Employee satisfaction is on the rise — 56% of workers said they’re happy with their current or most recent job, a 16% year-over-year increase, according to iHire’s 2023 Talent Retention Report. One in four employees said they were “very” satisfied with their jobs, a 65% increase over last year.
iHire surveyed more than 4,000 employees and employers across 57 industries, finding that despite this boost in satisfaction, resignations have increased by 5%. Nearly three-quarters of employers attributed all or most of their turnover to voluntary quits.
Among the 43% of workers who quit a job over the past year, the most common reason for doing so was a toxic or negative work environment (36%). Other top reasons for quitting included:
- Discontent with the manager/supervisor (29%)
- Lack of recognition/appreciation (22%)
- Poor work-life balance (21%)
- Lack of growth or advancement opportunities (21%)
- Unhappy with pay/salary (20%)
Almost four in ten employees plan to leave their current job over the next year, and another 33% expressed uncertainty about how much longer they’ll stay.
Employers have made efforts to reduce turnover via pay raises (65%), bonuses (40%), and employee recognition (34%). However, 13% said they expect turnover at their company to increase over the next three months, and nearly half expect their turnover rate to stay the same.