Why Managers Lose Staff Despite Good Salaries
Why do employees leave even with high salaries? Learn how managers can improve retention and build loyal teams by knowing people as well as numbers.
Why do employees resign even when offered higher salaries and what can managers do to retain them?
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What this episode covers
High employee turnover often stems from unmet career growth and development needs, not just salary issues. In this episode, Kelly Jensen, Senior Director of Enterprise Succession and Talent Planning at Walmart, shares how the retail giant manages to retain its 3 million employees by deeply understanding their career ambitions and aligning them with company goals. Kelly explains the challenges large organisations face in talent planning and offers practical advice for leaders looking to reduce disengagement and build loyalty. This episode is essential listening for those responsible for managing teams and improving workforce stability.
Who this is for: General managers and senior operators seeking effective methods to improve employee retention and engagement within large or growing teams.
Key takeaways
- Understanding employees’ career goals is crucial to retaining talent beyond financial incentives.
- Large organisations like Walmart face unique challenges in talent succession and require tailored planning strategies.
- Regular communication with employees about their development helps align individual and company success.
- Managers play a key role in addressing employee disengagement and should be supported by leadership.
- Learning from Walmart’s approach offers practical insights for improving employee retention in any organisation.
Why do employees leave even with high salaries? This episode explores why financial rewards alone are not enough to retain your best people and what managers can do to boost engagement and loyalty. Discover how knowing your team as well as your numbers can transform retention and performance.
What you will learn
- Understand the importance of talent succession planning for managers
- Discover practical steps to align employee career growth with business success
- Identify common challenges in talent planning for large organisations
- Apply lessons from Walmart's approach to employee retention
This episode features Kelly Jensen, Senior Director of Enterprise Succession and Talent Planning at Walmart, sharing insights from her experience retaining millions of employees.
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Get the Quick-Win PackQuestions managers ask about this episode
How well should I know the people who work for me?
You should know your employees’ career goals and motivations as well as you know your business operations. This understanding helps tailor development opportunities that keep them engaged and committed.
What challenges do large organisations face in talent succession planning?
Large organisations struggle with scale and complexity when planning talent succession, making it difficult to align individual career paths with organisational needs without a structured approach.
How can managers help reduce employee turnover?
Managers need to actively listen to their teams’ career aspirations and challenges, providing support and development aligned with those goals to prevent disengagement and resignations.
What practical steps can organisations take to improve employee retention?
Organisations should implement regular career discussions, align employee development with business objectives, and ensure leadership supports managers in addressing employee needs effectively.