Winningtemp survey reveals the recipe for employee turnover in 2023

Gothenburg, 14th June 2023 - Today,  Winningtemp, the Swedish AI and science-based employee engagement platform, releases the results of its “Fighting Turnover: What matters the most for employees in 2023” report. The report provides insights into the sources of turnover, the new employee/employer relationship and how businesses can create a positive environment for all workers. 

The report identifies three major areas businesses should address to reduce turnover:

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1. Centering business around employee values

The research shows that employees want to work in an organisation that is closely aligned with their values. Winningtemp has identified three primary dimensions that businesses should focus on to reduce employee turnover: trust, job satisfaction, and meaningfulness. Winningtemp data shows that businesses who fail to deliver on those are at high risk of turnover. 

Key data:

• Employees who feel their managers don’t keep promises are 87% more likely to leave. 
• Employees who feel the management team doesn’t have good motives and intentions are 81% more likely to leave.

This paints a bleak picture at a time when budget constraints are forcing businesses to do more with less. 
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2. Give employees room for growth and impact

The research also shows stark differences between managers and employees’ perception of their experience at work. While managers consistently rank as more engaged, the discrepancies hint at a need for managers to ensure their direct reports are provided the same opportunities as they are. This includes participative decision making, autonomy and personal development, three dimensions where managers rank significantly higher than employees (13%, 12% and 11% respectively).

“It’s concerning to see employees lagging so far behind their managers, as it means they’re less likely to help fellow employees, which can ultimately lead to harmful siloes within the business. There’s also a higher chance they might damage their employer’s brand outside of work – a real issue considering employees always outnumber managers. So, organisations must look to build bridges between employees and managers if they’re to stymie this problem”, says Rahat Joshi, Senior People Scientist at Winningtemp.

3. Adapt ways of working to the needs of four generations of workers

While businesses have a duty of care to cater to all employees, the research shows that each generation of worker has different motivations at work. Businesses with a multi-generational workforce must ensure they provide appropriate opportunities to each generation. Failing to do so will lead to further churn from employees, according to the research:

• Baby boomers who lose confidence in management treating them fairly have a 100% higher risk of leaving their organisation. 
• Generation X workers need to have confidence that their managers are both competent and honest, and require open dialogue to foster a trusted relationship.
• Millennials need to know their employer is the best one for them and their work is meaningful.
• Gen Z's belief that business ethics and social responsibility are important to a company’s survival has the highest impact on their turnover rates - a belief unique to this generation.

The rise of employee engagement tools is now enabling businesses to better measure the impact of these various challenges on potential turnover to address issues before they arise. This, combined with a corporate culture of open dialogue and collaboration, will enable businesses to weather the talent storm and retain employees for the foreseeable future. 

Winningtemp’s report is based on 1215 customers’ and 73821 users’ temperatures between 2021-07-021 and 2022-07-01.

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Read the full report here.

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