46% of new hires are gone within 18 months
The Saratoga Institute conducted a survey and it revealed that 89% of managers believe employees leave for more money. But, in fact, the survey found that 88% of employees leave for reasons other than money.
The real reasons that employees leave their employer are typically the following:
• Poor management
• Lack of career growth and advancement opportunities
• Poor communications
• Lack of recognition
• Lack of training
• Excessive workload
• Lack of tools and resources
• Lack of teamwork
Additionally, Inc. Magazine warns that the warming economy will lead to a mass exodus for employers who undervalued and overworked their staff while jobs were scarce.
LoyalNation works with partners to identify strengths and weaknesses around employee retention, then develops custom solutions for enhancement and reinforcement. These solutions can involve the development of manager resources, communication planning, recognition programs, team building events, use of our social platform and more. Statistically the cost to replace a good employee is much higher than the cost to keep a good one. Let LoyalNation create an environment where your people are your best asset.
“In these days of downsizing, offshoring of work, economy challenges, etc. this award and the ensuing discussion about longevity being a rarity, our great company, and the team that was very positive for the entire team.”
– C.H., Manager, $2B Software Development Company
For more information on employee retention, click here.