Why High Potential Employees Leave Jobs

Even though the Great Resignation is technically over, it's not far behind in the rearview mirror. Companies throughout the U.S. are still feeling the effects of nearly 100 million people quitting to find work elsewhere, and the discussion has shifted to prevention! What are the drivers that cause high-potential employees and new hires to resign, and what can employers do to increase retention? In this guide, we'll examine some of the top reasons your best people might be on the verge of quitting and provide some strategies to retain your top talent. 

What are Some Reasons That an Employee Resigns?

Employee turnover is an issue that organizations in every industry are used to dealing with, but rarely has it escalated to the extent seen in recent years. Since 2020, retention rates have plummeted across the country as high-performing employees, fed up with their current employer for one reason or another, have moved on to look for greener pastures. National surveys combined with data from exit interviews have helped identify the most common reasons why your best talent might be heading for the door.  

Lack of Growth and Development Opportunities

One of the most frequently cited reasons for employees seeking work elsewhere is a lack of opportunities for upward development with their current employer. In fact, as many as 63% of individuals resigning from their positions in 2022 listed this as their primary reason for moving on! If people sense they’ve hit a ceiling at their current place of work and there are no further chances for career advancement or promotion, they become considerably more likely to seek out other organizations that can offer that upward mobility.   

Desire for Higher Pay

Just below growth opportunities, a desire for higher pay is a close second among the reasons your team members might be looking to move on from their current jobs. Pay rates play a crucial role in job satisfaction, and it takes a worse-than-bad boss to deny that; no amount of gift cards, appreciation lunches, or pats on the back will ever outweigh competitive compensation, especially in today's economy. If you're worried about losing your top talent, freshen up on your market research and make sure you're meeting your team where they need to be. 

Need for Better Benefits Packages

When employees talk about compensation, they’re not just considering salary. A paid salary or hourly wage is just a piece of overall compensation. Employers should consider the overall value of the benefits packages, including health insurance, vacation time, retirement contributions, and other perks that they offer, as that can sometimes sway the balance if salary alone isn’t persuasive enough to keep your top performers.     

Lack of Engagement with Their Job

Study after study has shown the importance of employee engagement in relation to employee retention, and the numbers are clear: the more engaged and fulfilled an employee is, the more likely they are to stay in a given position. If, on the other hand, an employee feels like they are no longer performing meaningful work or don’t see the greater purpose behind their tasks, there’s a greater than even chance that they’ll soon start looking for a new job and an opportunity to leave their current employer.  

Not Enough Flexibility in the Workplace

In recent years, changes in work culture throughout the United States have reinforced the importance of work-life balance in most people's lives, and as a result, more and more workers are valuing organizations that emphasize flexibility in their company culture. This isn't just about working from home – among other examples, flexibility can mean the ability to schedule a doctor's appointment during the work day. If a business expects its staff to consistently put work above their personal lives and offers no flexibility, it shouldn’t be a shock when their employees leave to find an organization that will accommodate them. 

A High-Performing Employee May Feel Overworked

Another topic that has become increasingly common among America's employees is burnout. An ever-growing number of people are reporting feelings of stress, exhaustion, and being overworked – a combination that can cause some people to find another work environment just to get away from the stress. It's important to note that "burnout" doesn't exclusively refer to too much hard work, though that can be a contributing factor, but it also can include being asked to cover too much outside one's job description, work odd hours for too long, and other contributing factors that are typically signs of poor workplace management. 

Tips for Retaining High-Potential Employees

The causes behind high employee turnover, especially for your best people, might paint a grim picture; however, there are some actions you can take to retain your high-potential future leaders and managers. As we go through these actions, keep in mind that the core idea that all of these tips share is a focus on workers as people, rather than on what or how much they can produce. When people work with a company that treats them like people and not like a number, they are far more likely to stick it out through the tough times and work to grow with that organization. 

Investing in Their Career Development

Good employees become top players by deliberate and purposeful investment from both sides: theirs and that of the company they work for. If you have a top-performing team member with high potential, encourage their growth through career education, professional development, and new skills training. Enable them to grow and succeed and work with them to ensure they are meeting their career goals with the help of your organization, and you’ll have a happy, long-term employee that will match the effort you put into them.  

Provide the Right Management and Support

One of the keys to preventing burnout and retaining your high performers is providing enough top-level support to prevent them from feeling like they're barely keeping their heads above water. Ensure tasks are delegated appropriately and that requests for support are taken seriously and acted on as necessary. If you want your employees to stick around and feel like they're part of a team, remember that concept works both ways! 

Give Them Leadership Positions

If high-potential team members are routinely crushing it but feel that there is no place for them to move up within your company, they're just as likely to leave and find another organization that will enable them to succeed. Prevent that and encourage your team to engage in meaningful work by moving them up into a new position with leadership responsibilities. Ensure that they have sufficient support and training as they take on these new jobs, then let them spread their wings.

Measure Progress and Reward Success

Finally, remember that a little can go a long way when it comes to employee feedback. If an employee is going above and beyond but doesn’t feel recognized, they may decide to find an organization that will acknowledge their hard work. Keep track of measurable, objective metrics and reward employees that regularly put out good work and meet or exceed your organization’s standards. Provide an extra incentive for your best performers by offering perks like additional vacation time, bonuses, or other benefits for staying at the top.  

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