SAN FRANCISCO, CALIFORNIA: The award-winning online training platform for businesses, TalentLMS, partnered up with Dr. Ashley Prisant from Harvard University on a survey about manager retention. The survey report reveals the reasons why managers stay loyal to their companies, and what makes them consider leaving.
These are the key findings:
• 1 in 2 managers are thinking about leaving their company in the next 12 months
• 7 in 10 say they feel undervalued and underpaid
• 43% feel isolated at work after they became managers
• 61% say that the number one reason they stay is that they work well with the people they manage
The top factors that drive managers away, besides being underpaid, are: an unhealthy working environment, not being part of the decision-making process, and insufficient training and development opportunities.
On the other hand, among the top reasons why managers stay at their current companies, besides compensation, are: the people they manage (61%), decision-making power (49%), work-life balance (44%), feeling acknowledged (37%), and training opportunities (36%).
The report also looked into whether managers feel taken care of. As it turns out, 93% have a go-to person, while 7% say they have no one to rely on at work. But Dr. Prisant raises an important point here:
“Should others be taking care of managers? Are they doing enough to take care of themselves? A lot of people say ‘my senior people don’t support me’ – but they do nothing to improve their own world.”