In this report, Real Reasons Employees Are Quitting Their Jobs But Employers Don’t Know, you will learn why employees are resigning, and its not solely because of poor salary.
You will also read about the following:
…Tables Have Turned And Employees Now Threaten Employers With Resignation!
… The great Resignation
… 9.3 Million Resignations And 9.3 Million Job Openings In U.S Alone In A Month
… Demography and age Ranges Of Employees Likely To Resign Before End Of 2022
… More Statistics And Gender Difference
… Real Reasons Employees Are Quitting Their Jobs
… Warning Signs For Employers That An Employee Will Resign Soon
… What Employers Must Do
This report, real reasons employees are quitting their jobs but employers don’t know reveals why people are resigning from their jobs in droves. It will also educate employers to know signs an employees will resign and what to do to win them back.
Gone are those days when employers threaten sack on employees. With the advent of technology and tech skills, employees no longer fear to be jobless.
In fact, the tables have turned and employees are now the ones threatening their employers with resignation!
This is because, there are so many jobs right now and getting them too is very easy for employees with the right skills.
So, if you are an employer and threaten an employee with sack, well, you might as well prepare to receive a resignation letter on your table the following morning!
And, if you think such employee will regret resigning, you better think twice because, those resigning are not unhappy. In fact, majority have found themselves in better careers, better pay and benefits as well as better working environments than they left yours. So, calm down.
But, as an employer, have you taken time to really know the reasons employees are quitting? The real reasons?
You should know that it is not as simple as you think the reasons are. Its not the pay or salary as you think.
In fact, most employees actually earn very fat salaries yet they resigned. Others too have quit their fat-paying jobs for lesser-paying ones. so, its not about the salaries per say.
But before we look at the real reasons employees are quitting, let us see what you should know first.
What you should know:
The Great Resignation:
This is a phenomenon that started since the outbreak of the Covid-19 Pandemic. The pandemic saw many people resigning from their jobs in droves.
Because of the massive resignations, the phenomenon became known as The Great Resignation.
Meanwhile, although many businesses had long started either as hybrid, remote or full resumption to the office, the great resignation is still on.
In the US alone, about 4.2 million employees have resigned from their jobs in August 2022 alone. This is even less that in November 2021, when about 4.5 million people quit their jobs.
These resignations have resulted in about 9.3 million new job openings in the U.S alone.
According to the American Bureau Of Labour Statistics, about 10.1 million job openings surfaced in the U.S in August alone.
To further increase the number of job openings globally, PwC’s “Global Workforce Hopes and Fears Survey” found that globally one in five workers may quit their jobs in 2022.
Demography of employees Likely To Resign:
According to the PwCs report, “Global Workforce Hopes and Fears Survey 2022,” the Gen Zs are the most kinds of employees likely to resign.
The report surveyed 52, 195 employees globally who are in work or active in the labour market before arriving at the conclusion.
According to the report, 1 in every 5 employees will quit their jobs before 2022 ends.
Also, the report said the Gen Zs are the most likely to resign from their jobs with 27%.
According to age bracket, those likely to resign at 27 % ratio of the global total are those between the age brackets of 18 and 29 years.
The Millennial comes second with 24 % likely to resign before 2022 ends, that is, including those who have already resigned.
In terms of age bracket, those under the millennial to still resign fall between the age brackets of 26 and 41 years.
Coming third are those under the Gen X workers. These are employees under the age brackets of 42 to 57.
the percentage of this group to resign before 2022 ends is 15%. So, expect long time Engineers, top managers and directors, very experienced experts in your companies to resign before the end of 2022.
And if you are the CEO of your company, you better plan for these sudden great resignations, lest your business is greatly affected, if not at the risk of folding.
Finally, the last group of employees with the least percentage to resign this 2022 is the Baby Boomers. These are employees who fall under the age brackets of 58 to 76.
At 9%, these employees will quit their jobs before the end of 2022.
Reasons Employees Are Quitting Their Jobs:
If you are an employer and don’t know the reasons employees are quitting their jobs despite the pay rise, then continue reading this.
Although salary increment is a one of the major reasons employees are quitting, it is not the sole aim.
Below are the many and serious reasons employees are quitting from their jobs in 2022.
Employees are factoring in their well-being as reasons for either working or quitting their jobs.
Most employees now want a working environment that takes their well-being seriously.
In the face of pandemic and exposure to infections, stress, dangers to life due to work, mental health, bullying at work places and horrible bosses, employees don’t want those, regardless of the fat salary.
Also, many want the flexibility of choosing when and where they work while those returning to the job market want jobs that will offer limited commute to offices, work-life balance and jobs that align with their values, be it social, religious or otherwise.
Similarly, some of the employees who want to resign say they don’t get to bond well with their colleagues at work places.
This is as a result of less or no time to discuss social and political issues between and amongst themselves.
Employees who have time to discuss social and political issues often seem to want to continue with the jobs.
41% of the respondents said such discussions allowed them know their colleagues better.
34% of the employees said such conversations creates a more open and inclusive work environment that keep them on the jobs.
Also, 32% and 31% said such conversations on social and political issues make them process their views and be confident to share such views, respectively.
2: Ability to learn:
Employees want to learn new things and be creative with their jobs. Where there is no room for learn or improvements, employees tend to quit.
The job an employee does daily should teach him or her new things or skills. They should be in constant learning of new things. This will make the job fresh.
Assigning new roles that are realistically easy to adapt in as well as being interesting, though challenging, is what keeps the job fresh.
but doing same thing daily for many months and years becomes tiring, and hence, employees become disinterested and start looking for newer jobs that are though challenging but friendly.
The report said about 44% of Gen Zs are concerned about not getting enough trainings especially on digital and technology skills from their employers while 29% Baby Boomers fee same too.
3. Fear that technology will take their jobs:
Majority of employees are quitting their current jobs because they fear technology and its advancements will take their jobs.
The fear of losing their jobs because of tech is pushing other employees to quit their jobs.
However, one development about this reason is that those resigning because of the fear of tech are going to upskill with tech skills.
Of this reason, Gen Z who fear that their job roles will be taken over by technology are 38% while Baby Boomers are 19%.
4: Horrible Bosses:
Most of the employees are not leaving their jobs but are instead, leaving their bosses or managers.
Some bosses or managers fall under the category of horrible bosses!
They treat employees as if such employees are at their mercy. horrible bosses also threaten employees with sack or go ahead to deduct from their employees’ salaries over issues.
Likewise, some horrible bosses don’t respect their employees’ private and off-work hours. Instead, they send tasks to their employees even on weekends and public holidays or at odd hours such as mid nights, very early in the mornings or late evening and nights.
5: Pay Raise Or Salary Increment:
Salary is among the reasons employees are quitting their jobs. While some say their salaries are not commensurate with their efforts, others say lack of pay raise or salary increments is the reason they want to quit.
A company where employees’ salaries have remained the same for many months or years will see many resignations before the end of 2022.
According to the PwC report, about 71% of those surveyed cited pay as the key factor behind their decision to change jobs.
Although most employers could think that transactional needs are among the reasons employees are resigning but that’s not the only reason.
Transactional needs such as compensation, work-life balance, and physical and emotional health.
However, those are not the only reasons.
6: Not feeling valued by their organization:
Most employees either resigning or who want to resign say they don’t feel valued by their organizations.
They feel their organizations value other employees but don’t value them.
For instance, in some organizations, some employees tend to get more promotions, more salary increments and more job perks than others.
Especially during festive periods, some companies share gift items such as bags or rice and other things.
However, they either not give other employees or that such employees get just meagre gifts as against others despite playing major roles in the same organization.
This breeds rancour and jealousy amongst employees.
Sooner or later, such employees begin to feel they don’t belong in such organizations.
Generally, according to the report, 44% of employees likely to resign say they are less likely to find fulfilment with their current jobs.
47% of them said they are less likely to be their true self on their current jobs so, they want to resign.
38% said they are less likely to be fairly rewarded financially over their work, so, they want to resign.
Furthermore, 43% said they think their team members don’t care about them so, they want to resign while 41% employees want to resign because their employers or bosses are less likely to listen to them.
Out of those who would likely resign, women are 11% likely to resign than men and the reasons are not far-fetched
This is because, women feel less likely satisfied with their job pay than men. They are equally less likely to ask for a pay raise or promotion than men.
Also, women are equally less likely to feel listened to by their bosses than men.
The report said only 38% women employees feel fairly less likely rewarded financially by their bosses or employers than men at 45%.
Similarly, 39% women are less likely to feel their employers listens to them than 47% men feel same.
However, while 26% women are less likely to ask for promotions, 34% of men feel same too. similarly, 31% female employees are less likely to ask for pay raise than 385 men.
Signs Employees Want To Resign:
There are signs employers can look out for to detect when an employee is fed up and may resign.
1: Behaving differently than in the past.
When an employee suddenly begins to behave differently than he or she did in the past, then know that such could be your warning sign.
after employees come onboard the organization, they tend to give in their best. This culture will continue until fatigue and disinterestedness sets in.
When employees’ work ethics changes to be less than it usually is, then pay attention as an employer.
Otherwise, that employees could submit his or her resignation letter sooner or later.
If someone used to be a very hard worker but is now just doing the minimum and sometimes misses deadlines, that’s a big sign that something is not right.
The HR should act on this immediately to unravel the cause.
Also, are the employees coming to work later than they used to? Are they leaving earlier than they used to?
Also, are they taking more days off work?
Are they missing deadlines and targets more often? These are warning signs they are fed up and may want to resign.
2: Do they speak up less in meetings?
If employees suddenly begin to speak less during meetings than they used to do, then something is wrong.
3: Less Likely to volunteer for new projects and show less enthusiasm:
When employees begin to withdraw and be are likely to volunteer to work on a new project, or if they begin to show less enthusiasm to work, then that is your warning signs.
Act on it asap!
4: Employees becoming more vocal about their dissatisfaction:
Employees tend to speak to their colleagues about their work. When ever they also become more vocal about their dissatisfaction to work, then there is a problem.
that is a warning sign they are fed up and resignation is imminent.
5: Pleasing company leaders matters less to them:
When an employee who used to be very passionate about ensuring the company succeeds suddenly changes, then that could be a waring sign.
If they stop caring about pleasing company leaders, then know that they also don’t give a hoot about leaving the company.
They could drop in their resignation letter sooner or later.
6: They are less available to colleagues:
What about when employees suddenly become less available to other colleagues? It could mean they are withdrawing their services gradually.
So, that is surely a warning sign too. Expect resignation letters sooner or later.
Now that you know the many reasons employees are quitting, as a good employer who needs his or her employees, you need to act on these.
Pay more attention to your employees and watch out for these warning signs. When you see them, activate ways to tackle them using a win-win model.
By doing so, you will continue to have great productivity and make generate more revenue.
Employees too will have a sense of fulfilment in their jobs and not quit.
Ensure you adopt lucrative means as well as create a conducive atmosphere for employees to balance work and life.
Pay a listening ears to employees and do a periodic review of their salaries and tasks to keep them motivated to continue with their jobs.