Stop Quitters in their Tracks
Now that the economy is firming up, workers are feeling their oats and quitting their jobs again to find greener pastures. In fact, the Labor Department recently reported that the number of people who quit their jobs rose three percent between December 2014 and January 2015 to 2.8 million – the most in more than six years.
The rising number of quits has begun to affect many larger corporations. Frank Friedman, interim CEO at the consulting and auditing firm Deloitte, says his firm’s clients, which include about 80 percent of the Fortune 500, are increasingly struggling to retain employees.
“The biggest problem for many businesses is talent retention,” Friedman says. “Wages are a critical component of it. The balance of power has changed in favor of the employee.”
Deloitte itself faces the same challenges. It’s stepping up its hiring, in part because more of its employees have left for other jobs.
The firm plans to add 24,000 people this year, including paid internships, to its staff of 72,000. That’s up from the past several years, when Deloitte typically hired 19,000 to 21,000 people, and the increase is largely to make up for more quits.
People Quitting People
So, why do people quit? According to a report by Forbes, “people quit their bosses, not their jobs,” and they do so for these reasons:
- A top performer becomes overloaded with too many responsibilities because of staffing shortages or additional production needs. And after production needs slow down, the boss doesn’t redistribute work accordingly. The top performer ends up receiving more work, as opposed to higher-level work.
- A top performer is micromanaged.
- The boss is never around, seldom available, or doesn’t check in enough.
- The boss picks favorites to give undeserved accolades, or promotions to favorite employees. Maybe it’s because this person doesn’t really click with the high-performing worker, or perhaps it’s because he or she is simply not in touch with where the talent really lies.
- The boss never gives his or her people a sense of where their careers can go long-term.
- The boss runs terrible meetings, or never has them at all.
- The boss appears to care more about him or herself than the team. He or she acts “above” team members.
- The boss does not provide a big-picture vision, the vision is unclear, or the vision changes too frequently.