Shelley Piedmont’s Post

Employers, leaders, business owners, listen up! These employment trend statistics are a must-know for any company, big or small. In August 2023, the US had 9.6 million job openings, while the employee turnover rate was 3.8%. Shockingly, 63% of employees cited low pay and lack of career growth as reasons for leaving their jobs in 2021. Investing in employee engagement can lead to a 59% reduction in turnover rates, and with remote work trends on the rise (a 24% increase in 2022), 66% of employees would seek another job if remote work was not an option. According to a Gallup survey in August 2023, 1 in 2 employees are open to quitting, with 49% actively seeking other opportunities. The cost of employee turnover in the US is a staggering $1.1 trillion annually, with top reasons for job dissatisfaction being low pay (41%), not feeling heard (36%), and leadership-related issues (35%). It's worth noting that engaged employees demand a 31% pay increase, compared to disengaged employees who seek a 22% increase. Where does your company fall within these stats?

The issue of employee apathy (as this article explains through data based on familiarity with certain post-pandemic phrases and corporate buzzwords) is becoming a pressing one. My conversations with leaders in research and insight agencies about growth increasingly include the challenges of hybrid working, apparent differences in motivation and views of work across generational segments, and changes in the relationship between employees and their employer. We are in the midst of a transformation around attitudes to work. I'm not sure anyone is claiming to have any answers to this, just yet, or even to know where the trend will lead. But in the meantime, I do think it is vital that the leaders in research and insight agencies keep an open and transparent dialogue with their colleagues, remain interested in their perspectives and keep enquiring (without judgement) about what is occuring. In this way, my hope is that the jargon and buzzwords around "quiet quitting" and "act your wage" swap out over time, to a more positive tone around "constructive job opportunities" and "career diversity"... #marketresearch #marketingresearch #insights #mrx

As the workforce landscape shifts, our research unveils a dissatisfied workforce actively seeking new opportunities. With 50% of working Americans unsatisfied in their current roles and only 36% feeling fairly compensated, it's crucial to address these concerns. Discover the key factors driving job searches, and learn how a well-crafted incentive program, including competitive pay and meaningful work, can retain valuable talent. #EmployeeRetention #IncentivePrograms #SalesTeamIncentives #IncentiveManagement #WorkforceSatisfaction #Nansys 

Employers, take note! A recent survey by partner Asmus Komm and colleagues reveals an important disconnect in understanding what truly retains employees. The study highlights that relational aspects like a sense of belonging, feeling valued by managers, and a flexible work schedule hold more significance for employees than previously perceived. Interestingly, employers tend to prioritize factors such as compensation and work-life balance. Adapting strategies to align with employees' real needs could enhance overall satisfaction and retention rates. #EmployeeRetention #WorkplaceCulture #HRInsights

Think about your most positive personal relationship. You probably have a shared expectation of each other’s behaviors and boundaries. Before the pandemic, by in large, employees expected and accepted that employers established when and where one worked. The pandemic took that power from employers. They could no longer determine the structure of the majority of their employees’ days. The mutual understanding that employers set the rules about the when and where of work began to disappear. Once the pandemic ended, expectations stayed misaligned. Some employers tried to reestablish pre-pandemic expectations and norms. Some employees said sure, and others said no. Ultimately, expectations between employers and employees are now misaligned in a dramatic fashion. Think again about your most positive personal relationship, and if your shared expectations became dismantled. That’s where we are at work, just on a broader scale.

While I understand the point being made, it's important to acknowledge the significant changes that the pandemic has brought to the way we work. Instead of dismantling shared expectations, we should focus on adapting to new circumstances and finding a balance that can accommodate both employers and employees. The idea of balance doesn't have to be rigid and inflexible. Employers should prioritize hiring qualified individuals and conduct thorough evaluations to ensure their decisions are sound. If employees prefer to work from home, they should be allowed to do so. Similarly, if they have access to an office and prefer working from there, that option should be available to them as well. It seems that these decisions are often unnecessarily complicated by excessive emotional involvement, when in reality, they can be approached with simplicity and practicality.

Thank you Forbes Advisor for compiling this comprehensive list!!! Super helpful to see statistics grouped together all in one place! I'm hoping this data summary and pattern recognition will help accelerate progress and lasting positive changes. 👀 These stats caught my eye as various aspects have been in the news: 👉 75% of employees experience burnout (37% due to working longer hours and experienced by 43% of female leaders vs 31% of male leaders) 👉 Average tenure of an employee is 4.1 years (2.8 years for workers 25 to 34 yrs old and 3.9 years for women vs 4.3 years for men) 👉 Nearly 38% of employees quit within the first year of employment, mostly due to lack of career development opportunities, dissatisfaction with job characteristics and poor work-life balance 👉 It costs 33% of an employee’s salary to replace them, including the drop in productivity and costs of recruiting, hiring and onboarding. I found correlations with the American Psychological Association's 2023 Work in America Survey (find here https://lnkd.in/gU8V3XQK) in which #workplaces are recognized as potential engines for #mentalhealth and #wellbeing. Spending more than 1/3 of our time at work, we need to reflect on mismatched perceptions between #employers and #leadership and #employees. 👉 92% of workers say psychological well-being is a very high priority (including feeling respected and clear boundaries between work and non-work time.) 👉 Good news: 77% of workers report being satisfied with the support for mental health and well-being they receive from their employers... 👉 BUT, 55% of workers agree that their employer thinks their workplace environment is a lot mentally healthier than it actually is 👉 43% reported worrying that if they told their employer about a mental health condition, it would have a negative impact on them in the workplace. 👉 77% of workers say workplace #stress and #burnout remain at concerning levels that impact emotional exhaustion, low motivation to do their best, a desire to keep to themselves, a desire to quit, lower productivity, irritability or anger, and feelings of being ineffective Based on APA's prior surveys, some progress is being made. 🙏 Find 2022 results here: https://lnkd.in/gAyYJr3K 👉 Headline: 71% believe their employer is more concerned about the mental health of employees now than in the past. In fact, 81% of individuals said they will be looking for workplaces that support mental health when they seek future job opportunities. ❓So, is mental health a key driver in fluctuating attrition rates? 🙏 Find 2021 results here: https://lnkd.in/g7btUsH4 👉 More than 2 in 5 employees intend to change jobs within next year due to the association with the stress an employee feels during the day. ❓So, what is the #1 way to reduce stress? Answer posted in comments

Check out our latest article on BBP Media, "Overcoming the Challenges of High Workplace Turnover." We explore the underlying causes of high turnover rates and offer practical strategies for employers to address and reduce them. 👉 https://lnkd.in/esJ9fk3n

It’s been a challenging few years, to say the least. How are employees handling things like remote work, inflation, job-hunting and burn-out? Our latest research gets into all the details. If you’re trying to better understand your workforce, this research has the analysis you’ve been looking for. https://bit.ly/45NKk8U #GiveThanks #EmployeeRetention #RewardStrategy

𝐇𝐨𝐰 𝐄𝐦𝐩𝐥𝐨𝐲𝐞𝐫𝐬 𝐍𝐮𝐝𝐠𝐞 𝐖𝐨𝐫𝐤𝐞𝐫𝐬 𝐎𝐮𝐭 𝐓𝐡𝐞 𝐃𝐨𝐨𝐫 Workplace manipulation? Oh, this one gets me fired up! 🤬 It's appalling to see some employers resort to these tactics. Why not just create a workplace where employees want to stay? It's heartbreaking when loyal workers are pushed to the edge. Imagine working for a company that doesn't respect your dedication and tries to make your life so difficult that you eventually quit. 😡 It's passive-aggressive, and it's wrong. From unrealistic deadlines to hostile work environments, it's disheartening how far some organizations will go. But you know what, as revelers of authenticity who value genuine connections and authenticity, we firmly believe that companies should cherish their employees and foster an environment where people thrive, not where they're manipulated. Employees should be able to pursue their passions, not feel pushed out. As a society, we deserve workplaces that appreciate our efforts and encourage us to be our authentic selves. So if you ever find yourself in a situation like this, document everything, talk to your boss if you can, and remember that you have rights. Don't let anyone nudge you out when you deserve to stay and shine. And for the companies, we ask this: What values do you truly honor? How do you treat those who dedicate themselves to your success? Is it not time to create workplaces that inspire loyalty, appreciation, and authenticity? #AuthenticWorkplace #LoyaltyMatters #EthicalLeadership #FosterRespect #EmployeeRights https://lnkd.in/eKP2g3AS