A report on employee retention has shown that 42% of employees are likely to leave their job within the next three to six months.
Humanyze, a global workplace analytics provider, released its Spring Employee Retention Report, which sheds light on what leads to employee turnover.
It includes results from a March survey of thousands of US employees and managers, and findings from a behavioural data analysis on the drivers of retention.
The report states that leaders must get to the bottom of what drives engagement, productivity, and success. In addition to just under half of employees at risk of quitting, 52% of management expects higher attrition rates in coming months.
When asked what influences their decision to stay at a job besides salary or benefits, both groups cited flexibility and hybrid/remote work options as top priorities. Employees also consider access to their direct manager (27.9%), team/department colleagues (24.6%), and company leaders/mentorship (23%) as important factors in the decision.
Along with the motivators behind employee turnover, the survey also asked about the pandemic’s impacts on work. Employees likely to quit cited “work-life balance”, “time spent in meetings”, and the “ability to focus on/do their own work” have been negatively impacted during Covid-19. Almost 20% of this subset also state that their company has not introduced measures to improve retention over the past year, raising concerns that some companies aren’t adapting to workforce needs.
Ben Waber, Humanyze’s president and co-founder and a speaker at past IWFM conferences, said: “Flexibility and remote work are understandably top of mind right now... However, it’s critical to educate organisations and leaders about how collaboration impacts an employee’s experience and, ultimately, their desire to stay or leave. To thrive in this new era of work, managers need tools that help them inform decisions with their team’s best interest and performance in mind, while giving them the flexibility they desire.”
Last month, Humanyze surveyed 2,000 full-time US employees and managers. It compared survey results with anonymous collaboration data from The Humanyze Platform, which has measured more than 1 million workplace interactions since the start of Covid-19, and at least 20 billion workplace interactions in the past decade. Data from Humanyze’s data analysis measured a subset of anonymous data from multiple clients for more than 27,000 full-time employees, 858 teams (of up to 500 people), and 3,000 locations.