Workers are on the move and a third will switch today for a better boss
Employees’ intent to stay with their current employers has fallen across the globe in the past quarter. In the UK, 36.9% of people report high levels of intent to stay with the business they work for – one of the lowest figures in Europe. It compares to over 50% of employees in Belgium and the Netherlands, 47% in Germany and 45.9% in the US reporting high intent to stay.
As workers’ confidence to move improves, people are increasingly focusing on working with those they like. Bad managers are now threatening to break into the traditional top three reasons employees leave: dissatisfaction with compensation, future career opportunities, and work–life balance. Considerably, about a third of employees (33%) would switch jobs today knowing they would get a better boss.
Commenting on the findings, CEB executive director Brian Kropp, said:
“Keeping hold of the best people is a challenge for companies worldwide as growth returns and confidence recovers. The adage that people & lsquo;join companies and quit managers’ remains true but for very different reasons today. As every manager supervises more people and spends less time with each individual employee, every minute of that time takes on greater importance. A single bad interaction that would have been insignificant in the context of a long-term healthy managerial relationship day in day out, becomes a real threat when it is one of the very few things your manager has ever said to you.
“Moreover with wages stagnating, more and more people may wish to focus on addressing other elements of their working environment that make it worthwhile – and a good boss is integral to that.
“The lesson to companies is simple – line managers matter. It is not enough to put your best performers in managerial positions. You also have to assess their people skills, their ability to inspire and lead others and their desire to be in the driving seat and become a good manager.”
These statistics are based on recent research by member-based advisory company CEB, highlighting the trends from the firm’s most recent Global Labour Market Survey of approximately 18,000 employees.