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LinkedIn Uncovers Why People Switch Jobs

Switch Jobs

To retain top talent – and attract new employees – it’s important to understand why people leave their companies.

October 15, 2015 – LinkedIn recently analyzed the job-changing behaviors of 7 million of its members, discounting those who were promoted or transferred within their companies. Then they grouped the remaining job-changing members into various groups, finally surveying 10,536 people who changed companies between December 2014 and March 2015.

The survey uncovered the top two reasons people leave their companies:

  1. 45 percent cited lack of career advancement, while 59 percent say a new company offered a stronger career path, making it the No. 1 reason why people look for new job opportunities.
  2. 54 percent cited salary – and almost 75 percent of respondents say they were paid more in their new job.

Some other interesting findings:

  • Large organizations with more than 5,000 employees are losing talent, scooped up by smaller companies with fewer than 500 employees.
  • Tech, healthcare and oil & energy industries are attracting talent, while professional services, government/education/non-profit and retail and consumer products are losing out.
  • A third of those surveyed changed careers, while 66 percent made lateral moves to a new company.
  • Women are more likely than men to leave a job because of unhappiness with senior management, dissatisfaction with the work culture and a poor work/life balance.
  • Millennials leave a company because of career management opportunities, while Generation X and Baby Boomers cite dissatisfaction with leadership as the main reason why they switch jobs.

How to motivate people to change jobs

  1. Appeal to the No. 1 motivation for changing jobs – career opportunity not compensation. Describe the work and expected results, not the background requirements and personality traits to be checked off.
  2. Tailor your message for Millennials, Gen X and Baby Boomers. Sell Millennials on how you can satisfy their hunger for advancement and challenge. Attract Gen Xers on the quality of your senior management and the inspirational direction of your organization. Woo Boomers who are interested in sticking within the same industry.
  3. Engage women by highlighting your organization’s quality leadership, culture fit and work/life balance. However, be sure to back up your promises once the women join your company.
  4. A whopping 1 in 3 people surveyed changed careers, so be open to recruiting them. Assess how their transferable skills and accomplishments can be applied to your company.
  5. Infuse your message with examples of opportunities. Be sure to survey your current employees to craft messages that will resonate with future employees.

Retaining top talent
Forty-nine percent of respondents say the main obstacle to changing jobs is not knowing what the new job will entail. And even more surprising: of those who changed jobs, 42 percent could have been convinced to stay. To retain top talent you should treat them as you would an employee you are recruiting.

For example:

  • Outline strong career paths and highlight advancement opportunities that are available.
  • Value your workforce by developing competitive compensation and unique lifestyle benefits.
  • Recognize and celebrate employees’ accomplishments.

Investing in your top talent daily: Priceless!

  • National Association Executive Recruiters
  • National Association Personnel Services
  • Foreign for Expatriate Management
  • Society for Human Resources Management
  • Worldwide ERC
  • Women Business Enterprise National Council
  • Southeast Regional Relocation Council
  • Chicago Relocation Council
  • North Texas Relocation Professionals
  • Houston Relocation Professionals
  • Tennessee Relocation Council
  • Midwest Relocation Council
  • Metro Atlanta Relocation Council