A new study, Why Do Workers Quit?, conducted by Glassdoor Economic Research, finds employees that stagnate in a job too long are more likely to leave their employers rather than move to a new role within the company. The economic research arm of Glassdoor looked at more than 5,000 job transitions from resumes submitted to the site and combined that data with company reviews and salaries shared by employees to understand the statistical impact of various factors on employee turnover.

 

The report also finds high employee satisfaction, better opportunities for career advancement, the quality of an employer's culture and values and higher pay lead to better employee retention. This comes as a valuable warning sign to employers because on average, employee turnover costs 21 percent of an employee's annual salary.  Workplace factors like work-life balance, senior leadership and the quality of compensation and benefits packages have no statistical impact on employee turnover.

 

"Employee turnover is costly for employers. Although you can't control everything when it comes to turnover, Glassdoor data confirms there are many ways you can control whether employees stay or go. Employers that work to improve company culture, offer competitive base pay and regularly promote and advance employees into new roles will retain them longer," said Dr. Andrew Chamberlain, chief economist of Glassdoor. "In addition, these findings tell recruiters and employers looking to hire what to focus on to bring candidates in the door. For example, focusing on passive or active candidates that have been in their roles for quite awhile or are at companies without a strong company culture could help bolster recruiting efforts."  Source:  Glassdoor