Some very interesting data is revealed in a new study, the "2006/2007 Strategic Rewards Report: Aligning Rewards with the Changing Employment Deal" published jointly by Watson Wyatt Worldwide and WorldatWork. (full report is available to members only). In the study, both top performing employees (those recently rated either "exceeded expectations" or "far exceeded expectations" by their managers) and employers identified the reasons that top performers leave an organization.
As highlighted in the summary statistics below, top performers identify pay as the #1 reason (cited by 71%) that they would leave an organization, while only 45% of employers think this is true. Note that other items where employers are off the mark include the importance of healthcare and retirement benefits as well as the importance of the supervisory/management relationship.
REASONS WHY TOP PERFORMERS LEAVE AN ORGANIZATION, ACCORDING TO TOP PERFORMERS
- Pay 71%
- Promotional opportunity 33%
- Work life balance 26%
- Stress 24%
- Career development 23%
- Health care benefits 22%
- Length of commute 18%
- Nature of work 18%
- Retirement benefits 17%
- Company culture 13%
- Relationship with supervisor/manager (8%)
REASONS WHY TOP PERFORMERS LEAVE AN ORGANIZATION, EMPLOYERS' VIEW
- Promotional opportunity 68%
- Career development 66%
- Pay 45%
- Relationship with supervisor/manager 31%
- Work life balance 25%
- Company culture 10%
- Stress 8%
- Nature of work 8%
- Length of commute 4%
- Retirement benefits 2%
- Health care benefits 0%
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