These managers were evenly split between large organizations (with more than $1 billion in revenues) and midsize ones (with revenues from $50 million to $1 billion). The employee survey included 5,774 people of working age the employer survey, 250 managers specializing in talent (for instance, chief talent officers). Both surveys spanned multiple industries. To better understand what’s driving voluntary attrition in the labor market, we conducted separate surveys of employers and of employees in Australia, Canada, Singapore, the United Kingdom, and the United States. Moreover, because many employers are handling the situation similarly-failing to invest in a more fulfilling employee experience and failing to meet new demands for autonomy and flexibility at work-some employees are deliberately choosing to withdraw entirely from traditional forms of full-time employment. They want meaningful-though not necessarily in-person- interactions, not just transactions.īy not understanding what their employees are running from, and what they might gravitate to, company leaders are putting their very businesses at risk. Yes, they want pay, benefits, and perks, but more than that they want to feel valued by their organizations and managers. They want to feel a sense of shared identity. They want social and interpersonal connections with their colleagues and managers. They want a renewed and revised sense of purpose in their work. Employees are tired, and many are grieving. If the past 18 months have taught us anything, it’s that employees crave investment in the human aspects of work. This transactional relationship reminds them that their real needs aren’t being met. The result? Rather than sensing appreciation, employees sense a transaction. Rather than take the time to investigate the true causes of attrition, many companies are jumping to well-intentioned quick fixes that fall flat: for example, they’re bumping up pay or financial perks, like offering “thank you” bonuses without making any effort to strengthen the relational ties people have with their colleagues and their employers. Companies are struggling to address the problem, and many will continue to struggle for one simple reason: they don’t really understand why their employees are leaving in the first place. More than 19 million US workers-and counting-have quit their jobs since April 2021, a record pace disrupting businesses everywhere.
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