High turnover is never a good sign. High turnover is especially bad when companies begin to lose their best and brightest. LinkedIn recently conducted a study which indicated that 59% of employees seek new career opportunities at smaller establishments. While some top tier companies are wondering why their employees would seek a more intimate setting, and in some instances even a pay cut, the answer may be very clear. Here are 3 reasons your top talent is jumping ship for smaller boats.
1. Talented, experienced employees see through the hype.
After years in a particular industry or niche, most talented employees are going to understand that every day working at any company won’t be filled with sunshine and butterflies. If you’re trying to sell potential or new employees on how amazing it will be for them to work at your company without the slightest mention of daily grit and grind, you’re going to give off the impression that what you’re selling is “too good to be true.” And as our mothers always said, “if something seems too good to be true, it usually is.” Building an employee brand with honesty and transparency has become increasingly important to the modern day worker. Make sure that if you have a particularly large staff that your HR and Marketing teams are on the same page regarding employee brand.
2. Gone are the days of the typical 9-5 employee.
Although navigating the job market continues to prove difficult, sophisticated job seekers no longer find a typical 9 to 5 job appealing. They no longer want to simply clock in, stare at the dull grey walls of a cubicle, then clock out at 5. They seek thrill and meaning in their work. This isn’t to say employees necessarily want to work less hours, but more so, they want to truly feel as though they are part of a team. Instead of working “for” and employer, they’d rather work “with” them. Especially with the cost of education constantly rising, even recent graduates want to feel valued for their contributions.
3. Poor Office Culture.
Tying in both concepts of a strong employee brand and collaborative workforce, many employees are seeking companies that provide a fun and engaging office culture. If you think about it, most Americans spend more time at work than they do at home. Because of this, employees are jumping left and right at job opportunities that not only provide strong benefit packages but also perks. This is the main reason talented employees are neglecting corporate jobs for small startups. If a startup cannot offer comparable pay, they usually offer a number of perks ranging from company outings, free gear, unlimited product use, or top of the line technology.
In order to succeed, big business may have to rethink how they treat their top talent.