancement opportunities or a loss of interest in the content of the mission.

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Cultural and governance issues that should not be overlooked

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To retain talent, employers must be exemplary in many ways. He must ensure that a positive corporate culture is maintained. It is a major managerial challenge.

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A quarter of workers say they are tempted to leave their job because of a poor relationship with their supervisor. In addition, 12% of respondents say they are ready to leave because of established inequalities in treatment, whether related to gender, ethnicity, religion, or others.

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In addition, 12% consider that an organization's values of diversity and inclusion that are not aligned with their own are a valid reason to look for another job.

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And the salary in all of this?

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While work-life balance is an important factor, the salary issue remains a decisive issue in choosing a new employer.

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The survey conducted was not limited to identifying the reasons that push employees to leave. She also sought to determine the strengths of the ideal employer according to the candidates. The first criterion used by the respondents is “attractive remuneration”.

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Salary is therefore a key element in attracting and retaining employees. A study by ADEM, published in October 2023, confirms this trend. She observed a higher turnover among jobs paid at the Social Minimum Wage, corresponding to low-skilled positions.

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The dashboard associated with this study states that nearly a third of the recruitments carried out between June 2022 and June 2023 concerned unqualified (23%) or qualified (9%) paid jobs close to the minimum social wage.

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Job security, work atmosphere and career progression

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Job security is the second most important characteristic in defining the ideal employer. It comes before work-life balance or even a pleasant working atmosphere.

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In other words, if we draw an analogy with the Maslow pyramid, a company that does not meet basic needs in terms of remuneration and security will have a lot of difficulty retaining its employees.

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The survey highlights that, although employers generally meet expectations regarding wage criteria and safety, shortcomings remain. These shortcomings mainly concern the working atmosphere and the support for career progression.

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Barely two out of five workers believe that their employer meets these challenges in a satisfactory manner. It is therefore on these aspects that businesses must focus their efforts.

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Organizations that want to attract and retain employees have every interest in investing in upskilling (improving existing skills) and reskilling (acquiring new skills) strategies for their teams.

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