US-based jobs portal Glassdoor.com has shed some light on the age-old question – why do workers leave jobs? The study conducted by Glassdoor Economic Research found employees that stagnate in a job too long are more likely to leave their employers rather than move to a new role within the company.
Glassdoor analysed more than 5,000 job transitions from resumes submitted to the site and combined that data with company reviews and salaries shared by employees to understand the statistical impact of various factors on employee turnover.
The old adage used to be that people leave managers, not jobs. But these results suggest that may not necessarily be the case.
Employee satisfaction, better opportunities for career advancement, the quality of an employer's culture and values and higher pay lead to better employee retention. However, workplace factors like work-life balance, senior leadership and the quality of compensation and benefits packages have seemed to have no statistical impact on employee turnover.
Increase in pay equals increase in retention
According to the study, when changing jobs, employees earn a 5.2 percent pay increase on average when they make a job transition. The statistical analysis in this study found that a 10 percent increase in base pay increases the odds an employee will stay at the company by 1.5 percent.
Job stagnation leads to high turnover
While the average worker spends 15 months in one role, employees differ when it comes to the industries in which they work. Workers in government (18.6 months), aerospace and defense (17.3 months) and media (16.9 months) spend the most time in their roles, while employees in real estate (13.3 months), biotech and pharmaceuticals (12.7 months) and construction, repair and maintenance (10.6 months) turn over more quickly.