via First Round:

There is, however, one big reason employees may leave on account of their manager: Loss of confidence — in them or the company. “Let’s say you’ve had a couple of pivots and you just don’t believe in the company or concept anymore. You lose confidence in the marketability or leadership,” says Guthrie.

A company’s leadership needs to be aware of these potential undercurrents in their organization, and should deal with them head on. Otherwise, your best and brightest will be on the lookout for opportunities to jump ship.

This is the truth and the reality of both the large and small business. The thing is that most employees, on their exit, will cite other things as their reasons but in honest and candid conversations you’ll find a clear and distinct pattern.

Like most things, it starts with the leader.