Are Your Employees Staying in Your Company this 2020?
Employee retention will prove to be challenging for many companies this year. A recently concluded survey from Mynimo.com, one of the leading job portals in the Philippines, shows that 81% of the employed respondents are thinking about working for a different company in 2020. Out of these respondents looking to move, 52% were female and 46% were male, while the remaining 2% preferred not to state their gender.
There are various reasons why survey participants are planning to leave, based on age group and gender. For females aged 18 to 24, most of them felt they weren’t appreciated and recognized in their current workplace. In comparison, most males in the same age range feel that they have little to no opportunities for growth and development.
For respondents aged 25 to 34, both genders cited the lack of appreciation and recognition as the main reason why they are planning to leave their companies. On the other hand, females aged 35 to 44 said that they need a career change, while males in the same range said that they are looking for a better salary rate, hence, the plan to look for another company.
For those aged 45 to 54, both genders answered that they wanted to have more opportunities for career advancement, that’s why they are planning to leave their current workplace. Lastly, for those who are aged 55 to 64, in both genders, they planned to change their careers.
Some People are Leaving, But Some are Staying
In contrast with those who are planning to change companies this year, 19% of the employed respondents decided to stay in their current workplace. The reasons for choosing to stay are the following: there are a lot of opportunities for growth and development; a competitive compensation and benefits package; and a healthy corporate culture.
More Retention Factors for Different Professions
Moreover, based on the survey, employers should also review these factors based on specific job categories to help retain their people:
- Accounting/Finance—Personal and professional growth, communication
- Admin/Office/Clerical—Leadership, personal and professional growth
- Arts/Media/Design—Personal and professional growth
- Call Center/BPO—Personal and professional growth
- Education—Personal and professional growth
- Engineering/Architecture—Leadership
- Food/Restaurant—Accountability and performance, rewards and recognition
- Government/Non-profit—Rewards and recognition
- Health/Medical—Leadership
- Hotel/Spa/Salon—Communication, leadership
- HR/Recruitment/Training—Personal and professional growth, rewards and recognition
- IT—Personal and professional growth
- Logistics/Warehousing—Leadership, rewards and recognition
- Maritime—Professional and personal growth, leadership
- Purchasing—Professional and personal growth
- Production/Manufacturing—Professional and personal growth, accountability and performance
- Sales/Marketing/Retail—Vision and Values, Employee Benefits, Professional and Personal Growth
- Skilled Work/Technical—Employee Benefits, Salary, Leadership
Career Growth as Leading Factor for Employee Retention
Career growth is a valuable component of an employee retention strategy. Companies who prioritize career growth experience a win-win benefit with employees feeling valued and driven, and the company retaining involved and fulfilled workers. People who are happy in their chosen careers help companies achieve their objectives faster. This goes to show that implementing a continuous path to workplace fulfillment makes good business sense.
Mynimo.com is a job website whose primary mission is to help Filipinos find jobs that not only provide for their needs, but a happy career that they can love. The job portal connects jobseekers to numerous employers that can help realize their career goals and provide professional growth.
Learn about the latest Philippines hiring and retention strategies, and find the best people for your team. Start here!
