It is 2024. Fighting for and retaining top talent is still a hot topic. Companies must continually reinvent themselves and commit to good HR practices to retain their people and attract new ones. But can organisations impact employee engagement to keep a healthy employee turnover rate? And can they match their offerings to the expectations of new talent? Great Place To Work Belgium published a new research report which sought to find out what drives employees in their decision to join or leave an organisation.
What do employees expect from their employer?
We asked respondents to indicate the extent to which they expect certain promises from their employer. There are 26 dimensions that are considered the most important employee retention factors in the HR literature.
Of these 26 dimensions, Belgian employees have high expectations towards the social atmosphere (95%), communications with colleagues (94%) and cooperation (93%). Relatively little importance is attached to international experience (36%), job security (21%) and media access (13%).
Our study showed that relations with colleagues and their supervisor is of utmost importance for their great working experience! These relationships are based on mutual trust.
Reasons why employees leave an organisation
For Belgian employees, career development is the primary reason for leaving an organisation (47%). Cultivating positive perceptions of employee development will drive employee engagement and the resulting positive outcomes (e.g., higher intent to stay with the organisation). Offering meaningful developmental experiences allow employees to see the extent that the organisation values them – and, in return, they have higher job satisfaction and do not exercise their liberty to leave. Our graph below shows that trust in management (39%) and workplace culture (34%) are considered the second and third reasons to leave an organisation.
Trust between employees and leaders is the foundation of the employee experience. Leaders build high levels of trust through consistent demonstration of credibility, respect, and fairness towards their employees. These investments will – in time – lead to positive effects on employee retention.
Reasons why employees choose to join an organisation
In deciding to work for a particular organisation, respondents report that financial factors play the most significant role (58%). Research confirms that a monthly pay slip has the largest effect on job attractiveness. To attract talented people, organisations should include and highlight attractive pay, benefits, and flexible pay in their strategies.
Career development was mentioned as the second most important reason to sign a contract (56%), followed by 48% of respondents highlighting the importance of the meaningfulness of their work.
Our graph below shows that reliable and supportive people at work (22%) and workplace safety (5%) do not influence job candidates’ decision to join an organisation.
Learnings for HR practitioners
The reasons for joining an organisation often differ from those for leaving. While organisations have relatively little impact on the attracting forces of the labour market, with talent shortage raging and recruiters fighting hard with the best proposals to attract job candidates, HR practitioners do have a significant impact on whether they can keep their top talent by offering career development perspectives, investing in credible management strategies, and investing in a good workplace culture.
Discuss the needs of your employees and focus on their future within the organisation during (in)formal check-ins. Recognise the desire for social interaction and camaraderie and invest in career development as an essential strategy to retain talent. At Great Place To Work, we help organisations measure employee experiences and overall trust. Learn more about how we can help you!
