How much money, above what an employee’s currently making, does it take to get them to switch jobs?
It depends, of course. (And of course, it’s not all about money.)
But as part of its 2009 Employee Job Satisfaction report, SHRM (the big association of HR people) asked employees what percentage salary increase would motivate them to leave their jobs. They could choose from a scale of 1 = Very Unlikely to 4 = Very Likely.
Here are the percentages of people who said they’d be “very likely” to leave if the given salary increase was dangled in front of them.
30% salary increase: 58% said very likely to leave
20% salary increase: 20% said very likely to leave
10% salary increase: 11% said very likely to leave
5% salary increase: 8% said very likely to leave