To keep employees, focus on career advancement

Employees want jobs with the opportunity for advancement. Companies can start by helping employees find and prepare for new internal opportunities and offering feedback and coaching. 

Executives overlook internal promotions at their peril. In a Pew Research survey, 63% of respondents who left jobs in 2021 cited a lack of advancement opportunities as a reason. And a 2022 McKinsey study noted that a lack of career development and advancement was the most common reason given for quitting a job. READ MORE AT MIT MANAGEMENT SLOAN SCHOOL