Higher-ed employees are continuing to eye the exits — and many of them think the grass may be greener at another institution. That’s one top-line finding from a report released Wednesday by the TIAA Institute and the College and University Professional Association for Human Resources that sheds new light on the retention woes academe has faced in recent years.
A survey of 1,210 full-time higher-ed employees conducted by the organizations in February and March found that 16 percent posed a risk of turnover in the next two years. Thirteen percent of respondents said they didn’t want to be working for their current employer in two years’ time, while 11 percent said they didn’t think they’d be at the same institution in two years. (Researchers arrived at the 16-percent turnover-risk figure by adding those numbers and subtracting the 8 percent of respondents who fell into both groups.) Faculty members were significantly less likely than staff members and administrators to ponder a move. Employees ages 60 and over were also more likely than their younger peers to do so, though the authors of the report attribute that difference to potential retirements.
While employees at risk of turnover held a dim view of their workplace, they hadn’t completely soured on higher ed. Nearly a third said they believed working conditions at their current institution were either somewhat or much worse than at “most other colleges and universities,” while only 6 percent of respondents not at risk of turnover said the same. Just over a third of turnover-prone employees thought life at another institution would be about the same.
But respondents at risk of turnover weren’t sold on the idea that working outside of higher ed was a better alternative. Of that group, 37 percent said they thought working at their current institution was worse than working at “most organizations outside higher ed,” only five percentage points higher than the proportion who indicated they’d prefer working at another institution within academe. Employees more likely to stay put viewed their employer much more favorably than they did organizations outside of higher ed, with nearly 80 percent saying their current situation was better than working in another industry.
So what will it take for those vulnerable employees to stay on board? Money. Salary was far and away the job feature they prioritized most: Fifty-six percent ranked pay among their top three most important job features, compared with 42 percent of employees not at turnover risk. While 41 percent of those at risk of turnover said they were dissatisfied with their salary, only 9 percent of employees who were not at risk agreed.
Benefits, work-life balance, and a positive culture were other top priorities for at-risk employees, with 42, 39, and 37 percent, respectively, ranking each in their top three. Conversely, employees not at risk of leaving were much more likely than their peers to value job security, advancement opportunities, and professional development.
There was, however, more consensus on the specific benefits employees valued most. By wide margins, both employees who were at risk and not at risk ranked a retirement-savings plan, health insurance, and paid time off among their three most important benefits.
Employees in both groups most frequently cited the same three complaints about their workplace: staffing shortages and a lack of resources, stress and burnout, and a lack of appreciation and recognition. But those at risk of turnover were at least twice as likely as their peers to classify each as a “big problem.”
