Why do people stay or leave your organisation?Posted on the 27/6/17 by Drew Corby
Attracting and retaining top talent has fast become one of the biggest issues facing organisations. A range of contextual factors has led to this issue including:
- Appeal of the startup and social enterprise sectors
- A desire for greater flexibility and work on ‘our terms’
- People wanting a greater sense of mission and purpose
- Wanting to create social impact and change through work
These factors have led talented employees to have more opportunities than ever in how they structure their work and career.
We know that young people are changing jobs or thinking about changing jobs roughly every 2-3 years and that employee turnover and replacement is one of the highest costs for organisations annually. In a previous blog, we estimate an average annual cost of $150,000 at minimum.
This means that the intangible offering of a job such as ‘sense of mission and purpose’ and ‘social impact’ are now more important than ever in creating job value for employees.
Purpose-driven organisations have healthier and stronger workplace cultures, a stronger ability to attract and retain young talent and produce higher productivity and financial outcomes over time.
Join Purposeful for an interactive workshop at the Small Business Festival Victoria on 3 August 2017, where we will help you to learn and apply strategies to improve your employee value proposition, keep more of your talented people and reduce your costs.