Did you know that according to the latest Job Seeker Nation Report, 45% of workers are actively looking for a new job, or planning to within the year? It’s not surprising, since half of all employees believe they can make more money if they switch jobs, and more than a third believe it’ll be easier to find a job this year versus last.
But here’s the kicker: 54% of these job seekers have not looked internally at their current company for a new position.
That number seems alarmingly high. It indicates to me that workers are not feeling much of a connection to their current employers, don’t see that their work is valued and/or don’t see any growth opportunities, which has repercussions up and down the line: After all, disengaged employees don’t do their best work, and high turnover has detrimental effects on both morale and the company bottom line. Meanwhile, I shudder to think about the industry experience and knowledge that gets lost with each resignation.
Now more than ever, we need to look inwards—at our people. The 2022 Job Seeker Nation Report found that only 37% of workers feel fairly paid. Are we compensating people appropriately for the value they bring to our organizations? Tellingly, nearly half of those surveyed were willing to accept a lower salary for the opportunity work remotely at least part of the time. Are we listening to our people’s preferences and accommodating them to the extent possible and reasonable? Are we putting the systems and processes in place to support these desired hybrid workplaces, which frankly, are the way of the future?
Meanwhile, 40% of workers are reporting high turnover and a resulting increasing in workloads, stress, and burnout. But the number of employers offering mental health counseling is at the lowest level in three years. Are we taking care of our people, checking in regularly during these unprecedented times and giving them resources for managing their physical and mental health? Perhaps most important, are we modeling this behavior ourselves and encouraging them to use these resources?
Nearly one out of every three new hires will leave in the first 90 days. It’s critical that we prioritize answering these questions ASAP, so each new hire can quickly recognize a culture of support and transparency from the get-go—before they have a chance to jump ship.
It’s incumbent on us as industry leaders to show our people that they matter, that we are listening to them, and that we want them to grow and succeed in their careers and lives.
Let’s start this new year off with a focused push to prioritize our workers—and see what 2023 can bring.