Should I Stay or Should I Go? The Top 10 Reasons Why Employees Do and Don’t Quit

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If employee retention is a focus area for your organisation, you may want to consider asking this question during the discussion phase when giving your next employee performance review:

“What would it take for you to leave?”

Why wait until an exit interview to determine why an employee decided to leave? Engage your good performers when the opportunity presents itself and find out what might cause them to leave before they really do leave.

In fact, you may want to do it sooner. You might be very surprised at the responses you hear. Many of your employees will not be able to think of a reason they would leave, which says a lot about your organisation. And those that do respond with reasons they would consider leaving your company provide valuable insight into how you can make improvements to retain your most valued employees.

Over 17,000 employees from a range of organisations were asked why they stayed in their jobs.* 

The Top 10 responses were:
Exciting work and challenge
Career growth, learning and development
Working with great people
Fair pay
Supportive management/good boss
Being recognised, valued and respected
Meaningful work and making a difference
Pride in the organisation, its mission and its products
Great work environment and culture

Conversely, a study** of nearly 20,000 job leavers revealed some rather intriguing facts:

The myth: 89% of employers believe that employees leave because of money.
The reality: 88% of employees leave because of things other than money.

Here are the top 10 reasons employees quit:
Limited career opportunities 
Lack of respect/support from supervisor 
Lack of interesting/challenging job duties
Lack of leadership from supervisor 
Bad work hours 
Unavoidable reasons 
Bad employee relations by supervisor 
Favouritism by supervisor 
Lack of recognition for contributions

It’s often assumed that pay is the chief lure for an employee to jump ship.  However, that is clearly not the case.  Even if you’ve had to freeze salaries over the past couple of years, if you can provide your employees with challenging work, give them the opportunity to learn and grow, and have created a work environment of support and camaraderie, you have a very good chance of being able to retain your top performers.

* Source
** Source