Why your top talent is leaving in 2014, and what it’ll take to retain

Planning to quit your job this year? CareerBuilder asked 3,008 workers that very question–and found out who is most likely to change jobs in 2014, what employees value most in the workplace, and what ultimately entices them to stay.

Planning to quit your job in 2014? According to a new survey from CareerBuilder, you’re most likely jumping ship because you’re dissatisfied with advancement opportunities at you current company or you feel underemployed.

If you were planning to quit, what would it take to persuade you to stay? Better benefits? A bigger paycheck? More flexibility?

CareerBuilder found the answers.

A new survey shows that while 59% of workers are generally satisfied at work, one in five (21%) said they plan to change jobs this year or next. But it turns out employers may be able to retain those valuable workers by offering them what they want most.

CareerBuilder conducted a survey among 3,008 workers nationwide to find out who is most likely to change jobs in 2014, what employees value most in the workplace, and what ultimately entices them to stay with their employers.

“Not recognizing what’s important to employees can translate into more job dissatisfaction, lower productivity, and higher voluntary turnover,” says Rosemary Haefner, vice president of Human Resources at CareerBuilder. “It’s critical that companies regularly take the temperature of their workplace and survey employees to identify where the company excels in providing a positive employee experience as well as opportunities to improve.”

CareerBuilder asked respondents who plan to stay put the top reasons for not wanting to leave their current job. Fifty-four percent said: “I like the people I work with.” Half of all respondents said it’s because they have good work/life balance. Another 49% said they’re satisfied with their benefits and 43% were happy with their salary. Other common reasons: uncertainty in the job market, a quick commute, a good boss and feeling valued.

The survey also found who is most likely to change jobs in 2014. Not surprisingly, workers who are dissatisfied with their job overall are most likely to find new employment this year. Of the 18% that said they’re generally dissatisfied, more than half (58%) plan to change jobs this year. Why are they so unhappy? Sixty-six percent cited concerns over salary and 65% said they don’t feel valued.

Others who are likely to leave their job in 2014: workers who are dissatisfied with advancement opportunities at current company (45%), workers who are dissatisfied with their work/life balance (39%), workers who feel underemployed (39%), workers who are highly stressed (39%), workers who have a poor opinion of their boss’s performance (37%), workers who feel they were overlooked for a promotion (36%); workers who have been with their company two years or less (35%), and workers who didn’t receive a pay increase in 2013 (28%).

An earlier CareerBuilder survey from 2013 found that a majority of workers (70%) reported that increasing salaries is the best way to boost employee retention, while 58% pointed to better benefits. More than half (51%) said a more flexible schedule might persuade them to stay, and 50% said an increase in employee recognition (awards, cash prizes, company trips) would do the trick. Others said if their employer were to offer more learning opportunities or academic reimbursement, or if they implemented a casual dress code, they might be inclined to stay put.

In a separate question about benefits in the 2013 survey, 26% of workers said that providing special perks is an effective way to improve employee retention. When asked to identify perks that would make their workplace more enjoyable, 40% said half-day Fridays, 20% mentioned an on-site fitness center, and 18% liked the idea of wearing jeans to work. Others listed things like daily catered lunches, nap rooms, massages, snack carts, and on-site daycare.

One thing that wasn’t so important to employees: Job title. In another survey question from last year, more than half (55%) of respondents said their job title isn’t an important factor in their decision to stay or go. When asked what’s more important than the job title, employees said pay, schedule flexibility, the ability to make a difference, and challenging work, among other things.

“Employees want to feel valued,” Haefner says. “They want to be compensated well; they want to be challenged; they want to contribute to something meaningful; and they want to have a good work-life balance.” –http://www.forbes.com/sites/jacquelynsmith/2014/01/24/why-your-top-talent-is-leaving-in-2014-and-what-itll-take-to-retain-them/