What really motivates employees…and motivates them to quit?

Business books are wonderful. But thousands come out every year, and there’s probably only a half-dozen that really count. I’ve found a hidden gem of a book in The 7 Hidden Reasons Employees Leave, by Leigh Branham. These reasons make sense when I look at companies and careers.

This book has the elements of my favorite business books. When you read it, it dispels a major myth and creates a shift in the way you think. Second, it has tangible concepts you can understand — and apply directly tomorrow. Third, it’s based on credible research. These Hidden Reasons came out of exit interviews with more than 10,000 employees.

You might not believe it, but getting paid more is not the major reason why people leave companies.

One of the things that dispels that myth is Reason Number 4: Employees don’t see enough opportunity for growth and advancement. People need to see the path to get to where they want in their career. Many companies don’t make this easy for their employees. When you can show the specific steps to get them exactly where they want, there’s no need to leave.

The myth that people leave companies because they want to get paid more never really felt right to me. People don’t leave a business because of money. This book really shows that salary is only part of compensation—and the really smart people realize it’s less than half.

Most businesses miss the boat when they try to make people more loyal with just financial compensation. I always ask the employees in companies I work with, “Where do you want to be three years down the road?” Then I want to know if they can see the path they have in their current company. The sad reality is more often than not, they can’t.

Coach Kevin’s Challenge

Look at The 7 Hidden Reasons. How are you taking care of them for your employees? As the book says, how can you act before it’s too late?