A new report on talent retention reveals how companies can take better care of their top performers, and prevent them from leaving.
The award-winning online training platform for businesses, TalentLMS, partnered up with Dr. Ashley Prisant from Harvard University on a survey about manager retention. The survey report reveals the reasons why managers stay loyal to their companies, and what makes them consider leaving.
These are the key findings:
- 1 in 2 managers are thinking about leaving their company in the next 12 months
- 7 in 10 say they feel undervalued and underpaid
- 43% feel isolated at work after they became managers
- 61% say that the number one reason they stay is that they work well with the people they manage
The top factors that drive managers away, besides being underpaid, are: an unhealthy working environment, not being part of the decision-making process, and insufficient training and development opportunities.
On the other hand, among the top reasons why managers stay at their current companies, besides compensation, are: the people they manage (61%), decision-making power (49%), work-life balance (44%), feeling acknowledged (37%), and training opportunities (36%).
The report also looked into whether managers feel taken care of. As it turns out, 93% have a go-to person, while 7% say they have no one to rely on at work. But Dr. Prisant raises an important point here: “Should others be taking care of managers? Are they doing enough to take care of themselves? A lot of people say ‘my senior people don’t support me’ – but they do nothing to improve their own world.”
Read the full report here: Survey: 1 in 2 managers will leave their company in the next year. What would make them stay?
TalentLMS is the award-winning Learning Management System (LMS) for businesses of any size, looking to deliver first-class employee, partner, and customer training. Professionals in more than 30 industries use TalentLMS to serve more than 1 million users and expand their teams’ potential.
A note from JGA
Thank you very much to Ana Casic from www.talentlms.com for letting us use this fantastic blog post! To learn more about Managerial Retention and other fantastic topics, visit their website!
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