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February 2015
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February 2015
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Retention Rates Tied to Growth Opportunity

Thursday, February 12, 2015

Salaries aren't everything when it comes to retaining employees. Reasonable opportunities to learn and grow are critically important in making sure top performers stay on board. It makes sense that the majority of workers leave their jobs for better opportunities. A Deloitte study found that only 35 percent of employees expect to remain with their current employers for the remainder of their careers, and these numbers are dropping every year. The primary reason for leaving, the study found, had nothing to do with benefits or salaries. Instead, the vast majority of exiting employees cited lack of growth opportunity as the major reason for leaving. According to the report, “Since companies can easily match compensation packages, Deloitte believes companies can differentiate themselves in the talent marketplace by going beyond financial incentives and creating customized retention strategies that address issues such as career advancement and greater recognition.”

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