June 28, 2017
Top 10 Reasons Executives Quit
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I have had several key executives from organizations reach out to me looking for better opportunities. Of course, the first question I ask is, “Why are you leaving?”
Losing executives can have significant negative impact on an organization. A common complaint from CEOs is the lack of talent in this tight labor market. There are many companies that are not able to take on more business due to a lack of adequate resources. There are others that feel they are lacking in leadership and therefore rely heavily on a couple of key executives. According to the US Department of Labor and Statistics, turnover can cost the company 33% of an employee’s total compensation.
The trend that I’m seeing now is key executives are leaving. Many of these folks will not only leave a hole in the executive staff, but they can also impact employee morale, leading to additional turnover.
Management needs to understand why these folks are leaving their companies. As a CEO Coach, I have observed highly compensated employees tend to leave for similar reasons to lower compensated employees. Not in any particular order, below is a summary 10 reasons people leave their jobs.
The impact to organizations when key executives leave can be crippling. Unfortunately, this is often what it takes for leaders to reflect on their shortcomings. Leading organizations have strategies in place to ensure company goals align with executive goals.
Dale Robinette is an internationally recognized business advisor and CEO Coach in San Diego California.
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