One of the biggest reasons why highly paid engineers leave stable tech giants to work at startups is to ensure that their contributions are recognised.
Business leaders are struggling to come to terms with the mass exodus of their employees in what is termed as The Great Resignation. This has led to a staffing crisis and at the same time a talent retention crisis. Researchers have gone deep into this occurrence and have come up with different causative factors. Some of them include poor management, poor well-being, and performance deficits. So, what is leading to people quitting their jobs in such a large manner? Is it that they simply want better wages, or that their jobs don’t align with the values they have? Now, here’s an in-depth research on this subject that shows the following reasons people are really leaving their jobs during The Great Resignation:
Toxic Corporate Culture is By Far the Strongest Predictor of Industry-Adjusted Attrition
According to our research, toxic corporate culture is the leading causative factor of The Great Resignation. Perhaps even more than low wages. And some of this toxicity is evident in the failure to promote equity, diversity, and inclusion. Most workers feel like they are being disrespected every day when they go to work. They also feel like it’s all unethical behavior.
High Levels of Innovation
There have been very high levels of innovation within the industry, and this has motivated staff to quit and start their own businesses. If you look at the top startups, their leaders and founders were once employed but then quit to start their own ventures. While this is positive, it is leading to a massive loss of labor force for companies and businesses.
And as innovation continues, we expect that this massive exodus will only increase with time. Creativity and research are the biggest contributors to innovations.
Failure to Act Leads to Employee Dissatisfaction
Employees are more likely to leave a company when they feel that you’re unresponsive or simply don’t care. Everyone wants a listening ear, and them not getting it means that you might not care enough to understand their plight. This is all about feeling noticed and cared for at the workplace than it is about getting higher wages. Basically, how you treat someone matters even more than how much you pay them. Because, if they don’t feel that they belong there, then they’ll be less productive. Hence, they’ll want to leave and go where they feel appreciated and more productive.
Failure to Recognize Performance
There are employees who make a significant contribution to the company. They sacrifice a lot just to see everything flowing smoothly. But yet, they don’t get the recognition that they deserve. All because of the toxic culture that’s within the corporate industry. Most employers feel that they are entitled to get that great performance from you anyway. Thus, they don’t see any need for it.
This is where most employers go wrong. Because when staff begin to feel like they’re getting nothing more than laggards when it comes to performance and recognition, then they feel the urge to leave the company. They feel that there’s no form of value addition to their lives or careers. And this is so demotivating.
One of the biggest reasons why highly paid engineers leave stable tech giants to work at startups is to ensure that their contributions are recognised. Great product design engineers strive to create great experiences for their users, but when their products are simply adopted by users and they receive no personal recognition, talented developers can be deterred from their jobs.
Job Insecurity and Reorganization
When you don’t enjoy the security of tenure, you feel like your life could come crumbling down at any given time. And this has been a legitimate reason for people to quit their jobs and look for other ways that assure job security. Being an entrepreneur seems to fit this demand well, as many feel that by being their own boss, they can gain more control over their futures.
Many have lost faith in the future visions of their companies, hence, leading to the mass exodus.
Lateral Job Moves
This is where staff move from one job position to the other without any new perks for the new position they’re occupying. Many staff are not liking the idea of being promoted while at the same time getting not much changes in their salaries. This is what has prompted them to move to other career paths where they feel they can get value for their services.
It is clear that this mass exodus has only but started. We are in it to see more people quitting their jobs unless the toxic corporate culture changes. All we can say is to sit back and wait to see what unfolds in front of us.