COPENHAGEN, Denmark and LONDON and NEW YORK, April 4, 2019 /PRNewswire/ -- Peakon, the world's leading employee retention platform, has released a groundbreaking workplace study titled The 9-Month Warning: Understanding Why People Quit—Before It's Too Late. Based on more than 33 million employee survey responses across 125 countries, the study offers a detailed, first-of-its-kind glimpse into the exact factors that drive people to quit their jobs.
Key findings in The 9-Month Warning include:
- The first signs that an employee is considering quitting appear clearly in survey response data nine months before they actually depart, with declining loyalty as a key indicator.
- Key factors in driving a person to quit include unchallenging work, the inability to discuss pay and no clear path for career/personal growth.
- In most cases, people quit because of poor managers, not because of colleagues or company culture.
Organizations of all sizes integrate Peakon to conduct regular, employee-facing surveys to better understand their workforce, while empowering them to leverage data and insights to help teams reach their full potential. Today, Peakon analyzes more than 50,000 unique employee surveys each week, and more than 2.5 million data points each month.
Because of these ongoing surveys, many of which date back to 2015, Peakon is in a unique position to understand the full employee journey across geographies, industries, and generations. This report draws upon Peakon's massive global dataset to illuminate the common factors that determine employees' decisions to quit.
"We're at an exciting point in Peakon's growth where we've hit critical mass of customers, which gives us a tremendous sample size and the ability to conduct in-depth research such as this," said Kasper Hulthin, Chief Growth Officer and Co-Founder, Peakon. "Reducing attrition is a priority for most organizations. Understanding the drivers behind it, and predicting it in advance, is therefore incredibly valuable."
The 9-Month Warning is the first report available at Heartbeat by Peakon, a new interactive website that provides data-driven insights into the world of work. In addition to dedicated studies on topics like attrition, visitors can use the True Benchmark® tool to compare the expected engagement scores of their own companies to others around the world.
"If you're an executive, regardless of department, you're constantly looking for ways to become more data-driven. Human Resources is no exception," said Hulthin. "We've already seen the marketing department go from the gut instinct of 'Mad Men' to a much more scientific approach. Sales, operations and finance have all become data-first as well. Now, we're applying analytics to HR in similar fashion, helping companies grow, adjust and evolve."
For more information about Peakon or Heartbeat by Peakon, please contact firstname.lastname@example.org.
Peakon's mission is to impact the world's productivity and happiness by using data to create meaningful understanding between employees and their companies. Founded in 2014 by Kasper Hulthin (Podio - acquired by Citrix), Christian Holm (Podio), Phil Chambers (Gumtree – acquired by eBay, Qype – acquired by Yelp, Podio), and Dan Rogers (Qype, Songkick), the Peakon team has a track record of building some of the world's most successful technology startups. To date, Peakon has helped clients such as Capgemini, Verizon, BMW, TrustPilot, Harrods and easyJet make quantifiable improvements to employee engagement, retention, and team effectiveness.
Peakon is privately held with offices in Copenhagen, London and New York City. Current investors include Atomico, Balderton Capital, EQT Ventures, IDInvest Partners and Sunstone.
Dave Heinzinger | Haymaker Group