About Wellness Corporate Solutions

Friday, November 30, 2007

Job Stress Top Reason for Employees Quiting

Stress was cited as the top reason by 37 percent of the employee respondents in a recent 2007/2008 Global Strategic Rewards study conducted by Watson Wyatt Worldwide
and WorldatWork. Yet,stress does not even make the list of the top five reasons cited by employers. This disconnect has huge repercussions.

Two of three companies worldwide report difficulty attracting top-performing workers, while a full 70 percent reported that they have difficulty attracting critical-skill employees. At 11 percent, the U.S. has the highest median voluntary turnover rate.

Take a look at this:
Top 5 reasons Employees leave
Stress levels - 37 percent
Base pay - 33 percent
Promotion opportunity - 26 percent
Career development opportunities - 23 percent
Work/life balance - 22 percent

Top 5 reasons employers think employees leave
Base pay - 52 percent
Career development opportunities - 47 percent
Promotion opportunity - 5 percent
Relationship with supervisor/manager - 35 percent
Work/life balance - 24 percent

"Worldwide, the frenetic pace of modern business is taking its toll on employees,” said Adam Sorensen, global total rewards practice leader at WorldatWork. “There’s no question that employees are more likely to leave or speak badly of their workplace if they feel overburdened. Companies that take steps to ensure that stress levels are not onerous will save money in the long run by reducing attrition."

As long as employers misunderstand the reason that employees are leaving, the steps they are currently taking to retain and recruit employees might not be the right steps.

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