There’s a lot of talk out there about what’s causing the mass exodus of people leaving their jobs – aka, The Great Resignation. An MIT professor, a business founder, and a CEO all came together to find the real answer for this. They published their findings inarecentMIT Sloan Management Reviewarticle.
The researchers gathered data from more than a million “Glassdoor” reviews and what they discovered was that The Great Resignation isn’t necessarily about pay. This contradicts reports that focus on how employee dissatisfaction with wages is mostly affecting The Great Resignation. Here’s why employees actually leave:
- Toxic culture. This can include a lot of things like workers feeling, disrespected, undervalued, and a company's failure to promote diversity, equity, and inclusion.
- Job insecurity and reorganization. It turns out feeling like you could lose your job at any moment is a good reason to leave and go get another one.
- High levels of innovation. This can be great for the companies themselves but challenging for their employees which causes burnout.
- Failure to recognize performance. People want to be recognized for their hard work. Sometimes a paycheck isn’t enough.
- Poor response to Covid-19. Companies that failed to handle the pandemic and its effect on their workers properly are feeling the consequences now.
Being underpaid sucks but being treated with disrespect and underappreciated by your colleagues sucks even worse.