May 8, 2024
Dissatisfied employees are three times more likely to quit
Evidence from the Luxembourg Global Entrepreneurship Monitor
New analysis from the research department of STATEC (STATEC Research) reveals 12 percent of employees in Luxembourg are planning to quit their jobs. This figure varies substantially across groups however. Younger people (aged 25-34) and women are more likely to consider quitting.
The best predictor of intentions to quit his job satisfaction. Nearly one in three dissatisfied employees are planning to quit (30%), a rate that is 22 percentage points higher than for satisfied workers (8%).
The article discusses additional benefits of workplace well-being, and how to improve it. Greater well-being leads to career success and higher productivity in the workplace. Much of the research is on individuals, but another recent study conducted by STATEC Research demonstrates that industries with higher job quality and job satisfaction display higher levels of labour productivity. Workplace well-being is also important for recruitment. Based on an experiment with 25 million job seekers, candidates were less likely to apply to companies that were otherwise the same but had low employee satisfaction.
To improve job satisfaction, management can focus on job quality, which encompasses six different dimensions: income and benefits, working time, work-life balance, discrimination, health and safety, employee representation or feedback, skills development and training, and stress. More positive workplace relationships and sense of meaning are also associated with greater job satisfaction.
Considered together, the available evidence suggests that employees care about many aspects of their jobs – not just their salaries – and that there are many routes to improve job satisfaction. Improving job satisfaction, in return, can reduce employee turnover, increase productivity, and increase the number of job candidates.
The data for the new research comes from the recent Global Entrepreneurship Monitor (GEM) in Luxembourg, a nationally representative survey of the resident population conducted by STATEC Research.
Source: Statistics Luxembourg
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