How do millennials ruin the workforce
Why do employees quit? 19 Studies & Statistics You Should Know In 2021
Every sixth employee in Germany has already given notice internally.
Only 16 percent of employees feel connected to their employer.
Employee retention is different.
The Gallup's Engagement Index, for example, mercilessly calculates the HR work of German companies every year.
If you think of the work ethic and loyalty of the older generations (baby boomers and Generation X) and contrast today's high employee turnover, you inevitably come to the question:
Why do so many employees quit?
Every termination increases the turnover rate - and turnover costs money.
Right - a lot - money.
As a HR manager, you can offset between 90% and 200% of the divorced employee's annual salary against entrepreneurial costs per termination and subsequent recruitment.
Gallup estimates the economic costs of employee fluctuation in Germany at up to 118.4 billion euros annually.
- A whole generation that exposes grievances
- Studies & statistics on reasons for dismissal
- Summary: How do you prevent layoffs?
- Conclusion: act instead of rolling over statistics
A whole generation that exposes grievances
So where does the trend for the grass in the next business come from?
That the next boss is more sociable and the next job more satisfying the search for meaning in work?
Let's take a look at the generation that is the first to be pilloried when it comes to fluctuation: Millennials or Generation Y.
As lazy and with poor work ethic The frowned upon labor market generation born between 1980 and 1995 is considered the number 1 job changer and the kryptonite of personnel key figures.
Are you really more fickle than other vintages?
We claim that the reasons are much more profound.
The Y of Generation Y stands for the English pronunciation - "why".
This is due to the fact that these contemporaries, also benefiting from the digital age, have begun to question the world.
In this context, this applies particularly to the world of work.
Laws that had never been questioned before suddenly became fluid and transparent across all borders thanks to social media, comparison portals and exchange:
- How did others experience my employer before me?
- Is my company committed to the common good as it states?
- Are the working environment and the working atmosphere really what was promised in the job advertisement?
- Who lived the leadership guidelines, adorned the walls and website, or did the new boss dictate from above?
- Is it like this "as we have always been doing heren “really the best and most efficient way?
Why does this company exist - what is the deeper meaning?
And suddenly people are exchanging ideas about everything and everyone.
At Kununu, even industry leaders receive sometimes miserable employee reviews.
This makes it possible for every internet user to see what is going wrong in their business.
High time to get to the bottom of the biggest grievances.
But it is also time to provide guidance on what your company should urgently do better and differently.
You want to understand why employees leave your company - and then strengthen your employee loyalty.
Why do employees quit? 19 studies and statistics on the topic
- More empathy from the manager would 92 % Get all employees to stay with their employer. In words: ninety-two percent. (Source: Business Solver)
- 43 % of over 2,000 employees give the Corporate culture as the main reason for why you want to change jobs (source: Hays)
- A more flexible job according to FlexJobs 82 % of the employees surveyed ensure more loyalty and less desire to quit
- 37 % of the employees who had already emigrated took up the new position because they are now partially work remotely or from the home office can (also according to Gallup)
- 70 % out of 2,000 employees surveyed would leave their job and employer if it came on powerful and fast communication is lacking. (Source: Jive Communications) The Corona Virus is likely to have further fueled this trend.
- 62 % of Millennials are ready to quit their jobs in the next two years, according to Deloitte as a freelancer to work (keyword: lack of career opportunities)
- 71 % of employees would accept a wage cut in order to get a better job. (Source: Hayes)
- As often described, it's not the money: In fact, quit according to CareerBuilder.com just12 percent of all employees their jobs because they earn more want
- 89 % the bosses in turn believe mistakenlythat their ex-employees because of the money quit (Source: Leigh Branham: The 7 Hidden Reasons Employees Leave)
- Employees in their Strengths and skills by employers or even more so by their manager empowered cancel with a 15% lower Probability their job (source: Gallup)
- 76 % of the workers surveyed in a Lifeworks survey are looking for a new job if they are at the current job do not feel valued.
- No prospect of progress are at over 70 % of all employees with a "high risk of dismissal" the reason why you want to quit your job (source: Willis Tower Watson)
- Generation X employees (born between 1961 and 1980) feel this highest stress level and therefore risk group number 1 to quit your job (source: Hayes)
- Bad onboardingdoubles the probability from early employee turnover. (Source. Digittate)
- According to Gallup, employee engagement lowers the rate of employees who wish to quit 59%.
- According to Robert Half, one leads strong learning culture leads to an increase in employee loyalty 30-50 percent.
- 60 % of millennials have worked in 2 to 4 different companies, 43 percent of these from O.C. Tanner respondents feel that their Company only interested in financial well-being.
- 42 % of Millennials, who have worked in so many companies, believe that their work makes one enormous stress caused. 36 percent are of the opinion that their work negatively affects their health.
- 30 % of the employees surveyed would consider quitting if they were at work, according to One4All unhappy would be. 79 percent of workers said their Supervisor yourself don't care about employee satisfaction.
Summary: How do you effectively prevent layoffs?
#1. Corporate culture is the key.
To retain their best employees and top performers, companies need to have theirs Take culture seriously.
The environment, rules, teamwork - just how you do and see things in this business - are extremely important when employees make decisions for or against an employer.
# 2. Work-life balance has never been more important.
Employees don't want to live at work and be consumed by their work.
trustthat they can work from home, in a coffee shop, or anywhere.
Provide the necessary Framework - and they will with Productivity, engagement and recommendation be rewarded by your employees.
# 3. Employee engagement serves as an indicator.
Employees want to love their job and their business.
They want to know what they are doing is valued and important.
# 4. Millennials know how to be productive.
Unhappy employees are unproductive employees.
Millennials only demand what Generation X, and baby boomers probably didn't dare ... Respect, meaning, feedback and happiness.
# 5. Salary is not the problem.
Of course, employees generally want to make more money, but it's not nearly as big a reason as we thought, especially no reason for termination.
Conclusion: act instead of rolling over statistics
You now have enough numbers, data and facts.
So save yourself time-consuming employee surveys that would only corroborate the results.
Do not lose yourself in mountains of numbers when it comes to “Terminations by the best employees”; when it comes to fluctuation, every day counts.
So start yourself to change and improve as a company and management level.
For your first meeting on the topic, we will give you a few questions to take with you. And then it's time to get to work and not lose any more time.
Make sure that every employee a personal interview gets with his supervisor.
If your management level is not trained for this type of employee appraisal, organize appropriate leadership coaching, especially in people management.
For managers: Then listen actively and ask your employees ...
- whether he / she is familiar with the current situation happy is.
- whether he / she his / her work as makes sense deems
- whether and if so how you do that Corporate culture should improve
- whether you want the best technology provided to get the job done right.
- according to his / her Work-life balance and whether this can be improved.
- Like his / her opinion and desires too Remote work and flexible working hours are
- whether he / she is at work valued feel
- whether he / she the job and the Love companies
Collect the impressions, notes and results. Make sure Action and action plans together. Act based on the results instead of reacting to layoffs and high fluctuation.
If you lack resources, please contact us.
I wish you success!
More on the topics of employee loyalty and recruiting:
- HR metrics: How to determine the 11 most important metrics and influence them in your favor (2021 update)
- Recruiting: How helpless employers become applicant magnets
- Why employee fluctuation is not rocket science - checklist for successful retention management
- How to increase your employee loyalty - 3 simple steps, also applicable in the case of high fluctuation
- How to reduce your fluctuation and retain top performers (measures and checklist)
- Vacancy time - when vacancies ruin businesses and how the Netflix model delivers solutions
This article is about:
- Reasons for termination
- Leadership behavior
- People management
- Vacancy time
- Recruiting metrics
- Personnel indicators
- Employee retention
- Vacancy rate
- Fluctuation in companies
- Generation conflict
- New acquisition
- Unwanted terminations
- Employer branding
- Retention management
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