When your star employees begin to realize that the only way to upward mobility is out, this can cause some serious retention issues for your organization. According to a report by Gallup, 51% of employed adults in the United States say they are currently also searching for new jobs or watching for new job opportunities. This means that half of the employees at your organization are at risk of turnover. But what is the cause of employees leaving your company?
One of the top reasons for leaving given by employees is that they are frustrated with their career progress. Above all other considerations, millennials rank opportunities to grow in a job as the most crucial factor. 69% of non-millenials say that this is also important to them when looking for a new job.
This means that employees tend to leave organizations when they are not able to see a developmental path forward, and instead choose companies that do show them a clear path forward. So why can’t your employees see a future with you? The problem might lie with talent hoarding.