HBR IdeaCast
The Real Reasons Employees Quit — and How to Retain Them
Oct 22, 2024
Ethan Bernstein, an Associate Professor at Harvard Business School, and Michael Horn, Co-founder of the Clayton Christensen Institute, delve into why employees quit and how to retain them. They discuss the complex motivations behind turnover, challenging common misconceptions. The duo emphasizes the importance of proactive management and ongoing career conversations. Their insights include innovative job descriptions and a collaborative toolkit to bridge the HR-manager gap in retention strategies, leading to more engaged employees.
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Quick takeaways
- Employee turnover is influenced by a variety of factors, including corporate culture and career alignment, rather than solely individual performance.
- Organizations must shift their retention strategies from superficial incentives to a deeper understanding of employees' motivations and needs.
Deep dives
Understanding Employee Attrition Factors
Research indicates that employee turnover can be driven by various factors beyond individual performance or managerial shortcomings. Issues such as corporate culture, lack of promotional opportunities, and financial compensation often influence employees’ decisions to leave. This nuanced understanding emerged from a study over several years involving interviews with numerous job switchers across industries, revealing that many factors play a role in the decision to change jobs. Recognizing these elements is critical for organizations aiming to improve employee retention strategies.
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