Your employees are happy. They’re still leaving. What are you missing?

The issue, he argues, is that organizations may be overvaluing how employees feel in general and underestimating how they react in specific moments.

“What drives a lot of employees’ quitting decisions is not their overall feeling about work,” Klotz said. “It’s in reaction to these specific events that happen to us on a day-to-day basis.”

In other words, satisfaction is no longer a reliable proxy for retention. Employees may feel broadly content, but their relationship with work is becoming more fragile, shaped by a series of small disruptions that can quickly push them toward the exit.

The new retention risk: ‘death by a thousand pings’

While macroeconomic uncertainty and rapid workplace change are contributing to unease, Klotz suggests the real tipping points are often much smaller.

A frustrating interaction. A sudden schedule change. An unexpected performance rating. Each moment on its own may seem minor. Together, they can trigger what Klotz calls a reassessment.