Dissatisfaction with stagnant salaries and rising expenses is the No. 1 reason why employees are voluntarily leaving their jobs, according to a survey released this month.
The Harris Poll survey of 9,700 full-time workers found that unhappiness with a work-life balance also ranks high, especially among millennials.
Research conducted for the EY global consulting group, a part of the Ernst & Young family, found that more than half of managers surveyed said they’re working more than 40 hours a week. Four in 10 said their work hours have increased in the last five years.
The survey was undertaken partly to detect generational differences in the workplace. It found that millennials and young parents felt they were hardest hit in trying to meet work-life challenges.
According to the report, other top reasons employees quit their jobs were lack of opportunity to advance, excessive overtime, a work environment that doesn’t encourage teamwork, and a boss that doesn’t allow flexible work arrangements.
Millennials tended to report, though, that flexible work arrangements drew negative consequences such as not being considered for advancement. That generation led others in wanting telecommuting opportunity. Concerned about financial stability, they also showed less likelihood to take a career break after having children.
One interesting survey result: Men were more willing than women to change jobs, give up a promotion, relocate or take a pay cut in order to achieve a better work-life balance.