About 1 in 7 employed Americans would like to leave their current job for a new one in the next 12 months, according to an Oct. 9 report from Yoh, an international talent and outsourcing company owned by Day & Zimmermann.
On the other hand, 28% of workers said they love their job and wouldn’t leave their company for any reason.
“Companies should have a finger on the pulse of their workforce and avoid assuming the best when it comes to their feelings, perceptions and attitudes,” Emmett McGrath, president of Yoh, said in a statement.
“The data demonstrates that a significant slice of workers currently hold at least some reservations about their job,” McGrath said. “Employee engagement efforts continue to be valuable tools to connect with workers, listen to their concerns and needs, and take meaningful actions to ensure employees are satisfied in their current roles and remain loyal to their employers.”
In a survey of 1,175 U.S. adults who are employed full-time or part-time, a quarter said they’d leave their current job in the next 12 months only if they received a higher salary or better benefits.
Other changes didn’t appear to be as enticing. About 7% of those surveyed said they’d leave their current job during the next year if they received the same pay but could work on more exciting projects. Similarly, about 6% said they’d leave their current job if they received the same pay but no longer had to work for their current boss.
Looking ahead, about 14% of workers said it would benefit their career long-term to leave their current job now for a new one. In addition, 14% said they believe they will need to look for a job in the next three years to receive the raise they feel they deserve, and 11% have been unsatisfied with their annual raises — or the lack of a raise — and would consider another job because of it.
Among those surveyed, older employees appear to be more loyal to their current employer than their younger colleagues. About 42% of workers over age 55 said they love their job and wouldn’t leave, as compared to 19% of those between ages 18-34.
As high turnover rates continue, retention remains a top priority for both operations and HR this year, according to a recent Gallagher report. In response, employers are creating more comprehensive benefits and compensation packages to boost the employee experience.
Unfortunately, turnover costs have increased to more than $57,000 annually on average, according to an Express Employment Professionals report, and the remaining employees feel the added stress. Communicating with those employees — and potentially conducting stay interviews — could help them feel heard and more likely to remain.
Pay transparency can also improve retention rates and reduce turnover, according to a recent Payscale report. HR professionals can also provide total compensation statements that show employees how their pay is set and what additional factors play into their overall rewards.
