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Although employees are focused on developing their skills and career prospects with an eye to their futures, this doesn’t mean HR leaders can sit idly by and expect them to stay around forever according to the latest report from LHH.
Workers across the globe may not be seeking to leave their current roles in the near future, but not out of a sense of loyalty to their employer.
Instead, they’re focused on developing skills and progressing their career all whilst keeping one eye on the exit door should external forces swing back to their favor.
The Global Workforce of the Future Report 2024 from talent solutions provider LHH shows that the pivot from the ‘Great Resignation’ – when HR leaders struggled to hold on to their best talent – has since given way to the ‘Big Stay’.
Research among 30,000 workers from 23 countries and 25 industries found that 52% of workers cited external factors and 51% a “fear of the unknown” as holding back their professional growth – rising to 57% for both factors among US employees.
Meanwhile, other factors such as economic climate (23%), age (22%), and limited opportunities within their own industries (20%), mean three in four (75%) of employees currently plan to stay in their roles for the rest of the year.
Speaking to UNLEASH, LHH President Gaëlle de la Fosse explains she anticipates more employees to seek out career opportunities elsewhere when labor conditions stabilize.
“We are now entering the ‘Great Potential’ era where employers have the opportunity to invest more thoughtfully in talent, build stronger leaders, and fill critical skills gaps that will help improve employee engagement and retention for the long term.”
While it may be a short-term relief for HR leaders that their workforces are not actively looking to move on, they should not mistake this trend for satisfaction or loyalty.
By focusing on improving skills and progressing careers with their current employers, the vast majority of employees surveyed (86%) are confident they could find a new job within six months, either through their own networks (74%), an independent job search (71%), or a recruiting firm (68%).
“Our latest research tells us that workers are considering leaving their jobs not only because of salary, but for career growth opportunities, mental well-being, and more fulfilling work,” says de la Fosse.
Addressing these concerns “goes beyond just specific skills development programs”, she explains, as workers seek out managers that are invested in their long-term growth, stronger workplace cultures, and an ongoing investment in their skills” to stay competitive in a changing labor market.
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