Impacts on the likelihood to change jobs
In the second Integral Employee Activation Index survey, we asked US workers about their likelihood to change jobs. About one-fifth of respondents (20%) said they are somewhat likely or very likely to change jobs in the next 6-12 months.
Amidst the “greats” – the great resignation, the great regret, the great reality check, the great uncertainty, the great reprioritization, the great reshuffle, the great exploration…you’re probably not surprised.
What might surprise you (it surprised us!) is why some employees decide to stay in their jobs while others are more likely to switch.
Employees stay when their organization reflects their values
Index findings showed that nearly 7 in 10 employees (69%) are very unlikely or somewhat unlikely to switch jobs if their organization reflects their values. Society for Human Resource Management (SHRM) data backs this up: employees aren’t as likely to change jobs when their company’s values and culture are openly socialized and communicated clearly. Keeping employees whose personal values align with their organizations can greatly impact several aspects of the business.
Exceptional teams are built on values
Max Lytvyn, Co-Founder at Grammarly, states that values are what enable businesses to retain and develop workers for the long-term. Index results make it clear that when employee personal values are in line with their organization’s values, a whole lot of other good things happen. Employees:
- are more likely to have a positive attitude about their work
- feel better about their company culture
- take positive action on behalf of the company
- believe that their co-workers approach work more positively
Companies can increase employee retention by learning how employees view the values of the company.
Career mindset influences likelihood to switch jobs
Some employees believe the best is yet to come for their career, and as a result, they’re less likely to switch jobs. Of employees who believe their career’s best days are ahead, 36% are somewhat or very unlikely to change jobs in the next 6-12 months. This is a higher percentage than those that are somewhat or very unlikely to change jobs (31%) and neither likely nor unlikely to change jobs (24%).
Similarly, employees that believe their careers are holding steady are doing just that, holding steady. 54% are somewhat or very unlikely to change jobs in the next 6-12 months and 63% are neither likely nor unlikely. I think we all know the adage “slow and steady wins the race.” This seems to be the case for attracting and retaining top talent.
As for employees who believe their career’s best days are behind them, 27% are somewhat or very likely to change jobs in the next 6-12 months. Employees who believe their career’s best days are behind them are less willing to stay in their job. Only 13% are neither likely nor unlikely to change jobs and even fewer (10%) are somewhat or very unlikely to change jobs.
Although we don’t know how each individual employee defines their “career’s best days,” mindset and behaviors undoubtedly have some influence on how they view things. Employees might not feel like they are making the most of everything they have learned and experienced. More than half of people think that companies should place a greater emphasis on professional development opportunities to improve company culture.
If a company wants to retain their employees, they must encourage them to reach their full potential and give them opportunities for continued career growth.
Opportunities for career growth affect likelihood to switch jobs
Offering professional development opportunities and promoting career growth in the workplace builds diverse, equitable, and inclusive communities for employees and ultimately, keeps employees from switching jobs. Index insights support this:
- 82% of employees are very unlikely or somewhat unlikely to switch jobs when their organization provides them with the tools and resources they need to do their job effectively.
- 75% of employees are very unlikely or somewhat unlikely to switch jobs if they feel they are in control of their career’s success at the organization.
- 71% of employees are very unlikely or somewhat unlikely to switch jobs if they believe their organization enables or encourages them to grow their career at the organization.
Deloitte’s Workforce Experience by Design finds that opportunities and professional growth and development enhance the workforce experience. Organizations that are invested in employee growth experience competitive advantages, gain better business outcomes, and increased agility. These qualities in a workforce are essential in adapting to fluctuations in the competitive environment. Notably, businesses that adapt to rapidly changing landscapes keep their competitive edge, meet customer needs, capitalize on growth opportunities, and ensure they’re future-ready.
While the aforementioned “greats” are true about employees switching jobs, opportunities for professional development and career growth might just be the difference between your employees becoming part of “the greats” or staying with your company.
There is no surefire way to keep employees from switching jobs. However, we know what helps with employee retention: communication. Employees need to feel empowered to communicate with their managers about their career trajectory. Organizations provide the structure and support necessary for this information to flow. Let us know how we can help put those systems in place for you.