If your company is struggling to keep employees, there is always a reason why. Facing those harsh truths and identifying those reasons during an exit interview isn’t easy. People may be afraid of burning bridges and are generally reluctant to share their insights, especially if they’ve just quit.
As a recruiting company, we are constantly creating a dialogue with candidates reconsidering their roles. Before the candidate ultimately decides whether they are going to leave or stay, there are many factors that come into play. Here are some of the (not-so-secret) secrets employees have before quitting their job.
“Too little, too late” is a thing
When someone decides to leave their job, a counteroffer will only keep them for so long. They may take up the offer and stay with the company, but for how long? The stats aren’t on your side. About 80% of candidates who accept a counteroffer from their current employer end up leaving within just 6 months.
If you wait until the employee is leaving to meet them at their value, you’re playing the wrong cards. Make them feel appreciated now.
People rarely just leave solely because of money
People usually aren’t leaving for money alone. Sure, it happens. If someone is offered up a 40% pay bump, there is no doubt they are on their way out the door. However, that usually isn’t the case.
If a candidate is getting recruited, at some point they went from being a passive candidate to an active candidate. At JDI, we like to consider CLAMPS:
C – Challenge: How challenged are they in their current role? Are they in a position where they’re presented with new opportunities if they want them?
L – Location: How close are they to the office? Were they offered remote or hybrid opportunities?
A – Advancement: Have they been getting constant excuses and neglect for not getting that promotion, or pay bump?
M – Money/benefits: This is not just regarding salary, but also the benefits. Are they being paid market-value?
P – People: Do they get along with the people? Does the team get along or is there heavy office politics in play?
Mental resignation comes first
According to a McKinsey and Company analysis released earlier this year, which polled more than 13,000 people worldwide between February and April, almost 40% of workers considered leaving their current positions. According to Bonnie Dowling, one of the report’s authors, the elevated quit rates were not just some fleeting trend. There has been a fundamental switch in how people prioritize work and life
Things are not the same as they were 3 years ago. Things are not going back either. Before a candidate packs their bags, it’s likely that they’ve had a burden on their back for some time. You may see a drop off in performance or indifference towards their colleagues before they actually quit. This did not spring out of anywhere.