It's Not Really The Money:
It's Not Really the Money:
Top Ten Reasons Why Employees Leave
Phyllis Elikai, CPA, CMA, CIA
McKim & Creed
243 N. Front St.
Wilmington, NC 28401
[email protected]
910-343-1048
It's Not Really the Money:
Top 10 Reasons Why Employees Leave
Why do you think your employees leave your organization? Money? A better paying job? Studies show that this is not usually the case. I contend that an employee takes the seemingly easy way out, avoiding confrontation by saying that "they are offering me more money" when what he really wants to say is, "My boss is a real jerk and you couldn't pay me enough to stay here!" If it's really money, we should have dealt with that already and usually, we try to counter-offer. This also begs the question, if you can afford it and they're worth it, why don't you pay them more? Anyway, that's another story altogether. Studies show that lack of competitive compensation can be dissatisfying, but compensation alone won't keep people if they are dissatisfied in other key areas. 1
WHY DO WE DO WHAT WE DO?
Pay is, of course, important to all of us. But as a real motivator, it is not at the top for most people. Recall the ever-powerful Maslow's Hierarchy of Needs and theory of motivation in which differing factors serve as true human motivators as we progress "up" the needs triangle. After we have enough money to be comfortable and put food on the table, what is truly important to us changes. Not until the rung below has been satisfied do we become fully motivated by the upper factors.
Maslow’sHierarchy of Human NeedsSelf-ActualizationEsteemBelongingnessSecurityPhysiologicalAchievementStatusFriendshipStabilityShelterGeneral ExamplesOrganizational ExamplesChallenging JobRecognition/PrideWork Family/“In” on th ...
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