May 2022 Newsletter I QUIT ! Poor work culture
May 2022 Newsletter
I QUIT! Poor work culture
Employees are quitting their jobs in record numbers. Why? Most will tell you it’s because of their manager/supervisor or the overall vibe at the company.
Workers who quit a job in 2021 said they left for the following reasons: low pay (63%), no opportunities for advancement (63%), and feeling disrespected at work (57%). At least a third said all three were major reasons why they left, according to the PEW Research Center.
Researchers studied huge amounts of data, including turnover from April to September 2021, Glassdoor reviews of companies over the last few years (including before the pandemic), and 172 culture metrics at roughly 600 companies. They found that a toxic work culture was the biggest reason people decided to quit. In fact, it was ten times more important than pay.
High employee churn is expensive for any business. The cost of fully replacing one employee is estimated to be about $40,000, including advertising, recruitment fees, the time it takes to train a new staff member, and lost productivity. And if the best and brightest people at a company are constantly jumping ship, the damage will be much worse.
According to other experts on employee turnover, the following factors cause people to quit:
– A lack of appreciation
– Feeling burned out
– Lack of flexible work options
– Wanting to work remotely
– Poor mental health
– Relationship with management
– Corporate culture
– Lack of engagement
– Unhappiness at work
– Lack of career growth
Out of all the reasons why people quit their jobs, the hardest for me to comprehend is a lack of appreciation. This is something that employers and coworkers can change immediately or as soon as they decide to do so. Most of the other reasons for quitting will be nonexistent if an employee feels appreciated.
I can’t imagine any of my 350 coworkers at DEEB Realty not feeling appreciated, and if it did happen, then shame on me. Why do I say that? Because I was the leader, the CEO. If someone at my firm felt unappreciated, it all started with me and the culture I created. If we want to create a culture of happiness, harmony, and appreciation for our coworkers, then we all need to get our PhD in employee appreciation.
In addition to being a motivational speaker, I spend a lot of my time working as a culture consultant for companies of all sizes in a wide range of industries. Based on my experience, these facts and research hold true.
If you feel your company could use an outside voice to help you reach your full potential, then let’s have a conversation. I know I can help. You will be amazed at how quickly a company can turn around when the right solutions are put in place. Let’s make your work environment the BEST it can possibly be. Contact me today!
If not now, then when? And if not you, then who?