The Phenomenon-High Turnover in Changing Jobs
Nowadays people change their jobs quite quickly. Workers are not as committed as they once were, they tend to move jobs pretty often. While in the past, we may see our parents or grandparents would want to work in the same company for decades. In this article, I will explain the reason why is this happening and suggest ways that may help companies to retain their workers.
The main reason why workers change their job quickly is that simply people can afford to do so. They want more flexibility in their personal time and money is not the most significant part that plays in choosing a job. They may have a broader knowledge about the benefits they may get outside of work, such as getting a passive income from an investment. Workers tend to choose a company that will give this kind of flexibility. They are brave enough to move jobs as they are still able to afford their lives for a period of time even when they are unemployed.
To put it simply, stronger companies allow workers to have more freedom and allow them to be less dedicated to their job choices.
While companies tend to give more benefits or financial incentives, or even health insurance to keep their worker longer, they also need to consider and provide meaning and purpose, the two play as psychological key drivers.
A worker might be willing to be paid less if they find their job fulfilling and not be a burden on their personal time. While they may shift quickly from those who do not value their flexibility as they may find their work-life dull and aimless.
Companies need to open their eyes and shift their focus to finding a more purposeful reason for their workers. Try to put themselves in their shoes and build an interpersonal relationship with the workers, rather than only offering a high salary.
I blabbered quite long here, about how the phenomenon of keeping a job has shifted due to the increase in societal preference and personal wealth. Only when the company realizes that money is not the ultimate and significant part of their retention while maintaining and giving more flexibility is. If they managed to do so, the chance of keeping their staff is bigger.