What if your employer offered you cash to quit? Would you take it?
If you’re happy overall and feel connected to the company culture, maybe not.
But if you’re already feeling dissatisfied, wondering how to cover cash flow if you were to quit, such an offer could be very appealing.
Which is exactly what Riot Games is trying to accomplish. The maker of the popular video game League of Legends recently announced that they’ll pay unhappy employees up to $25,000 to quit their job.
In a post on Business Insider, the company explained that they’re seeking a way to prevent mismatch hires from festering. And to learn from those quickly discovered hiring mistakes.
They’re not the first company to go this route: Zappos and Amazon both pay employees to quit, explaining that it’s a way to ensure that employees remain there for reasons beyond just the paycheck.
With Gallup’s most recent figures on employee engagement showing that over 70% of the US workforce is disengaged at work, this strategy could work. And possibly recoup a lot of lost productivity dollars.
But there are alternate views on the topic.
In this post from TTI Sucess Insights, chairman Bill Bonnstetter states that these pay-to-quit strategies aren’t actually solving anything.
He explains that Riot Games is treating the symptom and not the cause, pointing out that they “could have the right person in the doors but merely in the wrong position.”
Bonnstetter recommends hiring right the first time via job benchmarking and using validated assessments to match a candidate’s attributes and behaviors to the job’s profile, the performance required, and the motivators involved.
What do you think? Will the pay-to-quit strategy help companies? Or just create a revolving door?
Images courtesy of yokayo & ElvisFan76.