28% of global workers eye exit within a year — survey

MASSACHUSETTS, UNITED STATES — More than one-quarter of employees worldwide plan to leave their current job within a year, according to a study from global management consulting firm Boston Consulting Group (BCG).

BCG surveyed over 11,000 employees across eight countries — including U.S., Canada, UK, France, Germany, Australia, Japan, and India — and found that 28% do not envision staying at their company long-term. 

Pay and benefits were cited as the top reasons to quit, though emotional needs like feeling valued and doing enjoyable work were most correlated with retention.

Another survey also reveals that American employees across industries like technology and healthcare plan to quit their roles within six months despite lucrative pay.

According to the report, company executives need to start treating their employees like customers. Firms need to get to know their employees’ specific needs and wants through assessments, personalization, and put them through true employee journeys.

BCG added that satisfaction with one’s direct manager is also critical, as those satisfied with their boss were nearly half as likely to quit. 

The report’s data showed that great managers reduce attrition risk by 72%. Meanwhile, increasing motivation helps lower employee turnover by 3-fold, and job satisfaction by 14-fold.

“We know that inclusion is critical if we want to attract, engage, and retain a diverse workforce. Reporting that they are satisfied with their manager correlated with employees’ feelings of inclusion rising by 36 points,” said Gabrielle Novacek, a Managing Director and partner at BCG. 

“Token, ad hoc training modules don’t cut it,” added Deborah Lovich, a managing director and senior partner at BCG.

“Investing in developing better managers who can deliver the connection, support, appreciation, and motivation all employees–and frankly, all humans–crave is a no-regrets investment.”